All four big banks have now hiked fixed rates following the RBA meeting 10 days ago.
APRA’s recent increases to banks’ loan serviceability expectations are intended to cool rapidly rising prices, but industry experts warn that there could be unintended consequences.
New lending rules are about to kick in, which will limit the amount people can borrow from the bank.
The Australian Prudential Regulation Authority (APRA), has made a simple, but significant change to the lending rules for banks and other authorised lenders.
The bigger the better. Ideally, you will have about 20 percent of the house purchase price saved up. This is a good idea for a couple of reasons.
The lender may ask for three to six months of bank statements for your transactional accounts so they can identify incomings and outgoings.
Pulling together the information for a loan application can seem daunting, and may even feel a little invasive.
Westpac has said that moves to tighten lending standards could come earlier than it previously predicted.
The ACCC has set its sights on helping home loan borrowers save money by upping their engagement with the home loan market after its Home Loan Price Inquiry revealed some interesting facts.
Asset-rich, cash-poor Australians can use the equity in their properties as a way of topping up any shortfalls in retirement.