Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Ease lending criteria: Loan Market group

Staff Reporter 3 minute read

Jessica Darnbrough

One brokerage is calling on lenders to loosen the lending criteria for home loans.

Loan Market Group’s chief operating officer Dean Rushton said the threat of rising interest rates had stifled homebuyer interest, and those that were interested were finding it hard to obtain finance approval.

“We believe banks will move their interest rates up independently of the RBA – but better they do this than pull back from lending altogether,” Mr Rushton said.

Advertisement
Advertisement

“The saving grace for the home finance sector in that eventuality would be if banks were to relax their lending criteria.”

A number of the majors have pulled back on their lending in 2010 due to higher funding costs.

However, Mr Rushton said hopefully future rate hikes and movements outside the RBA will restore some of their appetite to lend, particularly to the first home buyer sector.

Ease lending criteria: Loan Market group
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

PROMOTED CONTENT


default

 

more from the adviser
damian zaleski RYyr k3Ysqg unsplash

Breaking News

GetCapital launches broker platform

The business lender has rolled out a new broker platform, as it h...

fixed rate

Breaking News

Loyalty tax issue flagged to MPs

Brokers are key to holding lenders to account to ensure borrowers...

trade deal contract

Breaking News

Connective launches trail book marketplace

The aggregation group has announced a new arrangement with a spec...