$100k Lending Boost

$100k Lending Boost

Trent Richards Trent Richards

Trent Richards

C.E.O. Black Diamond Private Wealth LTD

发布日期: 2019年6月3日
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Home buyers are set to receive a borrowing boost in the order of $100,000 because of expected changes to lending standards and interest rates, new modelling shows.

A single borrower with an annual income of $80,000, no other debts and average living expenses could today expect to be approved for a maximum loan of $512,000. This would increase to $567,000 under the proposed relaxation of loan serviceability rules flagged by APRA, according to modelling by Independent Mortgage Planners.

It would increase again to $598,000, if the Reserve Bank reduces the official interest rate. Mortgage broker Louise Lucas of The Property Education Company says the industry expects significant changes to be in place by mid-June, after APRA has consulted with the lending sector about the new assessment levelThe major banks currently assess borrowers at 7.25% but the new assessment level is likely to be less than 6%, Lucas says.

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