Prospective property buyers are jeopardising their chances of securing a home loan because purchases made through buy now pay later (BNPL) facilities are hurting their credit score, says a leading Queensland finance brokerage. Borro™ owner Cara Giovinazzo said lenders had been taking a harder line on BNPL activities and just a couple of transactions could …
Rising house prices and ballooning household debt levels have prompted APRA to tighten up lending regulations. This comes about as more than 1 in 5 mortgage holders have borrowed more than 6 times their income, which APRA see as being too risky. This week, the regulator wrote to Australia’s banks to let them know they …
APRA crackdown set to reduce how much Aussies can borrow Read More »
Big banks are effectively holding some of their customers to ransom by trying to enforce excessive terms of notice for discharging a loan, says a leading Queensland finance brokerage. Brisbane-based Borro™’s owner Cara Giovinazzo said she had been receiving complaints from clients about banks making it harder for customers to leave them by blowing out …
