Lending Criteria

Interest Rate Buffers Are Going Up, To Bring Debt Levels Down

personOtto Dargan access_timeOctober 11, 2021

The Australian Prudential Regulation Authority (APRA) announced that it will increase the interest rate buffers banks use to assess the serviceability of home loans from 2.5% to 3%. The higher buffer rate will be in place from the end of October 2021. It is applicable only for...

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Banks Tighten Lending Criteria Due To COVID-19

personOtto Dargan access_timeJuly 17, 2020

Banks in Australia have revised and tightened their lending criteria in response to the COVID-19 economic downturn.  They are getting stricter in their assessment to reduce the risks of borrowers defaulting on their home loans.  Why is it harder to get approved for a home loan? Getting...

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