As previously mentioned financiers have increased their Fixed Interest Rates for home loans between 1 to 5 years. Here is a comparison of Owner Occupied Fixed rates :-

Whilst lending institutions are still lending, the lending criteria and policies have constantly changed over the past months and are constantly under review. The most recent change has been the increase to their serviceability models. Their “assessment criteria” with serviceability criteria commences at 5.35% upward. The “Assessment Criteria” is what the lenders utilize as a minimum to gauge the applicants capacity to meet loan repayments should interest rates rise.

If you are considering refinancing or purchasing a new property for investment or owner occupied, contact Paul to discuss all the options.