Mortgage brokers report busy times as first-home buyers take advantage of the First Home Loan Deposit Scheme from the Federal Government. But other owner-occupiers and investors are also keen, say independent mortgage brokers.
The pattern is most
apparent in Melbourne, with Chris Foster Foster-Ramsay, a principal
mortgage broker at Foster Ramsay Finance, saying he was "flat
out" processing applications. His appointments have so far been
up by 200 percent year-on-year since November. Most applications have
come from first-home buyers and upgraders with many interested in
$600,000 to $700,000 range of Melbourne properties.
“There are decent
properties close to transport, schools ... what that means is as soon
as the property is coming on in those fringe suburbs anywhere between
the $300,000 to $400,000 range, the competition is excessive.”
Melbourne-based director of 40Forty Finance and mortgage broker Will Unkles says business is booming with inquiries far stronger than half a year ago. The Lending Alliance mortgage broker Keegan Rezek, based in Sydney, confirms that the overall number of applications for home loans has recently been caught up.
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