-- Australia’s property market is in the growing stages of a property bubble according to new statistics published by the Australian Prudential Residential Authority, which has seen mortgage debts more than double since 2008 to a staggering 1.4 trillion dollars. Mortgage Broker Melbourne is in the center of the hotspot for property prices in the country, and has published a new analysis of the situation, stressing the importance of responsible lending by responsible providers, advising borrowers to tread very carefully in the coming years.
The new advice from Mortgage Broker Melbourne (http://mortgage-broker.melbourne) takes the time to outline why private debt in mortgages has a more profound effect on economics and interest rates than sovereign debt seen in other countries, and why individuals should take responsibility for not adding fuel to that fire. What’s more, they describe the practices of mortgages funded through offshore funds, and why individuals should avoid these when deciding on their lending provider.
The briefing also includes contextual information on the eastern states housing boom, negative gearing and capital gains tax discounts, all of which will affect people’s chances of getting a loan. They conclude by explaining how mortgage brokers can help people navigate these obstacles in order to still secure responsible, reasonable mortgages from reliable providers.
A spokesperson for Mortgage Broker Melbourne explained, “A property bubble is bad for everyone. Individuals are tempted by attractive mortgage rates allowing them to borrow more and spend more, only to be unable to pay it back. Meanwhile prices soar, meaning individuals are forced to borrow more. This is why it is more important than ever for individuals to find responsible lenders who will offer them reasonable affordable rates on mortgages they can realistically afford, that can still result in the purchase of a home they will be able to keep when they pay off their mortgage in 25 years’ time.” See more on the Mortgage Broker Melbourne Facebook Page Here.
About Mortgage Broker Melbourne: Mortgage Broker Melbourne handle loans for any purpose, whether it’s a first home, or a second or third, buying an investment property, refinancing an existing property, loan consolidation, or even buying property for a self-managed super fund. They offer a simple and streamlined process and their staff have the knowledge and experience to find the right lender and the most competitive rates. For more information please visit:
Contact Info:
Name: Rob Pierce
Email: Send Email
Organization: Mortgage Broker Melbourne
Phone: 3946 6930
Website: http://mortgage-broker.melbourne/
Release ID: 110353
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