Change of federal government and interest rates on the rise, is making property investors review their own property portfolio and loan arrangements. First questions they need to ask themselves, can they afford to hold on the existing properties and the current loan repayments? We notice, a growing number of property investors, contacting their mortgage brokers, to locked in interest rates to fixed, in the current low interest rate market, to avoid interest rate hikes.
We also notice, a growing number of property investors, selling off a property or two, to held consolidate their property portfolio, in affordability, performance and return. Also smart first home buyers, who in the property for a few years, to help overcome current cost of living and interest rate hike pressures, are turning their properties, into rental properties, moving back to Mum/Dad, and having a tenant in the property, to help pay the mortgage.
In the current economic and cost of living pressures we are now living with, its now a good time for property owners, investors and first home buyers, to make similar, decision making, to play it safe, with further interest rises, to avoid being caught out, with mortgage stress.