Policy Changes
Borrowing Power Changes: How Much More Can I Borrow?
This month APRA (Australian Prudential Regulation Authority) has removed rules for the banks about how they calculate borrowing power. As a result, borrowing power has increased by as much as 15 per cent. Who are the winners? Home buyers have seen their borrowing power increase...
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bookmarkTags: APRA, Assessment rate, Borrowing power, Home Loan
Major Bank Cuts Lending To 33 Postcodes
In a surprise move on Friday, National Australia Bank (NAB) announced that it was expanding its restricted postcode list to include many more inner city and regional areas. The bank will now restrict lending in these areas by requiring people to have a larger deposit or more...
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bookmarkTags: Banks, Deposit, Lenders Mortgage Insurance, News, Predictions
Is Your Property Located In One Of These Risky Suburbs?
Did you hear? Your suburb may be on a list of high risk postcodes as identified by one of the Australia’s biggest banks! National Australia Bank (NAB) has identified 40 suburbs where “significant deterioration in credit risk has been observed” and a further 43 suburbs...
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bookmarkTags: Deposit, First home Buyer, Home, Home Loan, Investment, Lenders Mortgage Insurance, LMI, Mortgage, News
Comprehensive Credit Reporting Is Here: Bad News For Borrowers?
One of the big four banks has flagged that it will start sharing much more information about customer accounts to credit reporting agencies as part of the so-called Comprehensive Credit Reporting (CCR) system from as early as August 2015. As more lenders get on board, it could...
Read morefolderCategory: Credit Score, Home Loan Articles, Policy Changes
bookmarkTags: Bad credit, Banks, Credit Checks, Credit file, Credit Score, Debts, First home Buyer, Home Loan
Are Lenders Cracking Down On Investment Loans?
It could soon be tougher than ever to invest in property as Australian banks move to keep up with new regulatory changes aimed at pulling back on investment loans. So far, one major bank is no longer accepting 100% of your rental income when assessing your ability to repay the...
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bookmarkTags: Banks, Deposit, Government, Home Loan, Investment, Investors, Lenders, News, Property Investment
Special LMI Offer For Professionals
One of our lenders has announced a special discount on Lenders Mortgage Insurance (LMI) for certain professionals who are applying for a home loan. Although this is a limited time offer, it is likely that the lender will extend the offer if it is successful. Which professions...
Read morefolderCategory: News, Policy Changes, Unusual Employment Loans
bookmarkTags: Exemption, Home Loan, Lenders Mortgage Insurance, Mortgage, News
Home Loan Using A Gifted Deposit
Are you looking to a buy a new home? What if you don’t have any savings? Most banks require a 5% deposit to put towards the purchase price before they will lend to you. In the past, the banks had very restrictive genuine savings policies and would only approve individuals where...
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Borrow Up To 95% On A 457 Visa
457 visa holders living in Australia can now borrow up to 95% of the purchase price of a home including lenders mortgage insurance (LMI) thanks to a recent policy changes with one of our banks. What does approval depend upon? Approval is still subject to your financial situation...
Read morefolderCategory: Policy Changes, Temporary Residents
bookmarkTags: 457 Visa, Banks, Home, Home Loan, Lenders, Loan, Mortgage, News, Non-Resident
Home Loan With Spouse’s Income
Many couples choose to separate the ownership of assets from the source of income. For example, the husband may have a good income and the wife may buy the family home in her name with a home loan in both names. Unfortunately, many banks don’t like this structure or many of...
Read morefolderCategory: Home Loan Articles, Investment Loans, Policy Changes
bookmarkTags: Banks, Home Loan, Investment Strategy, Investors, Mortgage, Ownership
