The Australian Prudential Regulation Authority has written to banks proposing the 7 per cent serviceability buffer on home loans be removed, in good news for borrowers and the property market.
Wayne Bryes says: "The merits of a single floor rate across all products have been substantially reduced." Louie Douvis
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
