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Time to target FHBs: Bankwest

by Staff Reporter8 minute read
The Adviser

Jessica Darnbrough

FHB activity may have slumped recently, but that doesn’t mean brokers should stop targeting the sector, Bankwest’s retail head of specialist banking Ian Rakhit has claimed.

According to Mr Rakhit, FHBs are currently eyeing the property market for an entry point.

“Interest rates are stable and there are definitely some bargains to be had. As such, there are still plenty of reasons and opportunities for new home buyers to get their foot on the property ladder,” Mr Rakhit told The Adviser.

“First home buyers are quietly confident and brokers would be wise to capitalise on this positive sentiment.”

Genworth Financial’s latest Home Buyer Confidence Index found first home buyers are more confident than they were a year ago.

In addition, the Index found that FHBs are more comfortable with higher debt levels than other buyers and are happy to take on an LVR of more than 80 per cent.

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