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Almost 40 per cent of Aussie Home Loans’ customers are using their loan for re-financing purposes, the broker has revealed.
The number increased from 30.2 per cent in March to 38.5 per cent in June.
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The number of first home buyer loans fell from 32 per cent in March to 21.3 per cent in June.
Aussie executive chairman John Symond said the steam had abated in the first home buyer market as many realised that the properties available are probably at full price.
“This is a positive step for the property market and one which will minimise the chances of a property price bubble,” Mr Symond said.
The figures coincide with the launch of Aussie’s new loan search tool, One Minute Mortgage Explorer.
The tool is said to objectively rank loans by initial monthly repayments for the customer, showing them how much they could potentially save if they are looking to re-finance.
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