But while the 3.49 per cent rate might look like an easy target for applications, brokers said that the banks using lower rates usually also used a higher expenses calculation and required borrowers to have more money set aside for bills than the others did. That meant it could be just as hard to get a deal done. The bank assumed that some of those expenses would be cut if repayments rose, allowing the borrower to continue to service the loan. All this means that while you might baulk at the idea of your home loan payments becoming more expensive, the bank has already checked that you can cope with it – either with slack that is in your budget already, or the cuts you can make to your spending.
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“Lending for apartments does carry more risk than for other property, and we’ll still need a higher, 50 per cent deposit for smaller apartments below 38sqm and other, non-standard apartments like leasehold or studio apartments. Higher risks can include the ability for the property to maintain its value and increase over time, building defects, the quality of the body corporate, and leasehold tenure. “However, it’s important that homeownership is accessible to as many Kiwis as possible. So, we’ve changed our rules to unlock a wider range of apartments at lower deposits, as an affordable property option for more people.”
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Nipissing First Nation chief and council has declared a COVID-19 outbreak in the Duchesnay community.
A notice released by Nipissing First Nation says the outbreak is effective Thursday and will continue until further notice.
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At least five positive cases of COVID-19, which are linked, have been confirmed since Sunday, the notice says.
However, the exact origin of the outbreak has not been confirmed and the investigation remains ongoing.
“It’s important to note that while there isn’t a standard threshold for declaring a ‘community outbreak,’ this sudden surge in cases in one area of our nation meets our definition of an outbreak requiring immediate notification of our community members to control and contain it as quickly as possible,” the notice said.