What lawyers need to know ahead of 2024’s first cash rate call

Next week, the Reserve Bank of Australia will make its first cash rate decision for the year. With inflation dropping, there is much that legal professionals looking to purchase property or expand their existing portfolios need to be across – particularly to avoid missing out.

In this episode of The Lawyers Weekly Show, host Jerome Doraisamy welcomes back Legal Home Loans director of sales Cullen Haynes and lending manager Rachael Massoud to discuss the current state of affairs in the market, how lawyers can interpret the recent lowering of inflation, the likelihood that the Reserve Bank will keep the cash rate as is to start the new year, and how lenders are reacting to next week’s RBA decision.

The trio also discuss the incoming fixed-rate expiry cliff and how to ensure you are prepared, why getting pre-approval in place sooner rather than later will be critical for lawyers in the coming months, the serviceability factors that lawyers should be across, and the myriad benefits afforded to lawyers and legal businesses both through Legal Home Loans and when it comes to borrowing capacity (regardless of the size of one’s property portfolio).

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If you have any questions about what you heard today, any topics of interest you have in mind, or if you'd like to lend your voice to the show, email editor@lawyersweekly.com.au for more insights!