Mortgages During CovidRecessionAndPandemic
Anita from advancedfinance.com.au talking mortgages during the current C R A P event.
You are getting a lot of buyers coming out going right what what bargains are out there. What can we get this property for? And it certainly created a little bit of activity, I kind of expected the property market would have gone way down during the event but I haven’t seen really much downturn at all.
● Borrowers really need to be in really stable employment and have secure positions to be able to take out a mortgage and I think that’s probably Responsible Lending Anyway, you really don’t want to be taking out a new loan that’s going to end up in hardship down the track. So you definitely need to be in stable employment
● Yeah. So luckily, the ABA have announced that anyone that did make hardship arrangements before they got behind, it won’t be listed on your credit rating. And we do believe it won’t impact your ability to borrow down the track. So you did the right thing. It’s definitely good to get in touch beforehand.