Andrew Wheatley

Again, another example, a couple, I just bought a property a couple of weeks ago.

We were having this chat and I was starting to talk them up about, you know, same talk.

You find the right property.

Don't be afraid to get in there and get it.

And they said, have you been talking to the agent?

They said, oh yeah, we did talk to the agent.

No one's even looked at the property for the last three weeks.

They haven't had any offers on it.

And I was sort of taken aback and I said, oh, well, in that case, maybe get in and make a lower offer and put a finance clause in.

They came back the next day and the offer was accepted for $40,000 less than they'd told me they were thinking of offering with a three-week finance clause.

Amazing.

I could never have heard that a year ago.

Oh, that's so true, Craig.

We've mainly been talking here about borrowing power.

So there's two main things banks are looking at when you buy a property.

There's how much can you borrow?

That's based on your income and your expenses.

But then they're looking at what sort of deposit can you put down?

There's a real fixation around things like that you have to have a 20% deposit.

And somehow it's like everybody in Australia