2009
Tough Borrowing Rules impact Property Investors
Filed under: Business Advice, Investment Property
I have been dealing with an ever increasing number of successful property investors who have reached or even passed bank lending thresholds. Going back two years the recipe was easy. Use other people’s money to buy property. When the property increases in value leverage the equity gained and start again. Income rarely came into it
Getting a mortgage out of a bank is getting as hard as fermenting wine in a gumboot! Naturally, with house prices and interest rates dropping, we have an increasing number of clients wanting to buy property. Frustratingly, the banks keep tightening credit criteria because (1) they don’t have enough funding to meet demand and (2)
A number of clients tell us they get no-value from having a Business Banking Manager. And yet it wasn’t by choice and they end up paying for it with generally more expensive pricing!
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