“Old generals always fight the previous war” goes the old adage – many of the old arguments are being rolled out by both sides in the proposed changes to Responsible Lending rules. But, as we…
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Tim Lawless| Corelogic| 18 November 2020 https://www.corelogic.com.au/news/could-household-debt-levels-be-trigger-another-round-credit-tightening?utm_medium=email&utm_source=newsletter&utm_campaign=20201123_propertypulse&utm_content=pp_blog%20 Australian household debt levels have increased substantially over the past thirty years, with the ratio of household debt to annual disposable income rising from 68% in June 1990…
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Anna Bligh| Sydney Morning Herald| 25 November 2020 https://www.smh.com.au/business/banking-and-finance/australia-s-lending-laws-are-overdue-for-an-overhaul-20201125-p56hq8.html They say a week is a long time in politics. If that’s true – eleven years is an eternity. That’s how long it’s been since the…
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Annie Kane| Mortgage Business| 23 November 2020 https://www.mortgagebusiness.com.au/breaking-news/15153-responsible-lending-removal-the-pros-and-cons The proposal to overhaul responsible lending obligations has been met with mixed reaction, with many welcoming its ability to speed up the flow of credit while others…
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Steven Deare| The New Daily| 9 October 2020 https://thenewdaily.com.au/finance/property/2020/10/09/home-loans-august/ More Australians are seeking to buy a property while interest rates remain at historically low levels, sending new home loan commitments surging. Home buyers took advantage…
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Across the country auction clearance rates are strong and getting stronger. Low interest rates, government handouts and possible relaxing of lending criteria are encouraging Australians to take out a mortgage and buy a property. Most…
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The property market is rapidly approaching crunch time – where there will be multiple winners and losers. The end of this month is D-Day for the 450,000 borrowers who deferred home loan payments. Some will…
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Despite the Reserve Bank not having changed the official cash rate recently, banks are dropping their own mortgage rates as they compete against each other for home loan business Interest rates are now the lowest…
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Banks Keep Lending to Pump Economy Australia’s banks look set to keep rates at record lows and to be flexible with borrowers impacted by COVID 19. Reserve Bank Governor, Dr Philip Lowe, recently spoke to…
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Banks to have more flexibility in assessing loan applications Westpac Banking Corp has won a significant victory in the Federal Court on its interpretation of responsible lending duties. The court backed Westpac’s arguments that the…
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