News Archives | AXTON Finance

What buyers need to know about Victoria’s housing shortage

Posted on 13/06/202513/06/2025 by Hunter Scribe

Victoria’s housing market has been under intense pressure in recent years, with supply struggling to keep pace with demand.

In 2023, the state government pledged to facilitate the building of 800,000 new homes by 2034, a target that requires at least 80,000 new homes to be completed each year.

However, the state fell short in 2024. Australian Bureau of Statistics (ABS) data shows only 60,220 dwellings were completed in 2024. While that’s an improvement on 2023’s 56,435, it’s still 20,000 homes short of the annual goal.

At the same time, Victoria’s population grew by more than 146,000 people in the 12 months to September 2024. This increase of 2.1% annually was the second-fastest growth rate in the country, according to the ABS.

More people means more pressure on housing – making the supply gap even more urgent.

How the shortage happened

Several key factors explain this shortfall:

1. Labour and skills shortage

One of the biggest constraints is a chronic shortage of skilled tradespeople and construction workers. In October 2024, the Housing Industry Association (HIA) estimated the country would need an additional 83,000 tradies to reach national housing targets.

Both the HIA and Master Builders Association report losing residential construction workers to other sectors, particularly government infrastructure projects. Meanwhile, the pipeline of apprentices and skilled labour isn’t being replenished fast enough.

Without enough workers, construction slows, pushing back completion timelines and limiting the number of homes delivered to market.

2. Supply chain disruptions and rising costs

Global instability and supply chain challenges over recent years have increased the cost of building materials and delayed their delivery.

According to Ray White, construction costs have started to moderate. In March 2025, Victoria was the only state to record a decline in construction costs, when prices dropped 1.9% annually. This marks a clear shift from the cycle’s peak in mid-2022, when prices were growing 25% or more annually.

However, moderating costs don’t mean affordability has returned. New homes remain expensive to build – and to buy.

3. Tax and regulatory burdens

Victoria’s relatively high property taxes, including recent land tax hikes on investment properties, have discouraged investors, reducing their willingness to invest in new developments.

Developers and industry groups have called for tax relief or reform, arguing that without it, many projects risk delay or cancellation.

4. Slowdown in project commencements

There’s now a widening gap between the number of dwellings approved and those actually under construction. As the graph below shows, ABS recorded 55,888 dwelling approvals in Victoria in 2024, but only 33,848 construction starts.

This gap may be due to financing difficulties, labour shortages, and cautious market sentiment amid affordability concerns – or all of the above. Whatever the cause, the result is a growing backlog of unmet housing demand.

What the shortage means for the property market

1. Continued upward pressure on prices

Despite a slowdown over the last few years, Melbourne’s property prices have turned around, increasing 1.2% since the beginning of the year, according to Cotality.

With housing supply already falling short, long-term demand is only expected to grow. Victoria’s population is projected to reach 10.3 million by 2051, according to the latest Victoria in Future projections. Annual growth is expected to average 9.7% by 2026 and 8% by 2036.

This sustained population growth, without a corresponding increase in housing, is likely to keep prices rising in the years ahead.

2. Rising rents and rental scarcity

Victoria’s rental market is tight, partly due to investors retreating amid tax hikes and in response to increased costs.

The number of rental bonds lodged in Victoria dropped by more than 20,000 in 2024, according to PIPA, following the increased land tax bills. This has reduced the overall rental stock and increased pressure on tenants.

Melbourne’s rental vacancy rate dropped to 1.8% in April, according to SQM Research and has hovered below 2% since early 2022. Asking rents have risen accordingly – up 2.0% in the 12 months to June – as competition for limited rental properties remains fierce.

Government’s response

The Victorian government has taken steps to try and boost housing supply and ease affordability pressures. The 2025-26 state budget included several initiatives:

Extension of off-the-plan stamp duty concessions: Buyers of apartments, units and townhouses on strata titles will keep benefiting from reduced stamp duty on the land component until October 2026.
Investment in infrastructure and housing: The budget committed $24 million to develop up to 300,000 new homes near tram and train hubs, and $12 million for planning 13,200 new homes with backyards in Melbourne’s outer suburbs.

Despite these measures, experts said the budget does not do enough to support homebuyers.

The HIA argued that more significant action, like planning reform that streamlines approvals, would do more to add to the state’s housing shortage.

Looking ahead

Victoria’s housing shortage is unlikely to ease without addressing the root causes: labour shortages, high construction costs, supply chain issues and taxation pressures.

That said, ongoing stamp duty concessions and targeted infrastructure investment may present new opportunities for buyers and investors – particularly in emerging development corridors.

With the state’s population set to continue growing, private investment will be crucial to easing the pressure on both the housing and rental markets.

For buyers and investors, working with an experienced mortgage broker can give you a strategic edge. A broker can help you find the right loan, maximise your borrowing power and navigate the finance process, so you can act with confidence in a competitive environment.

Thinking about buying your next home or investment property? Reach out to Axton Finance, a skilled mortgage broker in Melbourne, for expert advice and personalised loan options that put you ahead in Melbourne’s competitive market. Email us at [email protected] or click here to get in touch.

Victoria Property Investing: Affordable, Underrated and Still Full of Potential

Posted on 09/05/202522/05/2025 by Clinton Waters

If you’ve been following the national property conversation lately, you’ll know Victoria has taken a few punches in the media. From new taxes to doubts around investment returns, some buyers are wondering whether it’s still a smart place to invest.

But when you strip away the headlines and look at the numbers, Victoria’s value proposition becomes clearer and in some cases, stronger than other states.

Land Tax: Not Always What It Seems

Let’s take land tax, one of the most debated issues for property investors in Victoria.

For example, on a land value of $1,000,000:

Victoria: land tax approx. $4,770 per annum

Queensland: land tax approx. $4,700 per annum

It’s the same, right?

But here’s the kicker – once the land value increases beyond here, Queensland’s land tax grows faster.

Let’s say the land value is $1.8 million:

Queensland: $17,700 per annum

Victoria: only $11,850 per annum

So while Queensland is often seen as the “investor-friendly” state, Victoria may actually be more cost-effective once you go over the $1M threshold and at a cheaper entry point also! Would you believe that Melbourne’s median dwelling value ($776k November 2024) is ranked sixth lowest among the eight capital cities in CoreLogic’s Home Value Index (HVI) report published November 2024.

How Other States Compare

NSW: Higher tax-free threshold ($1,075,000), but house prices are significantly higher, pushing you easily into higher brackets.

Tasmania: Flat 1.5% over $25,000 – resulting in ~$15,000 land tax each year on a $1.0m property!

WA & SA: Mid-range land tax, but with less capital growth opportunity given the strong bull run of the last few years.

NT: No land tax at all but limited investment-grade property and demand.

ACT: Land tax based comparable but based on a more complicated formula

What You Get for Your Money in Victoria

Melbourne and major regional Victorian cities offer more value per square metre than most other capital cities in Australia.

For example:

A $900k budget in Melbourne could buy a modest renovated home within 20-25kms of the CBD, in a well-established suburb with great amenity and infrastructure. In Sydney, that might only get you a pokey unit or if you are lucky a townhouse much further from the city.

Plus, Victoria offers:

World-class schools, universities and infrastructure
Rich cultural and lifestyle diversity
A long-term track record of capital growth

Source Corelogic https://www.corelogic.com.au

A Word on Sentiment

Yes, the mainstream media has been pretty harsh on Victoria in recent years. But sentiment is just that – sentiment.

Melbourne remains one of the world’s most liveable cities, with comparative affordability to the rest of the country, strong population inflows, and continues to see low rental vacancy rates and high competition for quality homes.

Victoria – Still the Place to Be

As the old number plates once said, “Victoria – The Place to Be.” Based on the number of interstate inquiries we have been fielding in recent months, we still believe this is the case.

So while taxes matter, when you run the numbers and compare them to other states, Victoria stacks up surprisingly well – especially for investors with landholdings close to or over $1M in other states.

Ready to Invest Smarter in Victoria?

At AXTON Finance, we help smart investors structure their investment property loans for long-term success. Our experienced team of eight licensed mortgage brokers have extensive experience in investment lending mortgage solutions – we’ve got your back.

Chat with us today obligation free on 03 9939 7576 or message us here.

Should I Buy an Investment Property in Melbourne in 2025

Posted on 09/05/202522/05/2025 by Clinton Waters

Despite some recent fluctuations, Melbourne’s property market presents compelling opportunities for investors in 2025. While some forecasts suggest moderate growth (3% to 5% per annum), others are more optimistic, especially when comparing against interstate options that now appear much less appealing. Looking past short-term movements that have taken place over the last couple of years in Melbourne, the fundamentals remain strong. Melbourne’s median dwelling value is ranked sixth lowest among the eight Australian capital cities in CoreLogic’s Home Value Index (HVI) report published November 2024.

Why Consider Buying an Investment Property in Melbourne?

1. Affordability

Compared to Sydney, Brisbane and Perth, Melbourne offers more accessible entry points for investors, particularly in middle-ring and emerging growth suburbs.

2. Population Growth

Strong interstate and international migration continues to drive demand across Melbourne’s rental and property market.

3. Rental Demand

Vacancy rates are at historic lows, creating strong competition among renters and consistent rental yields for landlords.

4. Infrastructure Pipeline

Ongoing projects like the Westgate Tunnel Project, Metro Tunnel Project, Suburban Rail Loop and Melbourne Airport Rail Link will improve connectivity and boost property demand in new zones.

5. Diverse Housing Options

From period homes to modern apartments, Melbourne offers a wide range of opportunities for different strategies – whether you’re buying for capital growth, rental yield, or redevelopment.

Source Corelogic https://www.corelogic.com.au

Key Takeaway: Melbourne Delivers Value

Melbourne continues to offer value on a national scale, especially when factoring in land tax differences, as explored in our Victorian Land Tax Comparison Blog.

Compared to the high purchase prices and sharper land tax curves in Sydney and Brisbane, Melbourne remains one of the most attractive options for property investors in 2025.

Want Tailored Mortgage Advice for Your Next Investment?

Speak with the experienced mortgage brokers at AXTON Finance to structure your investment loan, maximise tax deductions, and grow your portfolio with confidence.

Call us now on 03 9939 7576 or leave a message to discuss a tailored investment lending solution for you.

Merging Expertise: Welcoming Aviser Finance to the AXTON Family

Posted on 28/10/202408/11/2024 by Rix Almonicar

We’re thrilled to announce an exciting new chapter for AXTON Finance: the official merging of Aviser Finance into the AXTON family! This partnership brings together the expertise and dedication of both companies to create an even stronger, more personalized mortgage broking service.

After many years of working alongside one another and maintaining a close industry relationship, it was the perfect time to take this next step. We are excited about this merger, which reflects our shared values and commitment to putting client goals at the forefront of everything we do.

Aviser Finance, led by Martin Ryan, has long been recognised for its high standards of professional mortgage advice, personalised service, and deep care for their clients. We are delighted that Martin, along with Tonina, Joyce, and Anne, have all joined the AXTON Finance team. Together, we are ready to grow stronger and continue offering the same exceptional service that Aviser clients have come to expect over the years.

For Aviser clients, while the company name may be different, the exceptional team you know and trust remains the same. Martin and his dedicated team will continue providing the mortgage solutions and guidance you rely on, now under the AXTON Finance banner. Our combined experience and enhanced capabilities will serve to bring even greater value to your mortgage journey.

This merger is not just about joining forces; it’s about growth, shared purpose, and building a future that benefits our clients. By integrating Aviser Finance into AXTON Finance, we can draw upon a broader network of expertise, enhance our service offerings, and ensure our clients benefit from a supportive and knowledgeable team that puts their needs first.

We are excited to welcome the Aviser Finance clients and team members into our AXTON Finance family. With our shared vision of excellence and customer-first service, we look forward to building a prosperous relationship and continued success together.

If you’re an Aviser client or want to learn more about the benefits of working with AXTON Finance, don’t hesitate to get in touch. We’re here to provide the same level of care, dedication, and tailored solutions that have always been our hallmark.

AXTON Finance Expands with Strategic Client Book Acquisition

Posted on 11/08/202411/08/2024 by Clinton Waters

At AXTON Finance, we are thrilled to share some significant and exciting news with our valued clients and partners. In a move that further strengthens our commitment to delivering exceptional mortgage broking services, we have recently acquired the client book of industry veteran Chris Angus from Badu Capital. This acquisition marks a major milestone in our journey and underscores our dedication to providing the highest quality of service to our growing client base.

Chris Angus, a well-respected figure in the mortgage industry, has transitioned to an executive role within one of Australia’s largest mortgage broking groups. As part of this transition, Chris made the carefully considered decision to transfer his client book to AXTON Finance. The key criterion for this transition was to ensure that the values and quality of service that clients have come to expect from Chris and Badu Capital would not only be maintained but elevated.

We are honored to be entrusted with this responsibility and are fully committed to ensuring a seamless transition for all clients involved. At AXTON Finance, our team is led by Clinton Waters, an industry veteran with over 20 years of experience. Clinton’s leadership is complemented by a team of seven highly experienced mortgage brokers, each of whom brings a wealth of knowledge and expertise to the table. Together, we have earned over 300 five-star Google reviews, a testament to our unwavering commitment to client satisfaction.

Our team is renowned for its streamlined systems and client-focused approach. We pride ourselves on our ability to help clients optimize their mortgage lending structures and navigate the complexities of credit advice with confidence. With this acquisition, we are excited to extend these benefits to our new clients, ensuring that they continue to receive the exceptional service they deserve.

It’s important to note that while Chris Angus has taken on a new role, Badu Capital remains actively trading in Brisbane under the leadership of Mick Angus and we are proud to carry forward the legacy of excellence that Chris established with his predominately Melbourne based clients.

We understand that change can bring questions, and our team is here to support you every step of the way. Whether you are a new client joining us through this acquisition or a long-standing member of the AXTON Finance family, we are always available to address any questions or concerns you may have.

If you would like to discuss your current mortgage scenario or explore new opportunities with a member of the AXTON Finance team, we invite you to book an obligation-free consultation with us. We are here to help you achieve your financial goals and look forward to continuing to serve you with the excellence that defines AXTON Finance.

We are excited about this new chapter and are committed to making this transition as smooth and beneficial as possible for all our clients.

Listen To Clinton’s Interview With The Real Estate Podcast

Posted on 06/03/202407/03/2024 by Clinton Waters

Household Income Homebuyers Surged to $220,000 – Clinton’s interview on Home Affordability!

Listen to episode #928 of @therealestatepodcast where Clint is interviewed by the shows host Craig. In this short 15 minute podcast Clint provides his expert insights on home affordability, interest rate forecasts, the surge in household homebuyer incomes, and the dynamics of sharing property ownership.

Should You Be Loyal To Your Bank?

Posted on 21/12/202321/12/2023 by Clinton Waters

When it comes to your money, especially a significant commitment like a mortgage, loyalty to your bank might seem like a good idea. Many homeowners tend to stick with their original lender out of familiarity, a sense of loyalty or sometimes because they think it’s too hard to change. However, the mortgage landscape is constantly evolving, regardless if interest rates are increasing, decreasing or going sideways and sticking with your bank probably isn’t always in your best interest – not that they will tell you this…

Is maintaining allegiance to your bank when you have a mortgage crucial? Or does prudently exploring better deals that align with your interests make more financial sense?

The myth of loyalty

The notion of loyalty to your bank is deeply ingrained in many individuals. Often, people associate familiarity and a long-standing relationship with their bank as a form of security. However, while loyalty may have its merits in certain aspects of life, it might not always pay dividends in the realm of your home loan and your hard-earned dollars.

New to bank = a better deal

You would think that being loyal means you should get a better rate or a discount like you do with your insurance company, but this is often not the case. While you might get a slight improvement by haggling with your old bank the overall system is hugely hungry for ‘book growth’, meaning banks and lenders will usually trip over themselves to get new customers in the door and rely on their ‘loyal’ customers to stay put at higher rates – it’s just the way the system often works. Even when you get your current bank to tweak your rate, there will come the point when the ‘computer says no’ because the return on their loan isn’t worth it anymore for a host of technical reasons – you might think you got a better deal, but did you?

You don’t know what you don’t know

Mortgage rates fluctuate regularly. What might have been a competitive rate when you initially secured your mortgage a few years back could now pale in comparison to newer, more favourable deals available in the market. By limiting yourself to one lender, you could potentially miss out on a better interest rate or more favourable terms offered by other banks and lenders.

Why reviewing your mortgage regularly is crucial

One of the keys to ensuring you’re not missing out on a better deal is to review your mortgage at least every one to two years. This proactive approach allows you to assess if your current loan still aligns with your financial goals and if there are better options available. You are probably unsurprised that banks don’t prioritise this process, and they are not obliged to always act in your best interest – licensed mortgage brokers are, however! This means you may be unaware of a better rate available from your current lender or someone else in the market.

This is where the expert mortgage brokers at AXTON Finance can help save you a lot of time and money. AXTON Finance is committed to empowering homeowners by regularly reviewing their loans with automated repricing tools that needle your bank or lender to ensure you get the best rate for your scenario. After all, if we are not doing this on your behalf, we are certain you will and that you may leave us! One of our primary goals is to create a long-term relationship with you as your trusted mortgage broker. We do not treat you as a once-off transaction!

Our efficient digital systems ensure that your mortgage is reviewed at least annually, ensuring that you are getting the best possible rate and terms that suit your needs.

Why AXTON Finance are Melbourne’s leading Mortgage Brokers

Unlike dealing directly with banks and online lenders, AXTON Finance is dedicated to working in your best interest. Our team of experienced mortgage brokers navigates the complex mortgage market on your behalf, identifying tailored structures and negotiating to secure lower interest rates and favourable terms.

We provide you with personalised attention, ensuring that your financial goals are understood and catered to effectively.

We build relationships – not transactions

While bank loyalty may have been a thing when 20th-century bank managers had authority, it’s now essential to recognise that in modern home and investment loans, blind loyalty to your bank might only sometimes serve your best interests. Regularly reviewing your mortgage and exploring better deals is indeed a smart financial move but getting experienced advice from the leading mortgage brokers at AXTON Finance will help ensure your best interests and not the banks are being served!

We know that your mortgage is not just a set-and-forget transaction but an evolving instrument that adapts to your changing financial needs. Don’t wait for your bank to offer you the best deal; take control of your financial future today. Contact AXTON Finance, Melbourne’s trusted mortgage brokers, and experience our personalised service, efficient systems, and dedicated team, who can help you secure a better mortgage approval.

The Meaning Behind Axton Finance

Posted on 01/11/202322/04/2024 by Clinton Waters

A Strong Foundation for Your Mortgage Needs

At Axton Finance, we take pride in being your preferred mortgage broking professional. With over two decades of experience and more than 250 Google five-star reviews, we’ve built our reputation as one of the best mortgage brokers in Melbourne, based on a foundation of trust, expertise, and tailored solutions.

The Cornerstone of Your Financial Journey

The word “Axton” holds a special meaning for us.

When Clinton Waters established Axton Finance in 2014, his research in determining our name unearthed the significance of “Axton” as an old English word meaning the cornerstone of a building.

Just as a cornerstone is a crucial element in constructing any building, providing the stability and support that anchors the entire structure, we see ourselves as the cornerstone of your financial journey for your property purchasing and refinancing needs.

A Name Rooted in Strength and Protection

Another intriguing aspect of our name, Axton, lies in another possible old English origin. It’s also been defined as the combination of two Old English words: “eax,” meaning “axe” or “sword,” and “tun,” meaning “stone” or “settlement.” This combination gives “Axton” a profound and meaningful interpretation.

“Axton” can be seen as “sword stone” or “settlement with swords.” This name carries connotations of agility and resilience. Just as a well-forged sword offers protection and security, we, at Axton Finance, are dedicated to providing you with reliable and tailored mortgage advice that serves as the leading edge of your financial journey.

In the same way a sword is honed and sharpened to perfection, we carefully craft and fine-tune mortgage advice that suits your individual needs and circumstances. We understand that every client is different, and we are here to ensure that your mortgage options are presented to you that promotes your needs and not the banks!

Axton Finance isn’t just a name; it’s a reflection of our commitment to providing you with a solid foundation for your property dreams and offering you the reliable and trusted advice that you deserve.

Get in contact with us today on 1300 706 540 or click our contact form to discuss your needs with us.

COVID19 – Advice and guidance for finance hardship applications

Posted on 06/04/202022/04/2024 by Clinton Waters

Over the past 2 weeks we have fielded numerous enquiries from our clients with questions and concerns about how to approach lenders for hardship support relating to COVID19 and the impact this may have on their mortgages, rates, credit histories etc.

To ensure our clients get the most accurate advice, AXTON Finance have been in regular contact with the banks and lending institutions we work with and with whom all of our clients have mortgages.

In our earlier communications we noted that a hardship repayment holiday is not ‘interest free’ and that such a holiday may extend the term of the loan or the interest you pay over the life of the loan. As such, it is important to understand what this means for your long term, and that if you have some capacity to make repayments towards your loans, then it may serve you well to do so.

The encouraging fact to note is that all lenders have in place support for borrowers to receive repayment assistance.

The most important action anyone can take under these trying circumstances is to proactively communicate with your lender, and to do so before any repayments are delayed or missed.

Banks and lenders approach and support to hardship is evolving, and as we write this, most lenders are treating the conversion of a principle loan repayment to interest only as ‘credit critical’ (this means such a change to your loan contract will only be permitted through a full assessment via a loan application). There is some political push from the government towards the banks and lenders to simplify this process, however as it stands a full assessment is usually required.

What is useful to understand, however, is that in applying for and obtaining hardship assistance means whilst it is not necessary for you to make a repayment during the hardship period, you may be permitted to.

The upside here is that in remaining under a P&I agreement, you will be incurring interest at a lower rate (Interest only terms tend to be priced higher for risk). So you may effectively be getting interest only terms at a lower rate without actually needing to go through a full loan assessment (providing you meet the hardship criteria).

There is some inconsistency between lenders as to how they treat the repayment. Some lenders advise these payments will be available for the borrowers during and after the hardship period if they needed to redraw. Others have advised these are not. So it is very important to ask your lender what availability you will have to cash paid into your loan during or after a hardship period. They may even take the view that if you can make a repayment, you may not qualify for hardship…

New loan application, current applications…

Most lenders are quickly updating credit policies to accommodate risk associated with COVID19 and request additional information and explanation around job type/industry to identify is this may impact ability to repay in the near future. Some lenders are asking applicants to provide disclosures and confirmstaions along the following lines:

The COVID-19 crisis is causing significant social and economic disruption. Applicant(s) to advise how they foresee this affecting their current financial position (including income) and how they will financially navigate that affect. This approval is subject to the Lender understanding and acceptance of this affect.

To Summarise:

Be proactive with your communication, ask for assistance before you miss a repayment;
Understand the impact and accessibility to any payment made during a repayment holiday;
If there was no loan conduct issues prior to COVID19, any hardship or repayment holidays granted as a result of COVID19 impacts will not effect your credit history;

Impact on Credit History

Borrowers who are granted a six-month deferral on loan repayments will not have their credit rating affected as a result of the holiday, so long as they were up to date with repayments prior to the economic impact of COVID-19.

“If a customer is granted a deferral on their mortgage and other credit products because of COVID-19, banks will report customers as not having missed a repayment, provided they were all up to date when granted relief,” explained ABA CEO Anna Bligh.

As always should you have any questions we are here to help – while we may be working remotely during this time please call the office on 1300 706 540 and one of our team will be able to help you.

Take care out there!

James Hardiman I General Manager

AXTON Finance

Photo by Branimir Balogović on Unsplash

COVID19 – AXTON Support Page

Posted on 23/03/202022/04/2024 by Clinton Waters

Firstly our small team at AXTON Finance hope that you, your friends and your family are looking after yourselves during this time. Please listen to government advice on how you can play your part to keep yourself and others safe during this pandemic.

Australian banks and lenders pitch in

On Friday 20th March The Australian Banking Association (The ABA) announced a unified response to assist Australians during this crises.

Below is a summary of COVID19 links available from each lender in the Australian market place.

This page is being updated as more information comes to hand.

Key points to consider – our brief summary

– The term ‘repayment holiday’ SHOULD NOT be interpreted as interest being waived. It is only repayments (interest) being deferred. You still have to pay the capitalised interest added to the loan balance in the future.

– Qualification requirements are likely to apply (eg unemployment, significantly reduced hours, at risk industry etc)

– Our opinion is that the deferred repayment should be used where genuine hardship is being experienced or is expected. In the long term adding (capitalising) interest for six months or more can add a significant amount of interest to your total loan cost.

– Most lenders are offering up to six months relief in repayments. Some are offering up to three months with a checkin at that point for a further three months.

– Credit reporting agencies and lenders have already outlined that the hardship arrangements are typically not reported as defaults, and therefore do not impact a borrower’s credit score, with APRA also stating on Monday 23rd March 2020 that banks need not treat repayment holidays as arrears.

– The very cheap fixed options we are starting to see should be considered carefully. Often you cannot make extra repayment on a fixed rate, there is often no redraw and expensive break costs can also apply should you pay the loan out early.

– It may be economical to consider refinancing to a new lender to take advantage of cheaper rates, a new interest only term or one of the current cash back rebates available before you simply defer your repayments.

Speak to your AXTON broker if you would like a mortgage review (click here for a free review) or to discuss any of the points above.