Monthly Archives

November 2023

Monthly Archives: November 2023

RBA increases interest rates by 0.25%

By | Latest News

On Tuesday the 7th of November 2023, the RBA decided to increase interest rates by 0.25%, which has taken the cash rate to 4.35%. This increase in interest rate has had an effect on all borrower’s, capacity to borrow. As interest rates climb, your ability to borrow is reduced- so what are some of the things you can do to limit the damage to your borrowing capacity: Choose your lender carefully: Most lenders will have you pre-approved for a certain loan amount at a certain purchase price. If interest rates…

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How to speed up your home loan approval

By | Tips

Asking how long it takes to get a loan approved is like asking how long a piece of string is. Every application is unique, so the time between your first contact with your bank or broker and approval can never be predetermined. There are, however, some things you can do to help hurry your application along. Although very rare, same-day loan approvals are possible depending on the lender’s criteria, the complexity of the deal, and turnaround time.  This has been possible when the client’s lending position is fairly straightforward in…

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