As a mortgage broker, I’ve noticed some interesting trends this year. The knowledge gap between bankers and brokers about bank policies is huge. It’s wild!
I’ve found that just threatening to leave your current bank can get you a better rate. They really don’t want to lose customers. It’s worked every time for me so far.
More people are looking into SMSF loans because they’ve maxed out their personal borrowing. But watch out! Some big banks are still charging high rates for these.
I’m seeing brokers push ‘unlimited’ property buying through companies or trusts. This worries me. It’s not great advice for everyone and could cause problems. Always talk to an accountant first!
In Victoria, homes under $800k are still hot. Above that, not so much. People just can’t afford bigger loans right now.
What do you think? Have you noticed anything else in the mortgage world lately? Let’s chat about it!
Great insights! I’ve noticed a growing trend of lenders tightening their credit policies, especially for self-employed borrowers. Many are now requiring more documentation and scrutinizing income more closely.
Another observation is the rise of green mortgages. Some lenders are offering better rates for energy-efficient homes, which is gaining traction as energy costs soar.
Also, the refinancing boom seems to be cooling off as rates stabilize. Instead, we’re seeing more first-time buyers entering the market, often with help from family for deposits.
Regarding SMSF loans, while they’re popular, I’ve found many clients underestimate the complexity and ongoing compliance costs. It’s crucial to educate them thoroughly on these aspects.
Lastly, digital mortgage applications are becoming the norm. Lenders without streamlined online processes are starting to lose market share. It’s an adapt-or-die scenario in the digital age.
Interesting observations! Have you noticed any shifts in lender preferences lately? I’m curious if certain banks are becoming more competitive or if non-bank lenders are gaining traction. Also, how do you think rising interest rates might impact these trends going forward?
yo, ive seen lenders gettin real picky bout investment properties lately. theyre askin for way bigger deposits n stuff. also, fixed rates r makin a comeback. peeps r scared rates’ll keep goin up. n dont even get me started on all the fintechs poppin up w/ their fancy ai n stuff. its wild out here!