Aussie Home Loans: Available Options for 2020 | Intellichoice Finance

Aussie Home Loans: Available Options for 2020 | Intellichoice Finance

What lies ahead of the Aussie Home Loans market in 2020? It is a good opportunity to re evalute investing in a property or would it be the perfect time to finally stop renting and secure your own home for the first time? As values of home loan lending increased during the last quarter of 2020 in a countercyclical position to covid 19, what are the available options and the aspects we can look forward to in the coming New Year in the real estate and home buying sector?

Home Loans Performance in 2020

An increase in the value of owner-occupier financing increased by 4.5%, equivalent for $13.89 billion. Such an increase is recorded as the highest since February 2016 according to historical data. Refinance for owner-occupied homes also increased, for the first time by 0.8%, equivalent to $6.26 billion after 3 consecutive months of being on the negative. Still, in the owner-occupier sector under loans for investors, an increase in September 2018 was also observed adding a 0.6% lift or $9.884 billion.

READ MORE: Buying Property For Investment In This Volatile Economic Condition

However, despite all these increased, the housing finance sector has been falling for a year by 8.6%. Together with home loan refinancing, a 6% decrease with owner-occupier finance falling by 3.2%

Covid19 has seen many decide that being trapped in a unit for months on end-is not ideal, and having a yard seems like a much better option.

Home Loan Options for 2021

The New Year is one of the common seasons where new beginnings commence. Building a home or moving into a new one would be a great way to start 2021. Getting a mortgage at the start of the year would be your ticket to a new home this coming new year, as many Governembnt grants are now supporting renovation or new construction.

Expat Home Loans in 2020

Property prices for homes in Australia trended downwards at the end of 2019. Cautious investors, a tightening in the lending practices by banks and a new set of housing supply are just some of the factors that contributed to the downward turn. However, with the real estate market intially suffering due to covid, we might see a fairly increase both in local and international home purchases in the land down under.

A strong but staid population growth, high unemployment rates but supported with job keeper, increase in first-home buyer activity and a stagnation improvement in wage growth, predictions of a healthier and busy real estate market are common among investors and real estate enthusiasts.
House prices are predicted to increase roughly from 3-5% in cities like Perth, Canberra, and Brisbane. Adelaide and Hobart properties may increase in value by 2% while those in Melbourne might stay within the average value they had in 2019. And areas of Melbourne have shown 11% growth in September 2020 This would be a good basis for choosing the location of the property you want to purchase or invest in the coming new year.

Expat home loans can be quite difficult when you cannot attend to your documentation needs while working or living abroad. Consulting with a mortgage specialist would be ideal to make the process easier. With a slowdown in the home construction in Australia being observed this coming year, it would be ideal to invest in a home right now before home prices begin to increase in value.

READ MORE: Renting Vs. Buying A House This Time of Pandemic: Intellichoice Finance [Part 1 of 2]

Mortgage Applications in 2020

In 2020, interest only home loan applications made a few years ago are about to reach its end. With these in mind, it will be more expensive to repay a mortgage. The jump in repayments could add around $400 every month to repay their mortgages.
Is this a similar scenario you’re about to face the moment you decide to apply for a mortgage and get approved for an interest-only repayment period? That is not always the case. Talking with a loan specialist gives you options. Most of the time, they can provide you with options you never knew exist. It would be ideal to get help from these experienced professionals to be able to secure a loan and to repay it without hurting your budget in the future.

Intellichoice does not only provide an immediate solution to your need. We aim to provide a long-term opportunity to have your own home, without the risks of you losing it, or having to give up on other areas or aspects of your finances. Talk to an Intellichoice mortgage broker today and make your dream of moving into a new home in 2021 a reality.

Learn more about Expat Foreign Owner Loans from our website -


Darin Hindmarsh is the founder and CEO of Intellichoice Finance, a broking firm based in Brisbane. He's been providing financial and broking services in the past 18 years. Hindmarsh is also finalist in the 2020 Australian Mortgage Awards - Pepper Money Broker of the Year – Specialist Lending. To jumpstart your home loan application, visit their home loan online application page today.!