Chinese no-deposit home loans could fuel speculation in Australian real estate

Posted by Simon Dehne on October 28, 2015 in Latest News with No Comments


Australian MoneyChinese investors being offered zero-deposit home loans over Australian apartments will be charged credit card interest rates, raising fears of increased offshore speculation in the already heady property market.

The privately owned Ping An Insurance, which is offering the zero-deposit home loans, will charge clients an annual interest rate of 14 per cent.

Eddie Yuen, the Shanghai-based manager of property agency Austpac, which is promoting the scheme to clients, said the loan had a two-year term and was to fund the initial 10 per cent down payment for an off the plan apartment.

Read more.

« previous post

International buyers eye Austr...

MosmanA home on the water’s edge has long been considered the ultimate prize by Australians bu...

next post »

ANZ joins rivals to raise stan....

ANZANZ has joined its rivals in raising interest rates for home owners to help cover the cost...

Leave a Reply

No trackbacks yet.

No post with similar tags yet.

Posts in similar categories

QUICK START Compare Home Loans

I am looking to buy a ...
I need to get a loan for ...
The type of interest rate I require is ...
My timeframe to buy or refinance is ...
Compare Investment Mortgages

Interest Rates in Australia

RBA Cash Rate:

1.50%

Next RBA meeting:

6/02/2018

Last months RBA Decision

- 0.00

RBA Rate Change last 12 mths:

-0.00%


Current & Past News Updates