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Major home loan crackdown announced – here’s how it could make it harder to get a mortgage

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Major home loan crackdown announced – here’s how it could make it harder to get a mortgage
Major home loan crackdown announced – here’s how it could make it harder to get a mortgage

BREAKING NEWS: Major home loan crackdown announced – here’s how it could make it HARDER to get a mortgage and how it will affect house prices

  •  Australian Prudential Regulation Authority has announced loan crackdown










Australian borrowers will soon have a tougher time getting a new home loan with the banking regulator announcing new rules to tackle the surge in debt levels.

National property prices in September soared by 20.3 per cent – the fastest annual pace since 1989.

The Australian Prudential Regulation Authority,  the banking regulator, on Wednesday announced new stricter lending rules with typical homes even outside Sydney and Melbourne unaffordable for ordinary borrowers.

Australians on an average, full-time salary of $90,329 would now have a debt-to-income ratio of six just to buy a median-priced $674,848 home with a 20 per cent deposit factored in, CoreLogic data shows.

Australian borrowers will soon have a tougher time getting a new home loan with the banking regulator announcing new rules to tackle the surge in debt levels

Australian borrowers will soon have a tougher time getting a new home loan with the banking regulator announcing new rules to tackle the surge in debt levels

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