Episode description
New legislation has recently come into force, that is having a huge impact on first home buyers, and existing property owners.
The Credit Contracts and Consumer Finance Act, or CCCFA for short, isn't a new concept, but the changes are.
The biggest change is that lenders now need to assess your income, and spending habits, to decide if you can fund your mortgage, both now, as well as in the future.
CHAPTERS:
01:29 What is the purpose of the new CCCFA changes?
02:33 What does the CCCFA have to do with payday loans?
03:54 How does the CCCFA changes impact first home buyer?
04:14 What should you do before getting a mortgage in 2022?
10:08 How does the CCCFA changes impact rental property owners with an existing mortgage?
14:04 Conclusion
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