“Our survey results show that rather than be defeated, educated property investors are opting to use professionals to assist them to achieve their goals – regardless of the lending environment.”
- PIPA chair, Ben Kingsley
The times are tough for property investors in Australia, it's hard to predict what the future looks like but the one thing we do know is that more property investors are turning to mortgage brokers for help in procuring and managing their finances. This increase can be attributed to recent regulatory changes to the Australian mortgage market.
Since the recent policy changes introduced by the federal government and the Australian Prudential Regulation Authority, Australian investors are now paying higher interest rates on average compared to owner occupiers, which they are not too happy about. Instead of letting these changes overcome them, sophisticated investors have made the decision to use finance specialists such as mortgage brokers to help them navigate and grow their property portfolios.
Results from a recent survey by the Property Investment Professionals of Australia (PIPA), showed 73% of investors used a mortgage broker’s services to secure their most recent loans, which is an 8% increase from two years before. Property investors are using mortgage brokers to refinance their loans, change to principal and interest repayments and fix their interest rates.
In addition, 83% of investors surveyed planned to use a broker to finance their next loan, which was a 12% increase from two years before.
If you're a property investor feeling the pinch of recent market changes, we can help you find the right solution to suit your individual needs. Contact us today for a free consultation.
Disclaimer: The information provided in this article is not legal or financial advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the recommendations, having regard to your own objectives, financial situation and needs. We encourage you to consult a finance professional before acting on any suggestions provided in this article or on this website.