Despite a potential rate rise on Tuesday, lenders are ready to do lucrative deals with borrowers who meet these conditions.
Lenders are cutting their mortgage rates by more than 2 percentage points – despite a potential cash rate increase on Tuesday – in backdoor deals for borrowers with big deposits, impeccable credit histories, reliable incomes and properties in the right locations.
A consistent employment record. Each bank has its own approach to assessing additional pay such as commissions, bonuses, overtime, shift allowance and other loadings. Barry Thatcher, managing director of Thatcher Finance, adds: “Lenders are chasing new business. The rates between lenders vary so much. Some rates are much lower and they give small discounts, while others have a much higher rate and the discounts are bigger.”Tindall says lenders set the higher benchmark rates in the expectation of making big discounts to qualifying borrowers.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grim sign tick season has arrived in AustraliaAustralians have been urged to take caution outdoors this summer following a growing number of tick sightings in suburban areas.
Read more »
Republicans welcome local benefits of climate law despite voting against itNancy Mace and Marjorie Taylor Greene among those accused of hypocrisy over efforts to gut landmark Inflation Reduction Act
Read more »
Bailey backs Qld digital licences despite glitches, scam warningsMore than 11,000 people had downloaded the new app by Wednesday afternoon as an expert warned Queenslanders to take steps to protect their personal data.
Read more »
Top secret Luna Park attraction revealedLuna Park, Sydney’s iconic theme park, has unveiled its top-secret $15m attraction that is set to bring the venue into the future.
Read more »
Melbourne Cup trainer Gai Waterhouse’s secret to success: ‘I read the horse’Gai Waterhouse had to defy the weight of her famous father to become a female trailblazer and legend of the track.
Read more »
The Victoria’s Secret Angel leaving the bras behind for Derby DayAlessandra Ambrosio made a fortune baring her belly button, but will cover up for the Melbourne Cup carnival.
Read more »