PHOTO:STUFF The Reserve Bank has lifted loan-to-value restrictions but that’s not meant much for borrowers yet.
OPINION: Who better to give an insight into what’s happening in the home loan space than mortgage advisers?
I now have four monthly surveys up and running, aimed at delivering insights across different sectors. One of them seeks responses from mortgage advisers.
The chances are high that if you are having a discussion with a group of people about borrowing from a bank, no one will actually know what any particular bank’s lending policies are.
They are essentially a black box that we cannot see into.
But outside the banks themselves, the most informed group regarding those lending policies is the mortgage advisers who seek the best deals for their borrowing clients.
First the numerical results. A net 79 per cent of the 84 advisers who responded said that they were seeing more first-home buyers looking for assistance.
This is consistent with other sources of information telling us that, much as we are all rightly focussed on rising unemployment resulting from efforts to contain Covid-19, not everyone is losing their job. In fact, job numbers rose 17,000 in May.
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