Policy Changes Archives - Home Loan Experts

Policy Changes

Super Home Buyer Scheme

personOtto Dargan access_timeMay 17, 2022

error The Super Home Buyer Scheme was proposed by the Coalition. Since the Coalition lost the 2022 federal election, this scheme will not be available. With affordability already low and a decreasing housing supply, Prime Minister Scott Morrison has announced a proposal...

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What Is The RBA Cash Rate And How Does It Affect Your Mortgage?

personOtto Dargan access_timeNovember 1, 2021

Interest rates are on the rise. Home Loan Experts can help you save money in this difficult environment. Call 1300 889 743 or fill in our free assessment form to speak to one of our expert brokers today! close info Interest rates are on the rise....

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Banks Now Accept Self-Employed Salary As Income

personOtto Dargan access_timeSeptember 30, 2021

If you’re self-employed and you get a regular salary from your business, you can now use it as income to apply for a home loan. Before this change, most lenders required self-employed borrowers to provide at least 2 years’ worth of tax returns, financials and notices...

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Responsible Lending Laws To Be Terminated By March 2021

personOtto Dargan access_timeSeptember 25, 2020

What are responsible lending laws? The Rudd Labor government tightened the responsible lending law in 2009 following the GFC. The laws required lenders to make more of an effort to figure out whether would-be borrowers can afford to repay their debt. The responsible lending...

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NAB Guarantor Home Loan Withdrawn

personOtto Dargan access_timeJune 2, 2020

Effective from 25 May 2020, NAB will not accept parents as guarantors on their home loans or investment loans. NAB will not be able to do no deposit home loans for first home buyers who want to use their parents on their home loan. It updated their guarantor lending policy to...

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