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In good news for those stuck in "mortgage prison", Australia’s biggest bank, CBA, has announced it will lower the stress test on select refinance applications from 3 percentage points to just 1 percentage point.
By the APRA guidelines, banks are required to subject all new mortgage applications, including refinancing, to stress tests.
But moves by our two biggest home lenders to cut the serviceability buffers they apply to borrowers wanting to refinance could be a sign that we're heading towards peak interest rates – and shows that competition in the mortgage market remains intense. It has been a long and bumpy ride but it looks like we are nearly at the finish line.
The team and I look forward to seeing you this weekend.
John
16 Karoomba Avenue, Herne Hill - Private sale
Situated in a tightly-held pocket of the evergreen suburb of Herne Hill. This two-bedroom brick unit is spacious, low-maintenance and functional. With a promising rental potential for investors, or a great entry-level abode for first home buyers, look forward to this opportunity coming to the market this Spring. Please contact Callum on 0455 504 408 for any queries or if you require more information about this property.
119 North Valley Road, Highton - Private sale
Nestled in a coveted blue chip pocket of Highton, this property offers a rare opportunity to indulge in breathtaking views of Geelong. CURRENT TENANCY IN PLACE UNTIL OCTOBER 2024.
14 Stafford Street, Herne Hill - Forthcoming auction
Options on offer with this original brick home, set on massive block of approx 850m2. 3 bedrooms, study or 4th bedroom, updated family bathroom, seperate lounge, meals & original kitchen. Two garages plus plenty of room for extension, pool or garden. If development is your goal, then this could be the perfect next project (STCA).
44 Montrose Place, Highton - Private sale
Quintessential family entertainer home over two levels. Four bedrooms, open plan kitchen and dining plus multiple living zones and outdoor entertaining spaces, from an upstairs balcony area capturing views to the East down to a covered alfresco area overlooking the inground pool and still enough yard space to kick the footy.
13 Tanunda Grove, Belmont - Private Sale
Tranquil, picturesque, exceptional. They’re just a selection of the many compliments we can use to describe this charming home in an undisturbed court location. Presenting five spacious bedrooms, three bathrooms and multiple family living zones, this high-quality colonial brick home offers commodious living for growing families with a serene street position, nestled within a tightly-held pocket of Belmont.
38 Baelish Drive, Charlemont - Private sale
Newly built four bedroom home with zoned living areas, quality fittings and furnishings and fully landscaped.
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