With all the talk, debate and other shenanigans going on between the two major parties at the moment in an effort to try and win your vote, as always, it will predominantly come down to a case of voters wondering ‘what’s in it for me?’.
And for borrowers, this means they’ll be looking to see if there’s really anything new to report.
Certainly there’s noise being made from both parties about trying to make things easier on the purse strings for Australian households. But what exactly can either party do to significantly help borrowers?
Some will say that being fiscally prudent about managing the economy is the most important issue because it has the effect it needs to keep monetary policy in check and maintain interest rates around current levels.
But others will prefer to see more immediate flow-on effects to household income through measures such as further tax cuts or another boost to housing market initiatives such as the First Home Owners Grant.
Whatever your poison, there’s no question the 30% or so Australians that own their own home outright will be looking at this Federal Election differently than the millions who are still juggling finances each month to continue paying their mortgage.
So stay tuned – because there’s still several weeks and a lot of desperate campaigning left to try and secure your vote. And this means if you’re a mortgage holder, you have an obligation to yourself to look very closely at all the issues that can potentially affect you and your financial bottom line.
Let the games begin!
Tags: Home Loans; Budget; Affordability; First Home Buyers; Investment, Interest Rates, Mortgage, tax cuts