Banks Increasing Borrowing Capacities
As banks increase their interest rates, so do their internal assessment rates; which, in turn, decreases the amount you can borrow. To combat this reduced borrowing capacity, lenders are adjusting how they assess clients in other ways. One example is rental shading, where some lenders have reduced the shading applied to rental income from 20% to 10%. This means that they will now accept 90% of net rental income when assessment your capacity to borrow. Not all lenders are applying this, just another reason to use a broker with access to over 50 lenders.
Specialist Lending
Do you have a client that has been told by their bank that they have no loan options? Are they self-employed for less than 2 years? Is government assistance their sole source of income?
We have multiple lenders offering niche loan products to help any buyer. It’s all about having options!
Cash Back Offers
Cash bank bonuses continue to be a hot topic with many Australians’ looking to refinance to a lower interest rate. Banks are still offering cash back up to $5,000 for refinances, and for purchases up to $4,000! Even first-time home buyers have an opportunity to receive $3,000 cash back on their first purchase through one of our lenders. Get in contact with us today!
