Mortgage News

SMH has reported this morning over the increasing amount of time it is taking First Home Owners to save for their property deposit. Figures show that increasing property prices and the reduction in the Governments assistance packages has extended the time by another 12 months. It makes the average person a savings time of about 6.2 years and requires $85,800.

Simon Reibelt from Oasis Home Loans Northern Beaches said that the trend for younger people was also now to save up to enjoy travel and commitment for future asset purchase was less of a concern than in previous decades.