Mortgage Squeeze Hurting
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What is the mortgage squeeze affecting borrowers?
it's the real estate podcast brought to you by anz home loans for financial well-beings and welcome to another episode of the real estate podcast available on iheart radio every morning and also on spotify and apple and wherever you get your podcast from well it's a thursday morning it's back with us yes the 29th day for september for 2022 And coming up this morning, we are talking to Andrew, a mortgage broker there in Melbourne, about scraping your money together to secure that property purchase before Christmas. Oh, there you go. I've said the C word. Is it too early? It's probably too early. But on Saturday, we are into the 1st of October, so maybe not. And we're going to be having a look this morning at different ways to putting together your finances with Andrew and the problem that people are facing with banks recalculating mortgage approvals, which can vary, they can change, and they can stop someone in their tracks once that cash rate does its monthly thing, which is fast approaching, of course, next week.
In other words, the goalposts are changing. So we'll have a look at that very shortly.
It's your weekday real estate breakfast with news, interviews and predictions every morning on The Real Estate Podcast.
And coming up next week, we're going to be looking at the two different sides of the real estate market. And realestate.com.au did a nice piece yesterday about some segments of the property market cooling down, of course, slowing down. Vendors are having to meet the market and That is one side of the coin, but commentators and experts alike agree that there is one type of buyer right now that is still keen and is buying at the top end of the market.
How are recent rate rises impacting borrowing capacity?
And from Sydney to Perth and from Brisbane to Hobart, Families are driving intense demand for quality properties in leafy pockets close to schools, restaurants, cafes with those great lifestyle amenities. And we'll be taking a look at the bigger picture into that next week right here on The Real Estate Breakfast. If you're celebrating your birthday for today, the 29th, happy birthday to you. Have a fantastic Thursday. A very short list. Julia Gillard, she is celebrating her 61st birthday, Australia's 27th Prime Minister. And from the history books from 1994, a very dark day, the sinking of the MS Estonia, You might remember this, a passenger and car ferry sank in the Baltic Sea, killing more than 800 passengers.
It's considered to be the worst maritime peacetime disaster of the 20th century.
It's your real estate podcast for breakfast. It's the Maine Centre Forecast with PRD, selling smarter every day.
Let's check on your weather around Australia. First, we go to Sydney. Grab the raincoat because the rain is back on our Thursday morning, expecting a high of 19 degrees.
What challenges do second property buyers face?
In Melbourne, cloudy skies should be mainly dry, though. Temperature not too bad, 18 today. In Brisbane, expecting mostly sunny skies. 27 is your forecast high. And in Perth, almost 30 degrees today. Sunshine with blue skies. And enjoy your Thursday in Perth.
We talk with leading property commentators with analysis, predictions, forecasts and what's trending every morning from 6.30.
Well, as a result of the mortgage rate rise and the home budget being squeezed, this has had an adverse effect on people's borrowing capacity. I mentioned that Domain has recently reported a couple earning... Two average incomes of $92,000 each are borrowing $264,000 less than they could have back in April. So let's sort of dive into this a little bit and welcome in mortgage broker Andrew Wheatley there in Melbourne. And good morning to you, Andrew. Welcome to the Real Estate Breakfast. Thank you, Craig.
How do changing valuations influence mortgage approvals?
And somebody tells me that today is your birthday, mate. Happy birthday.
Thank you. This is probably the only time in my life I'll make the celebrity birthday list. So thank you.
Yeah. And I guarantee you that you will never do a podcast again on your birthday.
Thank you. I'll try to.
All right. So, yeah, let's just have a look at this because it's not just first home buyers, because people buying a second property, valuations, they are changing as we know.
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Chapters
8 chapters
1
What is the mortgage squeeze affecting borrowers?
0:02–1:57
2
How are recent rate rises impacting borrowing capacity?
1:57–3:21
3
What challenges do second property buyers face?
3:21–4:30
4
How do changing valuations influence mortgage approvals?
4:30–5:10
5
What should clients know about pre-approval policies?
5:10–7:04
6
How can expectations shift for homebuyers in this market?
7:04–8:39
7
What creative strategies can help with deposit requirements?
8:39–9:49
8
What are the implications of finance clauses in property contracts?
9:49–13:35
Speakers
3 identifiedMore from Aussie Real Estate Podcast
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