The ever-evolving mortgage landscape

Eva explains how some major lenders have now decided to apply a 1 per cent buffer instead of the usual 3 per cent in certain refinancing circumstances. This shift could significantly impact borrowers’ ability to move their mortgages between banks and potentially escape what Eva refers to as “mortgage prison”.

They delve into the specifics of these changes, highlighting how they primarily target owner-occupiers and are also available for investors with a clean repayment history. Eva also notes that some banks are now allowing for cash out options, signalling a trend towards more flexibility in the lending industry.

Phil and Eva discuss the broader implications of these changes in the lending industry, emphasising the crucial role that property investors play in providing rental accommodation.

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