Last night's leadership change has thrown Australia’s political landscape up in the air, but is likely to have little effect on mortgage products, despite an almost complete change in the country’s finance leadership.
Kevin Rudd’s dramatic return to head of the Labor Party has seen Wayne Swan resign as Treasurer, but MFAA chief executive Phil Naylor has told Your Investment Property sister publication Australian Broker that the move won’t have a big effect on the lending industry.
"Ministers come and go, whether they're the same party or different parties, and we always learn to deal with them," Naylor said.
Chris Bowen is widely predicted to take Swan's place as Treasurer, though the position could be short-lived as Rudd is expected to call a quick election.
With an election looming in the near future regardless of Rudd's actions, Naylor said it's too early to tell what impact - if any - the leadership change would have on the mortgage industry.
"As always, we'll be working with whoever's in place to get the best deal for our members," he said.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out