Finance News
Good news for borrowers
15 Aug 2019

With interest rates at all-time lows, many people have been frustrated by their inability to secure new lending due to the harsh lending criteria. After the Royal Commission into the banks, there was seen to be a tightening of borrowing conditions and many borrowers found themselves unable to satisfy all the new requirements.

In good news for borrowers, APRA has recently lifted several restrictions on the banks with the main one being that banks can now decide their own interest rate floors for loan serviceability. Put quite simply, people now can borrow more on the same amount of income due to these changes.

If you are looking to get a loan or would like your current situation reviewed, please do not hesitate to contact us for a free, no obligation consultation with our loan broker.

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