MELBOURNE MORTGAGE FINANCE LENDING UPDATE – 08.12.20

PRODUCT OF THE MONTH owner-occupier Home Loan with a fully fixed rate OR with part fixed rate / part variable rate example : 80% of loan can be fixed at 1.97% / 20% variable variable portion has redraw facility and can be connected to up to 10 separate offset savings accounts offset savings accounts can be in different names (individual or joint names) available for purchase or refinance maximum loan up to 90%+LMI $349 annual package fee NEW FIRST HOME LOAN DEPOSIT SCHEME (F

MELBOURNE MORTGAGE FINANCE LENDING UPDATE – 01.10.20

CONSOLIDATING DEBTS WITH HIGH RATES AND HIGH REPAYMENTS borrowers often struggle with high monthly repayments on personal loans at 10% and credit card debt at 20% this debt can be refinanced into a housing loan at rates from 2.19% the refinanced debt can be isolated into a separate loan split and paid off over a much shorter loan term UNLIMITED NUMBER OF DEBTS CAN BE CONSOLIDATED AND REFINANCED one lender allows an unlimited number of debts to be consolidated into one single

MELBOURNE MORTGAGE FINANCE LENDING UPDATE – 14.06.19

LIVING EXPENSES ARE NOW A KEY ISSUE in the past, lenders generally used minimum poverty line living expense allowances when assessing loans most lenders have recently increased the allowance for living expenses when calculating borrowing power increased allowance for living expenses can significantly reduce customer borrowing power most lenders now require applicants to complete a detailed Living Expenses worksheet as part of an application some lenders require the last three