Past weeks have seen a media storm in our industry about APRA recommendations for lenders to change policies for investors.
The premise behind it is from regulators looking to restrict the amount of lending to investors and promote / allow lending for owner occupiers.
What really happened was that APRA and the banks decided to no longer allow low deposit loans for investors. Investors using 5% and 10% deposits may be a thing of the past.
Realistically most of our clients use a 20% deposit to buy their properties or have equity available in other properties for them to use as security / collateral. With this in mind the APRA guidelines do not have much or any impact on our clients who invest in this way. It also has no impact on our owner occupier clients.
So when you hear the media talking up a storm like this, always check the facts about what was actually decided. In this instance you will see there is very little to make a noise about at all.
It does however, draw attention to the property market, and people who possible have been living under a rock, will now know that it is a great time to be active. This sort of large announcement will generally create more activity and not less, as was possibly the intent.
Make sure you are part of the moving property market and not left on the jetty, watching it sail away.
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