Pre-approvals and loan reviews are the flavour of the month at the moment. With the real estate market picking up momentum, credit approvals increasing and interest rates dropping, it’s a great time to take action and make the most of what’s on offer.
There’s talk from ANZ economists about double digit capital growth for properties in Sydney and Melbourne over the next 12 months. My personal view is that the market, especially in Sydney, has been so unpredictable the last 18 months that it is unrealistic to have any certainty on what prices will do.
I believe, if the property ticks all your boxes and, more importantly, fits your budget, not just now but if rates were to increase, then there should be no point in waiting.
We are here to help you to make sure you get your numbers right!
What does this mean for you? Conditions are great for buying and selling property. Get in touch if you’d like to discuss your borrowing capacity and arrange pre-approval for a new home loan.
If your home loan is a couple of years old, reviewing it needs to be on your To Do list.
If you’re not in a position to re-finance and your interest rate has recently dropped, keep making payments at the previous amount if you have that flexibility in your loan. You’re already used to paying that amount, so you won’t miss it and every cent off your loan helps!
We’re here to help with all your finance needs. Just drop us a line or call anytime.
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Michael
