The banking regulator has signalled it could ditch its 10 per cent cap on lending to property investors as the measure is “probably reaching the end of its useful life”.
Smaller lenders have criticised the 10 per cent cap for holding back competition.
The marketplace would welcome APRA addressing the cap’s current settings in order to improve competition, which will ultimately benefit the consumer.
Under pressure from regulators, banks have also in recent years overhauled their systems for assessing customers’ incomes, their debts, their cost of living, and their sensitivity to higher interest rates.
Now is the perfect time to seek professional advice if you are considering property investment.
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Softer conditions in home lending are prompting the country’s banks, whose loan portfolios are dominated by residential mortgages, to target growth opportunities in specific customer segments, including property investors and first home buyers.
Under the Australian Prudential Regulation Authority’s rules to dampen the housing market, no more than 30 per cent of new bank home loans can be interest-only, and banks’ housing investor loan books can grow no faster than 10 per cent.
The big four banks are now all well below these caps after various moves to increase interest rates and tighten credit.
Now is a great time to invest in property and source a great financing package in a highly competitive marketplace.
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Some people get overwhelmed when considering a property investment and quit before they even begin. Reality is, property investing is relatively straightforward, especially when you partner with the right professional.
What does success look like to you? Property investors generally invest in property to secure their financial future or to be free to do what they want, when they want it.
Understanding the property market is the key to making the right investment decision.
Strategic Investor Group exists to create your unfair property advantage with advice regarding location, investment strategy, debt structuring and property acquisition.
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What is Airbnb doing to our Sydney property market?
Complete the feedback form here and let’s talk about how you can best take advantage of the property market.
To view other Coffee with Kiril episodes and other Strategic Investor Group videos – please visit our YouTube channel
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Strategic Investor Group is starting 2018 with a bang!
We are thrilled to announce that Strategic Property Finance has been recognised as one of the country’s top performing mortgage brokerages in Australia for this year securing a place in the highly competitive list of The Adviser’s – Top 25 Brokerages for 2018.
The ranking was revealed in the February 2018 edition of The Adviser, Australia’s top publication for Australian mortgage and finance brokers. This was also determined by scores in five (5) key areas:
Total book size
Total loans settled
Total volume of loans settled
Book size versus years in business
Average broker volumes
Annie Kane, editor of The Adviser, said, “Each year, The Adviser’s Top 25 Brokerages benchmark ranking celebrates the success of Australia’s top brokerages. This year we saw a significant increase in non-franchise brokerages making the list, but with the top end of the table still dominated by major franchise players, it goes to show that there is no one-size-fits-all model and that success comes in many shapes and sizes. “
We are also very proud to announce that Alex Lambros has ranked no.11 on Mortgage Professional Australia’s Top 100 Brokers for 2017. This highlights individuals who, through their dedication, are extending the boundaries of what a broker can do through efficiency, consistency and client service.
Moreover, Alex is a finalist for The Adviser’s Better Business Awards – Best Finance Broker category for 2018, which recognises and celebrates brokers who are the best in the industry in their local market.
Our mission is to create an environment where advice, finance and property buying teams work together to create true value for our clients and the ability for them to realise the property market’s true potential. Being recognised and to be ranked among the very best in the country is a fantastic recognition on this delivery.
We would like to extend our gratitude towards The Adviser and Mortgage Professional Australia recognising our efforts and congratulate all of the brokerages who made the list.
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Australia’s banking and finance system delivers higher profits to only a few and rips off its most loyal customers, a Productivity Commission report has found.
The commission found loyal customers were “ripe for exploitation”, with one in two people still banking with their first bank. Only one in three have considered switching banks in the past two years, accepting interest rates on home loans up to 0.4 per cent higher than new customers.
Banks responded to orders from the Australian Prudential Regulation Authority to curb interest-only mortgages by raising interest rates – not just for new loans – but for all existing investor loans.
Now’s the time to seek professional advice and review your property investment strategy and mortgage interest rate.
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