Nano Digital Home Loans has suspended new home loan applications as soaring funding costs scupper its growth plans and place the viability of smaller, non-bank lenders under a cloud.
“Nano can confirm it has paused taking new applications in its direct-to-consumer mortgage business. The decision was made in the ordinary course of business as we wait for funding costs and credit spreads to normalise,” a spokesman said.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
