Tag: home loan guidebook
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Government Eases Home Loan Rules for HELP Debt-Holders
Australian banks have been directed to disregard student debts when evaluating home loan applications, a move aimed at assisting first-time borrowers burdened by HELP/HECS debts. Treasurer Jim Chalmers announced a series of regulatory changes to facilitate easier access to mortgages, particularly for university and TAFE graduates navigating the challenging property market landscape. Smash Your Home…
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Government Eases Home Loan Rules for Australians with Student Debts
Australians burdened with student loan debts can now breathe a sigh of relief as the government introduces a series of regulatory changes aimed at facilitating home loan applications. Treasurer Jim Chalmers, along with Housing Minister Clare O’Neil, Education Minister Jason Clare, and Assistant Treasurer Stephen Jones, have unveiled these modifications to aid individuals with Higher…
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Parliamentary Inquiry Explores Impact of Lending Regulations on Homeownership
As the Reserve Bank considers potential interest rate cuts, the focus on housing affordability intensifies in Australia. With the likelihood of rate cuts being low until early 2025, the pressure on prospective first-time home buyers is mounting. The stringent lending criteria pose significant challenges for individuals like 22-year-old Cassie McLaren, who seeks parental financial assistance…
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Maximize Home Loan Approval Chances with Financial Fitness
If you’re in the market for a home loan, you’ll know there are many boxes to tick before you’ll be approved for one. But that doesn’t mean it’s impossible. After all, banks and lenders are in the business of providing home loans. “Many new borrowers overcomplicate this,” Icon Money managing director Jasjeet Makkar told Savings.com.au.…
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Former Banker Leon Ng Revolutionizes Home Loan Experience with Zenith
Leon Ng, a former banker turned mortgage broker, embarked on a mission to simplify the home loan journey for everyday Australians. Ng’s transition to broking in 2019 was fueled by a desire to streamline the overwhelming loan process and act as a trusted advocate for clients. Witnessing the need for a more client-centric approach, Ng…
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ASIC Sues Westpac’s RAMS for Home Loan Misconduct
Corporate regulator ASIC has taken legal action against Westpac’s RAMS, accusing the lender of widespread misconduct related to home loans. The lawsuit alleges that RAMS failed to oversee its staff adequately, leading to instances of falsified pay slips and manipulated financial information on mortgage applications. These actions, according to ASIC, violated credit laws and involved…
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Regional Australia Bank Cuts Mortgage Rates to Attract Borrowers
Regional Australia Bank has made a significant move in the mortgage market by reducing its lowest two-year fixed home loan rate to 5.25% p.a., setting a new competitive standard. This rate cut is targeted at owner-occupiers with a loan-to-value ratio below 60%, offering them a favorable deal on principal and interest repayments. The bank’s decision…