Those of you who are on the pre-approval train, or have already received your pre-approval and are in the market may have noticed the speed at which houses are entering and leaving the market at the moment!
It’s a fact, home loan activity is at historically high levels, according to the latest data from the Australian Bureau of Statistics.
Australians committed to $31.4 billion of home loans in November, which was 6.3% higher than the previous month and 33.2% higher than the previous year.
Owner-occupier borrowing was up 7.6% on the month and 17.2% on the year, while investor borrowing was up 3.8% on the month and 86.9% on the year.
It’s a busy time, and houses are literally hot property, but that’s no reason to wait, or wonder.
So, you want to enter the market this in 2022?
Here are some pragmatic tips from the experts (us!) for acquiring a home loan and getting your foot confidently in the property market:
· Maximise your credit score – pay all your bills on time and reduce your credit card limit
· Get started early – it can take several weeks to get a home loan pre-approval
· Speak to a broker – brokers can compare loans and access special deals on your behalf
Get in touch today and we can support you through those first few steps to owning property!