Finance squeeze could dent housing recovery
New lending rules from APRA and the big banks loom as a hurdle to Australia’s economic recovery from COVID-19, with first homebuyers to self-funded retirees unable to transact due to a credit squeeze.
NAB's latest lending policy change has drawn the ire of those nearing retirement age. Photo: Shutterstock (Image source: Shutterstock.com)
New lending rules from APRA and the big banks loom as a hurdle to Australia’s economic recovery from COVID-19, with first homebuyers to self-funded retirees unable to transact due to a credit squeeze.
Property Club president Kevin Young told Australian Property Investor Magazine that Australia’s biggest banks had recently put in place a suite of new lending rules in recent weeks, making it more difficult for many to obtain housing finance.
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