Yesterday
NAB calls for lower home loan buffer to help first-time buyers
In a submission to the Senate inquiry, NAB says dropping HECS-HELP debt from serviceability calculations for first home buyers would boost borrowing capacity.
- James Eyers
Banks blocked from factoring in rising income when assessing loans
A bank boss says it is “absurd” that regulations prevent expectations that a young, professional borrower’s income will rise after they apply for a home loan.
- Updated
- James Eyers
This Month
- Updated
- Interest rates
CBA’s Comyn backs APRA’s mortgage buffer rules amid intense criticism
The chief executive of the country’s biggest lender said critics – who say the regulations make loans unattainable – were looking for an easy but ineffective fix.
- Updated
- Michael Read and Lucas Baird
- Analysis
- Big four
Buffer or blocker? Why APRA’s serviceability rule is so controversial
CBA boss Matt Comyn has defended APRA’s prudential settings from political attacks, saying housing policy must focus on supply.
- James Eyers
Credit score agencies combine, creating Australia’s newest duopoly
Experian has completed its $820 million acquisition of Illion, which Experian’s CEO says will help banks assess credit risk more dynamically.
- James Eyers
September
Lending laws locking out home buyers: Bendigo bank
Treasurer Jim Chalmers has rebuffed calls to ease mortgage lending laws after Coalition MPs and ANZ warned prospective home buyers were struggling to get finance.
- Michael Read and Lucas Baird
Macquarie leads the pack in end-of-year mortgage scramble
Official figures show the financial services giant’s loan book rose at four times the pace of its big bank rivals in August.
- Lucas Baird
- Exclusive
- Negative gearing
Labor members want negative gearing changes in ambitious housing plan
Labor for Housing, a national group of members, wants Labor to adopt an 80 per cent homeownership target by 2040.
- Ronald Mizen
- Exclusive
- Liberal Party
Own home becoming ‘just for rich’: Coalition weighs lending overhaul
Housing has become a key battleground for the major parties, as record prices and high interest rates combine to significantly reduce affordability.
- Michael Read
- Exclusive
- Franchising
‘Do not speak to the media’: BoQ’s threat to aggrieved branch owners
Bank of Queensland has warned members of its franchise network not to speak publicly about the corporate takeover or they will face “consequence management”.
- Lucas Baird
- Exclusive
- Franchising
BOQ prepares for showdown with franchisees as it buys back branches
The bank has set aside $125 million to buy out branch owners in an abrupt reversal of its strategy.
- Lucas Baird
Cashback promos quietly return as battle for home loans intensifies
Some of Australia’s biggest banks are once again offering upfront cash incentives to lure and retain borrowers.
- Lucas Baird
Tapping super for housing ‘a win for wealthy, older investors’
The Coalition policy would increase the borrowing of younger couples by only $90,000, compared with $400,000 for older investors, new analysis has found.
- Hannah Wootton
- Opinion
- Chanticleer
Meet Australia’s riskiest mortgage customers
The wave of mortgage refinancing that has occurred in the past two years is now starting to show up in loan delinquencies.
- James Thomson
Substantial rate cuts needed before buyers will return: experts
Even a 0.25 percentage point reduction in the cash rate would have little impact on affordability for most middle and lower income buyers.
- Nila Sweeney
- Exclusive
- Banking products
ING not afraid to use home loan brokers to catch Bendigo and Adelaide
The Dutch-owned bank writes between “85 and 90 per cent” of its new mortgages via the broking channel in Australia, says chief executive Melanie Evans.
- Lucas Baird
Macquarie’s $1.9b mortgage assault pushes big four
The nation’s largest lenders are ready to ramp up competition for home borrowers.
- Lucas Baird
August
- Updated
- Interest rates
CBA cuts interest rates for new borrowers
The country’s largest lender lowered variable rates for new owner-occupiers by 0.25 of a percentage point, and up to 0.35 for some investment loans.
- Lucas Baird and James Eyers
Can I get a mortgage without a credit score?
Credit scores are a shortcut used by credit providers to assess your history in repaying debt. But what happens if you don’t have one?
- Penny Wise
- Updated
- Earnings season
Gold rush for CBA investors with $7.7b cash splash
But the bank said there were risks on the horizon, including geopolitical uncertainty, cost of living pressures on younger customers, and rising mortgage arrears.
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- James Eyers and Lucas Baird