Recently you may have seen or read in the news recently regarding government imposed changes which means the four major banks and many other lenders have raised interest rates on home loans and investment property loans.
This has been a government response due to their concerns about rapidly rising property markets, especially in Sydney and Melbourne.
What do these changes mean for you as a Doctor?
- The interest rate on your home loan and/or investment property loan has likely increased recently, or is about to increase.
- In addition, if you are looking at buying an investment property, you are likely to find your choice of lenders more restricted than in the past.
- Lenders are also being more conservative in assessing how much you could borrow.
The good news is that a Lending Consultant (also known as a Mortgage Broker) who has Specialist Knowledge of Lending for Doctors can often obtain more competitive interest rates and make this as easy as possible for you.
What should doctors do?
First step is the same whether you already have loans in place or if you want to get new loans or increase your lending. The step is to contact us and arrange complimentary check of your current situation. We will check to competitiveness of your current loans including both the structure and interest rates – to decide if it is the best possible deal for you. Remember that doing reviews like this right now can avoid months or even years of your hard-earned money draining out of your bank into the clutches of the lenders. (They don’t want you to get a review!)
Reviews can be done very quickly, and all it takes is a quick phone call or email to us. We will take care of the rest.
If you are looking at buying a property, Doctors Wealth Property can assist you:
• Access the best lending offers from over 30 lenders including special lending offers for Doctors,
• Negotiate the best interest rates on your behalf,
• Structure your loan best for tax purposes, and
• Make it as easy as possible to set up your new loan or refinance your existing loan to save you time, money and headaches.
Not only that our property buying service can remove all the stress and hassle – letting you get on with more important things!