Banks Benchmark changes and means to you

Have you ever wanted to buy that next investment property? Have you been knocked back to be able to borrow some money from the bank? Hey, it's Aaron from Diagnostics and Finance. And realistically, when people have more than one property, the rates of assessment have an impact on how they're going to afford it. And what's changed recently is the assessment rate. The assessment rate has now become a floating 2.5%. It bottoms out about 5.5, 5.75, depending on which bank, but it allows maybe around that 10 to 15% extra borrowing capacity. So if you've been knocked back before and only just not been able to achieve what you wanted to do for a refinance, or even sneaking that last investment property in with a little bit of extra borrowing power, now is your chance. This week, those assessment changes have come in. Some of the banks have changed their calculators to help us out. Some are still giving me a little bit of gray hair. But check out these new calculators are out. So if you had trouble before trying to get that last investment property, jump in. Now. If you're trying to refinance and restructure your mortgage, those assessment rates are out now. All right, it's Aaron from Diagnostics Finance.