OzBroker March Newsletter – March 2022

5% Deposit for First Time Home Buyers

The Australian Government had given 4,651 more guarantee slots for the FHLDS to assist first-time buyers who have been unable to acquire a home due to COVID interruptions and other factors from January 21, 2022. However, recent update from many participated lenders proved that these placements are running out pretty fast. First Home Loan Deposit Scheme (FHLDS) ran out of openings in October 2021 because of its popularity. Many of them have already closed the waiting list and we assume that those placements will be completely gone in next few weeks.

If you are a citizen interested in purchasing your first home (either brand new or second hand) with 5% deposit in this financial year, now is the best time to call us to get qualified and lock this opportunity.

Interest Rate Rises

March RBA meeting maintains cash rate at 0.1%. However, based on global inflation figures and forecasts, RBA will undoubtedly take those data into account and adjust the cash rate. Market is expecting the rate to rise later this year maybe after the election.

In February and early March, nearly every lender responded to the change on the market and hiked their fixed rate. Majority of the two-year fixed-rate products are now above 3%. We still continue to offer a low 2-percentage-point variable rate from some of our panel lenders which could be a good alternative for you depending on your situation.

Should I fix my loan right now? Possibly, based on your projected cash flow and overall financial situation. If you are planning to acquire a home and are looking for a fixed rate contract, you should absolutely investigate the rate lock option. This month, we have several rate lock special deals from a variety of lenders.

Debt Consolidation

Many of you will have debt in your life. But do you know that there are ‘good debts’ and ‘bad debts’?

The right sort of debts can have a huge positive impact on your financial wellbeing. Even bad debts have value if handled correctly.
No matter what sort of debt you have, there is a solution for you. If you’re looking for advice on how to handle your debts, talk to one of our experts for a free consultation.

Follow us on below links for latest news through our social network channels:

Facebook: https://www.facebook.com/OzBrokerPlus
Linkedin: https://www.linkedin.com/company/ozbroker
Twitter: https://twitter.com/ozbroker

For any queries contact Mr. Victor Wang our Credit Adviser at 0426 667 696 or send email to:

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top