Yet another reason to use a Broker.
Over the past few months I have seen the trend of Banks raising Interest Rates for Investment Lending. One of the main reasons is that the government has told the banks that they must raise capital to offset against the money that they have lent (hence the cost increases have been passed on).
This is a government enforced protection strategy to control Market Growth, but Westpac’s decision to raise interest rates across the board for Both Investment and Owner Occupied Lending certainly took most people by surprise.
Some reports came out saying that this was the end of the property boom in Sydney. Now THAT is a Left Field Comment as on the same day that Westpac raised their rates other banks dropped their rates for Owner Occupied Lending.
There is a lot of information & misinformation out there and it’s very important to have the right objective knowledge to help you make strong decisions. As a Broker, it’s what I do – tell you the truth of what is going on out there and help you find the best product to suit.
If you want to learn more, please don’t hesitate to contact me – here to help.