Property market continues to cool off as home loans tumble

Property market continues to cool off as home loans tumble

Posted May 11, 2018 12:05:51 The retreat of investors from the property market is starting to look like a rout with a big fall in applications in March. In seasonally adjusted terms, investor loans fell 9 per cent over the month. Owner-occupier interest also cooled, down 1.9 per cent. Overall …

Borrowers may find it difficult refinancing loans as credit tightens: RBA

Borrowers may find it difficult refinancing loans as credit tightens: RBA

Updated May 04, 2018 15:38:02 Tighter lending standards are likely to make it more difficult for property investors to extend the life of their interest-only loans and leave some borrowers exposed to surging repayments, the Reserve Bank has warned. The RBA says the recent stance by the Australian Securities & …

RBA defuses fears over $360b in interest-only home loans expiring

RBA defuses fears over $360b in interest-only home loans expiring

THE Reserve Bank has estimated that $360b in housing loans will hit the end of their interest-only periods in the next three years, but downplayed fears saying so far the transition has been smooth. RBA Assistant Governor (financial markets) Christopher Kent told a Housing Industry Association Breakfast in Sydney this …

Westpac home loan expenses tests toughened to weed out liar loans

Westpac home loan expenses tests toughened to weed out liar loans

Updated April 11, 2018 15:59:23 Australia’s second biggest home lender is further tightening lending standards by asking more detailed questions about exactly how much prospective loan customers spend and on what. Key points: Westpac is increasing expenses categories from six to 13 The bank wants staff and brokers to probe …

Greens push for Reserve Bank to become a ‘people’s bank’ offering cheap home loans

Greens push for Reserve Bank to become a ‘people’s bank’ offering cheap home loans

Updated April 04, 2018 13:59:29 Video: Richard Di Natale announced his ‘people’s bank’ proposal at the National Press Club (ABC News) The Greens are suggesting turning the Reserve Bank into a “people’s bank” that could give borrowers up to 60 per cent of the cost of a house at lower …

Aussie Home Loans abdicates responsibility for fraudulent brokers to others

Aussie Home Loans abdicates responsibility for fraudulent brokers to others

Updated March 16, 2018 15:08:44 Photo: Aussie Home Loans states on its website: “For over 25 years now, we’ve kept the banks in check”. (Aussie Home Loans) Aussie Home Loans has come under fire at the banking royal commission for how it deals with its mortgage brokers who commit fraud. …

New car loans a trap for young players, with casual worker falling victim to ‘scam’

New car loans a trap for young players, with casual worker falling victim to ‘scam’

Posted March 22, 2018 06:08:09 Photo: Justin Crawley, from Picnic Point in Sydney, was pursued by debt collectors for a car that had been repossessed. (ABC News: Meredith Griffiths) Like so many young people, Justin Crawley needed a car to get to work, so in 2010 he went to a …