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- Rebuilding savings buffers<\/strong>. A small monthly lift can add up fast.<\/li>\n
- Putting extra into their loan.<\/strong> Helpful while rates settle into a new range.<\/li>\n
- Reviewing their loan.<\/strong> There are big differences between some lenders.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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Why this matters<\/strong><\/p>\n
Even though rates have fallen, you might still be on a loan priced for old conditions. Lenders are shifting sharply right now, and the \u2018lazy tax\u2019 can creep in if you stay put without checking.<\/p>\n
A quick check can show where you stand<\/strong><\/p>\n
If you want to see whether your rate is still competitive, we can review it quickly and show you what your savings might look like if you stayed, renegotiated or switched.<\/p>\n
\nRefinancing Surges as Borrowers Chase Better Deals\u00a0<\/strong><\/span><\/h3>\n
A record number of Australians are switching lenders \u2013 and for good reason.<\/p>\n
ABS data shows external refinances in the September quarter climbed 25.2% on last year and hit an all-time high. This isn\u2019t happening because borrowers are restless \u2013 it\u2019s happening because the savings are too big to ignore.<\/p>\n
Lenders have been adjusting pricing unevenly after recent rate cuts. Some have passed on reductions in full, while others have made smaller movements. That means two borrowers with the same loan size can now be paying vastly different amounts each month.<\/p>\n
What\u2019s driving borrowers to switch<\/strong><\/p>\n
Borrowers coming off older fixed rates or legacy variable rates are seeing meaningful savings. Even a reduction of 0.30 to 0.50 percentage points can free up thousands per year.<\/p>\n
Three tips before you consider refinancing<\/strong><\/p>\n
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- New-to-bank offers are often sharper than existing-customer rates.<\/li>\n
- Some lenders are repricing quickly, so some deals don\u2019t last long.<\/li>\n
- Make sure your loan matches your financial goals \u2013 it\u2019s not always about the lowest rate or fees.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n
If you\u2019re wondering how much you could save by switching, we can compare lenders for you, while ensuring your new loan is in line with your strategy and goals.<\/p>\n
\nBig Boost for First Home Buyers<\/span>\u00a0<\/strong><\/h3>\n
The 5% Deposit Scheme has quietly become one of the most powerful tools first home buyers have \u2013 and the latest expansion is a genuine game-changer.<\/p>\n
From 1 October, the scheme now offers unlimited places and no longer has income caps. Eligible buyers can purchase with just a 5% deposit and avoid the large cost of lenders\u2019 mortgage insurance (LMI), provided the property sits under your location\u2019s price cap (from $500,000 in regional South Australia up to $1.5 million in Sydney).<\/p>\n
The interesting shift isn\u2019t just the expanded access \u2013 it\u2019s how it\u2019s expected to reshape competition. Without income caps, higher-earning couples who were previously excluded can now enter popular markets, which may push more demand into price ranges just under the caps.<\/p>\n
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What this means in practice <\/strong><\/p>\n
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- More buyers competing for townhouses and units in suburbs close to cap thresholds.<\/li>\n
- Fast-moving markets, as buyers with small deposits can now act sooner.<\/li>\n
- Larger borrowing amounts, because deposits are smaller and LMI isn\u2019t required.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
Think before using the scheme<\/strong><\/p>\n
Even though the deposit hurdle is lower, your long-term repayment comfort still matters. A higher loan balance means repayments need to fit safely within your budget and buffers.<\/p>\n
If you want to check whether you’re eligible – or see what your repayments might look like under the scheme – we can run the numbers for you.<\/p>\n
\nMore Homes for Sale, but Prices Rising<\/strong><\/span><\/h3>\n
A surge in new listings would normally cool the market \u2013 but this time, buyers are snapping up good homes faster than they\u2019re appearing.<\/p>\n
Australia\u2019s median property price rose 1.1% in October \u2013 the strongest monthly gain since mid-2023 \u2013 and is now up 2.8% over the quarter. Every capital city recorded growth, with five hitting new highs, according to Cotality.<\/p>\n
At the same time, SQM Research reports a sharp lift in stock: total listings rose 10.9% in October and new listings jumped 18.2%. Normally, that much fresh supply slows price momentum. This time it hasn\u2019t.<\/p>\n
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What\u2019s really happening<\/strong><\/p>\n
Buyer demand is running ahead of supply, even with more homes coming to market. Rate cuts earlier this year have boosted confidence and borrowing power, so well- located homes are still seeing quickly.<\/p>\n
What smart buyers are doing right now<\/strong><\/p>\n
Instead of waiting for conditions to cool, buyers are:<\/p>\n
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- Getting pre-approval earlier so they can move fast when the right home appears.<\/li>\n
- Expanding their search radius into neighbouring suburbs.<\/li>\n
- Stress-testing their budget at higher rates to avoid overstretching.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
If you want to stay competitive while prices are climbing, we can help you understand your borrowing power and compare lenders before you start making offers.<\/p>\n
With costs easing and new buying options on the table, it\u2019s a great time to check your borrowing position before the holiday rush kicks in. If you want to explore what\u2019s possible, reach out and we\u2019ll look at it together.<\/p>\n
\nIf you are buying, re-financing or have any questions, contact Sal Cinque on the below information.<\/p>\n
![\"\"](\"https:\/\/www.tagfinancial.com.au\/blog\/wp-content\/uploads\/2021\/10\/Sal-C.jpg\")
TAG Finance and Loans<\/p>\nSal Cinque | CEO<\/p>\n
03 9886 0800 |\u00a0loans@tagfinancial.com.au<\/a><\/p>\n
![\"\"](\"https:\/\/www.tagfinancial.com.au\/blog\/wp-content\/uploads\/2023\/02\/finance-and-loans-contact-info-1-300x71.png\")
<\/a><\/figure>\nDisclaimer: The information contained on this page is general in nature. Professional advice should be sought before acting on any aspect on this page. TAG Finance and Loans Pty Ltd ABN 25 609 906 863 Credit Representative Number 483873 National Mortgage Brokers Pty Ltd ABN 88 093 874 376 Australian Credit License 391209.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
With interest costs easing, refinancing surging and new buyer schemes expanding, the lending landscape is shifting fast. This month\u2019s update breaks down what\u2019s changing, and what it could mean for your budget, borrowing power and next property move.<\/p>\n","protected":false},"author":1,"featured_media":10426,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-10411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-and-loans"],"_links":{"self":[{"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/posts\/10411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/comments?post=10411"}],"version-history":[{"count":9,"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/posts\/10411\/revisions"}],"predecessor-version":[{"id":10425,"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/posts\/10411\/revisions\/10425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/media\/10426"}],"wp:attachment":[{"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/media?parent=10411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/categories?post=10411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tagfinancial.com.au\/blog\/wp-json\/wp\/v2\/tags?post=10411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- \n
- \n
- Putting extra into their loan.<\/strong> Helpful while rates settle into a new range.<\/li>\n