The Roundup

Good Morning and Happy Monday,

I hope that you all had a great weekend and enjoyed some sunshine in groups of 10 or less 😉

It would seem that as the government starts to relax our quarantine, the banks might not have got that memo.

St George released through the week changes to their lending policy. With a hard line blanket approach.

Self employed borrowers are now limited to 80% Loan to Value Ratio, unless they fall under the medico policy with a maximum of 85% LVR.

They also announced changes to other parts of income policy stating that if bonus’, commission, dividends or allowances were being used they will be given a 40% haircut.

ANZ’s viziers have weighed into the housing market, stating that they believe that the downturn in the market could stretch into to 2021.

I imagine that the next few months will be watched very carefully by the banks, with policy being a moving target over the next several months.

No major changes to rates this last week, as we march closer to the middle of the year and out of isolation.

We can only hope that the economy as whole picks up as our kids return to school (YAY!) and we start to see some normalcy return to our daily lives.

I hope you all have a cracking week out there. I came across this little clip from YouTube where a Dutch design firm called Studio Drift who used drones created this amazing beating heart as a tribute to health care workers. Beating Heart…

I am always here if you need anything.

JC

Scenarios and interest rates quoted above are suggestions and constitute general advice only.

Justin