In the words of Mahatma Gandhi, “Action expresses priorities”.
Now is the time to take action on having a Finance Health Check while you still have some say in the outcome. Make it a priority!
Mainstream lenders continue to tighten policy with the latest change being the revision of Loan to Income ratios.
In recent times, we have seen other tightening of lending policy with the following changes being implemented.
- Cost of living allowances closely analysed and tightened.
- Interest only borrowers paying a premium on rate for the privilege.
- Investors paying a higher rate than owner-occupiers.
- Loan to Value ratios reduced in some cases.
- Serviceability calculators tightened.
What does all this mean to you?
Well if you haven’t checked your own loans recently you could be paying too much.
Lenders offer discounts to new clients while leaving their current clients out in the cold.
I know we are all busy but my advice to you, is to put some time aside for yourself and work with us on a Finance Health Check. Before it becomes out of your control.
With APRA continuing to insist that lenders put the handbrake on policy, borrowing will become tougher in the foreseeable future, meaning you could be stuck in an interest rate that is higher than you deserve to be paying.
APRA is also now regulating non-bank lenders so their lending criteria will start to tighten also.
Do yourself a huge favour and take action today! Spend time on your own affairs.
The process may only be an hour or two of your time. Please call me today for a chat and we’ll get the process underway.