Borrowers will get extra bang for their bucks under new lending rules for banks

Australia’s slumping property market has just been given an injection of life with news that banking regulations will be relaxed to give borrowers access to much bigger loans.

The Australian reports that a shake-up unveiled by the Australian Prudential Regulation Authority means that tens of thousands of prospective home buyers are expected to charge into the housing market.

The outcome of the new easing of regulatory restrictions will be that borrowers will be able to get hold of mortgages 14 per cent bigger than in the past.

Source link Finance News Australia

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