Finance options for property purchases

FINANCE OPTIONS FOR PROPERTY PURCHASES

From 1 January 2019, The Australian Prudential Regulation Authority (APRA) lifted restrictions on interest-only residential lending in an attempt to stabilize Australia’s housing market. Initially imposed to moderate higher risk lending, the measure was compounded by the banking royal commission which saw a number of banks tighten their lending standards whilst they were under the microscope so to speak. With national housing prices on the decline and the reversal of APRA’s lending restrictions, opportunities now exist for borrowers who are looking to refinance or experiencing financial hardship as they could potentially benefit from cheaper interest only loans.