ASB’s announcement of interest rate increases in the 3 - 5 year fixed terms will have a few people starting to think about their loan to debt ratio. Although economists have indicated this year should not see any increases in the shorter term rates, caution is suggested over the next few years as the economic market recovers from the effect of the pandemic.
Banks have been very cautious in their lending as many buyers will attest to. Even though the Loan to Value Ratio (LVR) was effectively negotiable for a period of time, the banks were exceptionally prudent in their lending ensuring there would not be a mass exodus of the housing market particularly by first home buyers as the recovery started.
If you need advice on your lending situation, contact any of our salespeople who can point you to a great mortgage broker.

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