First home buyer's grant
A welcome announcement by the Government yesterday for the "First Home Buyer's Grant" doubling the $7,000 to $14,000 for existing properties and for new homes increasing the amount to $21,000. This hopefully will have a very positive effect and we should see a lot more Buyers out and about this weekend or certainly within the next couple of weeks.
However, the banks have tightened their belts over the past couple of months, it is a lot harder to borrow 100% of the purchase price now, as was the norm this time last year, they are also looking for a good savings history and stability of employment, but with what has happened in the USA you can understand their thinking.
Unfortunately for people who rent, no relief is in sight as the vacancy rate is still very low, however, maybe now is the time to look at buying a property as you may find your mortgage will not be more than what you are paying in rent. Please give me a call on 0411 664490 if you would like some assistance in this area, and I will introduce you to one of our very experienced Finance Managers who will be only too happy to crunch the numbers with you.
However, the banks have tightened their belts over the past couple of months, it is a lot harder to borrow 100% of the purchase price now, as was the norm this time last year, they are also looking for a good savings history and stability of employment, but with what has happened in the USA you can understand their thinking.
Unfortunately for people who rent, no relief is in sight as the vacancy rate is still very low, however, maybe now is the time to look at buying a property as you may find your mortgage will not be more than what you are paying in rent. Please give me a call on 0411 664490 if you would like some assistance in this area, and I will introduce you to one of our very experienced Finance Managers who will be only too happy to crunch the numbers with you.
Labels: First home buyer, mortgage
posted by Lyn Rowe at
14:56
1 Comments:
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