Home borrowers set to receive $100,000 lending boost

Good news if you’re in the market to buy a property!

Home buyers are set to receive a borrowing boost in the order of $100,000 because of a combination of looming changes to lending standards and interest rate cuts, new modelling shows.

A single borrower with an annual income of $80,000, no other debts and average – or below – living expenses could today expect to be approved for a maximum loan amount of $512,000.

This would increase to $567,000 under the proposed relaxation of loan serviceability rules flagged by the banking regulator last week, according to modelling by Independent Mortgage Planners.

Read the full article here.

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