Finance and Coffee
2 months ago · 3 min read
Award-winning aggregator Loan Market has teamed with affiliate and Australia’s largest real estate network Ray White to support property investors amidst extended lockdowns.
Loan Market’s ‘Love Your Landlord’ campaign brings together brokers and property managers to reprice or refinance Ray White investors, providing them with financial certainty as COVID-19 lingers in communities.
The campaign provides long-term security to landlords wherever their property is located. However, its value to investors who own rental properties in lockdown-affected areas has come to the fore as local transmission of COVID-19 extended the Greater Sydney lockdown until 28 August.
Yesterday (Wednesday July 28) New South Wales recorded 177 new COVID-19 local cases.
There is a moratorium on evictions of residential tenants in NSW whose incomes have been affected by more than 25% because of lockdowns, until September 11.
“Love Your Landlord allows brokers to support the goals of Ray White property managers, which is to maximise the performance of their clients’ investments,” said Loan Market Executive Director Andrea McNaughton.
“The program supports landlords wherever their properties are located in Australia.
“But it's now critical for landlords in New South Wales, where case numbers are high and lockdown has been extended with further restrictions. Love Your Landlord helps shore-up the financial position of investors who have tenants who are struggling to meet payments.”
Mrs McNaughton said the unpredictability of lockdowns - Melburnians endured five lockdowns - meant the Love Your Landlord campaign was a safeguard for investors, wherever they are.
At the height of COVID-19 last year, Loan Market brokers helped over 1000 landlords over eight weeks secure repayment pauses and/or refinance.
Mrs McNaughton said Loan Market had set a target of saving landlords $5 million through the nationwide program.
In the opening of the launch, the program has attracted:
“We anticipate demand to grow quickly. Importantly, the program's value extends beyond lockdowns,” said Mrs McNaughton.
“It’s in any investor’s interests to maximise their returns, whether that’s through repricing or refinancing, or working in tandem with expert property managers to identify and finance value-adding renovations that attract higher rental returns.
“Property investment is usually a long-term strategy and, through Love Your Landlord, we’re working with property managers to maximise returns fo