People may be eligible for larger home loans from Friday as Apra allows lenders to change the way they assess a customer’s ability to pay
The Australian Prudential Regulation Authority has told lenders they can immediately change the way they assess customers’ ability to meet mortgage repayments in Australia’s new low-interest paradigm.
As flagged two months ago, Apra has eased serviceability requirements by no longer expecting banks to ensure customers could still repay their loan if its interest rate increased to at least 7%.
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