Jul 31, 2023
There’s still plenty of opportunities available to
borrowers, according to Finni Mortgages’ Eva Loisance, who sat down
with Phil Tarrant for the latest episode of the Smart Property
Investment Show.
Eva explains how some major lenders have now decided to apply a 1
per cent buffer instead of the usual 3 per cent in certain
refinancing circumstances. This shift could significantly impact
borrowers’ ability to move their mortgages between banks and
potentially escape what Eva refers to as “mortgage prison”.
They delve into the specifics of these changes, highlighting how
they primarily target owner-occupiers and are also available for
investors with a clean repayment history. Eva also notes that some
banks are now allowing for cash out options, signalling a trend
towards more flexibility in the lending industry.
Phil and Eva discuss the broader implications of these changes in
the lending industry, emphasising the crucial role that property
investors play in providing rental accommodation.
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