She says the first homebuyer’s scheme doesn’t offer sufficient support to get younger Australians on the property ladder in the unrealistic markets of Melbourne and Sydney.
Th HashChing loan is available to professionals in a range of fields including finance, IT and engineering and also waives lender’s insurance. “Many young people have often leveraged the bank of mum and dad, but there’s a number of people out there, a large portion of younger people, that don’t have the bank of mum and dad to access.
“The lender is analysing their suitability, affordability and also the applicant’s discretionary spend,” she said. Financial markets last week indicated a 48 per cent chance of a cut tomorrow off the back of low inflation and weaker-than-expected economic growth numbers.“I think it’s going to be a hold by a whisker,” Saxo Bank markets strategist Eleanor Creagh said. “We don’t have quite enough to tip them over the edge just yet. They’re probably going to wait until after the election when the political uncertainty has subsided.