Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Demand for no-deposit loans reaffirmed

Staff Reporter 3 minute read

Mortgage products requiring little or no deposit look set to thrive because of Australian’s inability to save.

According to business information company Datamonitor, a large number of respondents in a survey of 2,000 Australians said that they had saved little or no deposit for a home loan.

Only 34 per cent of the respondents surveyed that had a mortgage saved a deposit of 20 per cent or more. 

Moreover, 15 per cent of mortgagors had no deposit at all and a further eight per cent had a deposit of only five per cent or less.

Advertisement
Advertisement

The survey also found that 55 per cent of those without a mortgage did not expect to ever be able to purchase a home.

According to Datamonitor the main reasons for this was not being able to afford repayments, as well as high rental costs that make it difficult for many to save a deposit.

Published: 19-02-08

Demand for no-deposit loans reaffirmed
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
Michael Russell MoneyQuest Brokerage head calls out ‘unacceptable’ turnaround delays

It is “unacceptable” that turnaround times in branches can be...

gentlmen handshake Ex-Time Home Loans director partners with AFG

The aggregator has partnered with former Time Home Loans director...

farmer ta 34% of farmers eyeing raised business investment

Roughly one-third of Australian farmers expect to increase their ...