colinrealestate

We commented last year that following the collapse of so many finance houses and subsequent Government payouts under the guarantee scheme, mainstream banks quickly became the ‘safe’ resting place for investor funds.

Well, the pressure of that money has come through to the market and most banks are now offering incentives to potential mortgage clients and have definitely freed up lending criteria for sound clients. Note too that the Fixed Rate loans, especially two year, are becoming competitive with Variable Rate offerings. It is also worth noting that in view of the sluggish internal economy, it is unlikely the Reserve Bank will move of interest rates until at least the end of the second quarter this year.

Filed under: REAL ESTATE | Tagged: Real Estate