In the face of sky-high prices, some are still hoping to borrow as much as possible.Mortgage broker Chris Foster-Ramsay said borrowing to the maximum was still common, although pro-risk customers are more likely to be stretching themselves than risk-averse ones.
“We are still seeing buyers, particularly home buyers as distinct from investors, looking to get an appetite to borrow the maximum amount they are able to, to give them that ability to get into the market,” he said. Axton Finance principal mortgage broker Clinton Waters is seeing second- and third-home buyers become more conservative about not taking on too much debt before rates go up.
“What these younger borrowers don’t always think about is what a single-income household looks like.”
Source: Loan Digest (loandigest.net)
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