Clock ticking for first-home buyers turning to government incentives

Copyright: domain The clock is ticking for first-home buyers to get on the property ladder with the help of government incentives, with a raft of support measures to expire in the coming months as property prices soar to new heights. Slow lending approvals, strong buyer competition and rapidly rising prices mean first-home buyers need to […]

Updated credit reporting laws to help or harm consumers?

Australians will have their private financial hardship information included on their credit reports for the first time with the passing of the National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Bill 2019. While before, credit reports were only required to include credit inquiries, defaults and serious infringements, banks must now report more about the […]

RBA governor defends stance on negative interest rates

(mortgagebusiness.com.au) Reserve Bank governor Philip Lowe has hit back at claims that the central bank’s stance on negative interest rates is “putting bank profits ahead of jobs”. In his appearance before the House of Representatives standing committee on economics on Friday (14 August), governor of the Reserve Bank of Australia (RBA) Philip Lowe was questioned […]

ANZ joins peers, revises IO policy

The major bank has amended its assessment policy for interest-only home loans, in line with new regulatory guidance from APRA. ANZ has announced that it will now enable home loan customers to switch to interest-only repayments or extend their terms for up to 12 months without a full serviceability assessment.The revision, which is effective immediately, […]

Govt announces $688m HomeBuilder package

Australians looking to build or renovate in the second half of the year will be able to get $25,000 from the federal government as part of a scheme aiming to keep the construction industry moving. The $688 million HomeBuilder package is available to owner-occupiers who sign a contract to start building or substantially renovating their […]