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  1. Australia's household debt to income ratio has hit nearly 200 per cent, a level UBS analysts have called "extremely elevated" and "one of the highest in the world". Total household liabilities have been revised upwards to $2.466 trillion, or 199.7 per cent of disposable income, by Australian Bureau of Statistics. The revision was due to higher debt held within self-managed super funds, as the ABS is now incorporating new data from Australian Prudential Regulation Authority in its national accounts numbers. UBS analysts expect households to become even more leveraged over the next one to two years, as income growth remains subdued. "We expect total household debt to disposable income to peak around 205 per cent before the slow deleveraging process begins," analysts Jonathan Mott and Rachel Bentvelzen wrote. As house prices continue to cool, particularly in Sydney, the UBS analysts see a number of brakes on the property market as "the housing bubble begins to deflate". These include APRA's crackdown on interest only loans and the banks moving to improve lending standards amid scrutiny over "liar loans". "Sentiment for investment into the housing market is waning, with the 'fear of missing out' euphoria fading quickly, especially in Sydney," the analysts wrote. "Further, affordability remains a material issue."
  2. Hi Folks Sorry, another question! I have been working from an assumption that the upper limit for a salary multiple on mortgage lending would be around 4X salary. That is what it is here in UK, can someone confirm for me if that is the case? I found a post from 2008 on this, but cant find any recent updates and the websites are classically unclear! Cheers, Andrew
  3. Hi, I live in Melbourne and have a flat in glasgow. I need to do some housing repairs and wanted to add to my mortgage back in the UK. I called up to release some equity and was told I cannot do this because I live in Australia. The woman from RBS told me that due to Australian law I cant release equity to add to my mortgage or get a Uk loan of any kind. Is this right? Any help would be appricated.
  4. I think I knew what the answer would be before I rang , But I called an Oz bank in London to ask If I could secure a mortgage (to buy a property in Australia) against our current home here in the UK ( rental Income would cover payments easily) And the answer was of course .... NO. The property borrowed against has to be in Australia. Oh well it was worth a try ! Would have been nice landing in Oz with £150,000. Knowing that if things worked out we could return to England , Sell the house .Pay off the Mortgage and still have our Aussie home. I have read (don't always believe what you read) that property prices are going up by £100 a week in this area (madness) So we might have even made a profit ? If only things were that simple........ "MO"