It’s quite incredible to think that the record low official interest rate has now been unchanged for a record 26 months straight at 1.50%.
Finance experts across the board are expecting this record low to remain through to at least 2020.
What this means to those currently paying off a home loan mortgage is we can be as certain as we can be, that home loans are extremely unlikely to rise.
This is a very good thing for those looking to buy their first, second or fourth home.
Another positive for those looking to buy their first home is the tighter lending policies enforced on banks.
This is a good thing for two reasons.
- The tighter control is seeing banks offering some more competitive rates to secure your business
- The tighter control means extreme care is being taken in ensuring you can actually repay your home loan.
At Brad Lipp ‘The Land Man’ we strongly recommend using a Mortgage Broker as they are across the latest rates being offered across the various lending institutions.
As it’s getting more challenging to secure a loan, a broker can help possibly find the right option for your circumstance.
This is a service we offer to help you secure your ideal land to build a new home on. We also have exclusive House & Land packages to complete your new home journey. At the same time, our Mortage Brokers will also take you through plans to help you reach a position where you can secure a loan.
Contact Brad Lipp ‘The Land Man’ for more information on the best local Toowoomba region Mortgage Brokers. M: 0450 201 511 E: Brad.Lipp@Coliiers.com