National Australia Bank has pledged to work with the federal government and financial regulators to bring more young buyers into the property market, suggesting a lower “serviceability buffer” could be applied for first-time borrowers.
NAB also said removing HECS-HELP debt from loan assessment calculations would significantly increase a first home buyer’s borrowing capacity.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
