Lending update: interest rates and borrowing capacity improvements

Investopoly · Sep 30, 2020 · 19m

The government made an important announcement last week. This change could substantially increase your borrowing capacity in the next year. It is perhaps the most significant change that has occurred in the last decade and will further fuel property price growth.I also wanted to update you on interest rates, particularly in light of recent expectations that the RBA will soon cut rates again.A positive change for investors and the property marketIn 2009, the government re-wrote the laws governing the provision of loans. This required mortgage brokers and lenders to ensure that any new loans…