• Terri Miller Shore Financial & Denise Cameron

Be Informed, here's what you need to know about the Lending & Finance Market

The lending market is forever changing and always full of surprises, on Monday morning Commonwealth Bank announced their demerge with its wealth management company Colonial First State and mortgage broking business Aussie home Loans. As questions have been arising in light of the royal commission around the fairness of such partnerships.

A few weeks ago APRA lifted the 30% investment lending cap on the banks. This has allowed the lenders to introduce sharper investment interest rates with ANZ dropping some of their fixed rates by up to .26 basis points.

With the pressure of the Royal Commission on the banks getting a home loan may appear harder than ever however, this is not necessarily the case! While many of the major lenders have been heavily scrutinised for delving in misconduct this has given the mid-tier lenders, credit unions and non-conforming lenders the perfect opportunity to step into the light and showcase what they have to offer.

Denise's advise is "A mortgage brokers assistance has never been so crucial as it is right now, informing clients and presenting them with all the options is a necessity if they wish to purchase their dream home" My suggestion is always for you to explore your options and speak to an independent like Shore financial as they will shop around and find you the right deal for your needs. It always surprises me how many people just go with the bank they use and don't explore their options first where they could be saving thousands of dollars if they had just made a few more calls.

Shore Financial currently have access to owner occupied rates starting from 3.49% and investment rates from 3.79%.

Please do not hesitate to contact Terri anytime on 0413 185 199 she is there to best help you however she can as our client.

Terri Miller Credit Adviser CR 491039 | ACL 501018 A: Level 3, 153 Walker Street, North Sydney, NSW 2060 M: 0413 185 199 T: (02) 8076 7965 W: www.shorefinancial.com.au