{"id":31402,"date":"2021-06-05T09:00:06","date_gmt":"2021-06-04T23:00:06","guid":{"rendered":"https:\/\/channels.realty.com.au\/realestatetalk\/?p=31402"},"modified":"2021-06-04T16:45:05","modified_gmt":"2021-06-04T06:45:05","slug":"beware-of-the-banks-golden-handcuffs-who-needs-to-be-impressed","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/beware-of-the-banks-golden-handcuffs-who-needs-to-be-impressed\/","title":{"rendered":"Beware of the banks &#8216;golden handcuffs&#8217; + Who needs to be impressed."},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-weight: 400\">When auction clearance rates consistently remain near 80% it means there are more buyers than sellers in the market and this eventually leads to higher property prices, and that\u2019s clearly what\u2019s happening.\u00a0 With an excess of 2,000 properties being auctioned every week and given the strong ongoing interest in auctions, it&#8217;s worth revisiting key aspects of auctions for buyers.\u00a0 <\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Bushy Martin does that today with buyer\u2019s agent and builder broker, Rob Newman of Blackfords Urban Habitats.\u00a0 Did you know that over 60% of all new home loans in Australia are now facilitated by mortgage brokers?\u00a0 The growth is so strong that ASIC has moved to put in place a process called Best Interests Duty as a guide for brokers and protection for consumers.\u00a0 So, what if anything has changed since it came into force on January 1 this year?\u00a0 You will find out today.\u00a0 <\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">And on that subject \u2013 financing, brokers, and banks \u2013 in Bushy\u2019s last word he talks about a worrying trend that has emerged where the banks are contacting borrowers introduced by a broker and offering enticing locked-in 4-to-5-year fixed-rate loans.\u00a0 Bushy calls them golden handcuffs and for good reason.\u00a0 He will explain.\u00a0 <\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">But first up today, we are delighted to welcome back to the show Bryce Holdaway.\u00a0 Bryce is well known for his TV appearances in Location, Location, Location Australia, Escape to the Country and Relocation, Relocation Australia, and co-host of The Property Couch with Ben Kingsley.\u00a0 Bryce has some thoughts about who on your panel of property experts you should be most concerned about impressing. You might be surprised.\u00a0 Let&#8217;s get into it!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When auction clearance rates consistently remain near 80% it means there are more buyers than sellers in the market and this eventually leads to higher property prices, and that\u2019s clearly what\u2019s happening.\u00a0 With an excess of 2,000 properties being auctioned every week and given the&#8230;<\/p>\n","protected":false},"author":176692473,"featured_media":31405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,34,10,11,13,36,142,22,24,25,27,29],"tags":[],"class_list":["post-31402","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-buying-a-property-topic","category-finance-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-real-estate-talk","category-research-topic","category-shows","category-sponsored-channels","category-trends-topic","category-video","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Beware of the banks &#039;golden handcuffs&#039; 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