Interest rates have dropped for the third time this year, but finance expert and Executive Chairman of Yellow Brick Road Mark Bouris has warned mortgage holders not to expect further relief in 2025.
“Don’t listen to what you hear in the press. To me the cash rate is settled at the moment. I just don’t see another cut happening,” he said. “This will be the last rate reduction we will see for 2025.”
Bouris is backing a new lending option aimed at helping Australians break into the property market despite persistent affordability challenges.
In partnership with non-bank lender Empower Money, Yellow Brick Road is offering up to 105 per cent finance for approved buyers of vetted new dwellings, eliminating the need for a deposit and covering associated risk fees.
“With every year that passes, there’s a new crop of borrowers potentially being locked out of the market,” Bouris said.
“We have moved to remove the deposit barrier, focus on new builds, and make the loan affordable. That’s how we tackle both cost of living and property supply shortages.”
The loans carry a 6.95 per cent interest rate, compared with typical 90 per cent LVR loans that require a 10 per cent deposit.
Source: Realestate.com.au.
