The Kings Birthday long weekend is upon us and the Greek Glenti takes up its usual residence on the magnificent Esplanade.

We now offer asset finance, great news Access 40+ asset finance lenders

We're excited to announce that we now offer a broader range of finance options, providing you with solutions above and beyond home loans.

We can now support you with asset finance options suitable for a vast range of purposes, and with over 40 dedicated lenders, you have plenty of options.

Just some finance options we can help with:

•             Care (new or used, dealer or private)

•             Caravans and campers

•             Boats and jet skis

•             Motorcycles

•             Home improvements

•             Holidays

•             Weddings

•             Debt consolidation

•             And, much more

Options are also available for commercial purposes, such as equipment, trucks, yellow goods, machinery and even business funding.

If you're interested in any of the above, please don't hesitate to reach out - we're here to help.

Serviceability Buffer reduction

One of our major banks has lowered the buffer rate from 3% to 1% which will open up lending to some borrowers who are not getting loans approved due to serviceability.

This offer is for re finances only.

More information on serviceability here: https://arafin.com.au/serviceability

Interest Rates, where to now?

The Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points (bps) to bring the official cash rate to 4.1 per cent from 3.85 per cent in its 12th cash rate hike since the central bank began raising rates in May 2022.

This marks first time the official cash rate has sat above 4 per cent since April 2012, when it was at 4.25 per cent.

RBA governor Philip Lowe said on the decision: "The Board is still seeking to keep the economy on an even keel as inflation returns to the 2–3 per cent target range, but the path to achieving a soft landing remains a narrow one. A significant source of uncertainty continues to be the outlook for household consumption."

Cashbacks – up to $4,000

Most major lenders have now shutdown cashbacks.

Property values and other statistics

Darwin property values have increased by .4% during the last month. This result lags behind all the major capital cities. Houses are doing better than units.

According to CoreLogic the last 12 months show Darwin property values as almost breakeven. This result sits with Adelaide and Perth, ahead of the rest.

Palmerston and Darwin City have outpaced the Northern Suburbs.

Darwin is the cheapest capital to buy property in with a median value of $492,000. Rents in Darwin have softened. Darwin and the wider NT are leading the pack on gross rental yields.

Nationally investment property lending is on the rise.

Please don’t hesitate to contact me should you have an enquiry.

Regards,

Nicholas Kirlew

Mortgage Broker