While Interest Rates Drop, Demand for Renovations increase
Monday 11 May 2020, 6:33PM
By Vicky D
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We're noticing in recent weeks, there's been an increase in enquiries and questions about financing renovations via home loan, which doesn't come as a surprise banks continue to reduce the interest rates on home loans. This essentially gives our clients the ability to fund their renovations at low cost, by lending against their property - or by restructuring their existing home loan.
This not only impacted person homeowners, but also investment property owners - because this will give them a huge opportunity to make "value-added" upgrades and renovations to their properties positioning it for sale, or increase value by increasing rent. With the current market at the moment being quite flat and unpredictable, this is an excellent alternative to maximise profit on a property at a low cost.
We sat down with Linda Eagleton from Loan Market to discuss more and to dive deeper into how it all works, so we can better serve our clients. We're put together a blog on our website as a follow up to our conversation, check it out here: