Pizza and Property Weekly Slice 143 The Banking Change that Could Save you Thousands - With John Kefalianos
With so many of us Aussies seemingly stuck in a "mortgage prison" unable to refinance even when in some cases, the rates are more than able to afford too.
This is largely due to the assessment rates that banks use which when they expect to see proof that you can afford 3% over the current rate. So for example, if your rate is 6% you need to demonstrate that you can afford 9% even if you can easily afford that initial 6%.
While this higher assessment rate has been here as a form of protection to the borrower it now seems to be hurting far more than it helps.
Mortgage broker & Property developer John Kefalianos from Finance Labs arrives in the studio for this week to share some terrific news for us investors!
What if we told you that this 3% assessment rate has been lowered down?... WAY DOWN! This is an episode you're going to want to share with a mate to potentially save them a lot of cash.
John unpacks this major change at length and explains the positive benefits that this not only will have on the ordinary Australians mortgage but on the property market as a whole. Stay tuned because this could save you thousands in the long run!
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