US EditionCoalition promises to relax home lending rules, against regulator's urging
- The Coalition plans to relax home lending rules to assist first home buyers struggling under current regulations.
- Economists predict that interest rates will remain unchanged at the RBA's April 1 meeting, influenced by concerns over U.S. Tariffs proposed by Donald Trump.
- Michael Sukkar emphasized that nearly 40% of first home buyers cannot secure loans due to high serviceability buffer requirements.
- Greens spokesperson Max Chandler-Mather criticized the Coalition's plan, claiming it would lead to excessive debt and benefit banks over borrowers.
17 Articles
17 Articles
Dutton Pledges to Lower the Home Loan Borrowing Buffer
Opposition Leader Peter Dutton believes the current mortgage serviceability buffer is too high and would like to lower the current rate. The home loan serviceability buffer is the additional amount banks add to interest rates when assessing whether an Australian can afford a loan. The Coalition revealed plans on April 1 to ask the Australian Prudential Regulation Authority (APRA) to consider lowering this buffer. APRA regulates banks, insurance …
Greens hit out at Coalition's election pledge to relax bank lending laws
The Coalition's election pledge to relax home lending laws for first homebuyers has been labelled a "disaster waiting to happen" by the Greens.Shadow housing minister Michael Sukkar said the Liberal Party would push regulator APRA to lower the mortgage serviceability buffer from its COVID-19 level of three per cent.This safety buffer is required when considering if a person will be able to make their mortgage repayments.READ MORE: 'Not on my wat…
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