121Industry at loggerheads over cause of housing slump
- ... Bank of Australia’s deputy governor, Guy Debelle, acknowledged that the prolonged effects of the Australian Prudential Regulation Authority’s macro-prudential caps on investor and interest-only lending ...
- 19 November 2018 in News
122APRA preparing for ‘unseasonable’ market ‘cold snap’
- ... standards and caps on investor and interest-only lending. The deputy governor said that he was concerned that “riskier borrowing’ would be the “accelerator”, not the cause, of a “negative shock” to the ...
- 16 November 2018 in News
123Government urged to limit ‘destructive’ APRA powers
- ... Mr Pressley said that he expects APRA’s macro-prudential curbs on investor and interest-only lending over the past few years to have broader implications on the Australian economy. “This will soon ...
- 15 November 2018 in News
124Consumer spending could help offset debt risks
- ... or no real equity in their home, up from 8 per cent 12 months prior. Consumer spending could also be impacted by the rollover of interest-only (IO) loans into principal and interest (P&I), which the ...
- 14 November 2018 in News
125Federal Court rejects Westpac $35m penalty
- ... to use the higher repayments at the end of the interest-only period when assessing a consumer’s capacity to repay the loan, for home loans to owner-occupiers with an interest-only period. For example, ...
- 13 November 2018 in News
126KPMG issues warning on delinquent mortgages
- ... that high household leverage levels, higher lending rates, tightening credit conditions, the maturity of interest-only mortgages and continued high consumer confidence will drive an uptick in delinquencies ...
- 09 November 2018 in News
127Non-banks ‘chipping away’ at major bank share
- ... constraints on investor and interest-only loans. “These pressures are likely to increase further over the next year with the mandated introduction of open banking in July 2019 and a renewed focus on ...
- 07 November 2018 in News
128Major bank reports drop in mortgage applications
- ... 61 per cent of the portfolio (up from 50 per cent as at September 2017), with the group holding its proportion of new interest-only mortgages to less than 30 per cent of new flows (at 23 per cent of new ...
- 06 November 2018 in News
129Major bank CEO intent on reducing ‘churn’
- ... investors dropped from 42 per cent to 40.9 per cent. The proportion of interest-only loans also declined, falling from 29.8 per cent to 24.5 per cent. The results revealed that the proportion of home ...
- 02 November 2018 in News
130Household wealth could plummet by $700bn
- ... Morgan Stanley noted that central banks have been focusing on financial stability using macro-prudential measures, such as caps on investor and interest-only loan growth in Australia and limits on loan-to-value ...
- 02 November 2018 in News
131AMP Bank cuts fees for ‘simplicity’
- ... 20 October 2018, with existing customers of AMP SuperEdge loans to be prevented from switching to interest-only repayments, refinancing or extending their loan term after 10 November 2018. Similar moves ...
- 30 October 2018 in News
132New directors join AMP super boards
- ... moves were made by other lenders such as Westpac and Commonwealth Bank. The announcement followed AMP revealing in September that it would no longer be offering interest-only terms on new SuperEdge Loans. ...
- 18 October 2018 in News
133P&I switch could worsen senior debt stress
- ... DTI levels for individual borrowers. The helpline representative also confirmed that mortgagors had started to express concern about being switched from interest-only (IO) to principal and interest (P&I) ...
- 17 October 2018 in News
134Borrowers increasingly slipping into negative equity: Roy Morgan
- ... their loan and the use of interest-only loans,” Mr Morris added. “If home loan rates rise, the problem would be likely to worsen as repayments would increase and house prices decline, with the potential ...
- 16 October 2018 in News
135Mortgage delinquencies highest in Australia’s outer suburbs
- ... to the higher number of investment and interest-only loans among borrowers closest to the CBD. “In Melbourne, Brisbane, Adelaide and Perth, arrears rates in suburbs closest to the city centre (within 5 ...
- 11 October 2018 in News
136Pepper Group prices second RMBS issue of 2018
- ... base who invested in both Australian and US dollar notes,” Mr Byrne added. Investment loans represent 57.8 per cent of the portfolio, while interest-only loans account for 47.2 per cent, both of which ...
- 08 October 2018 in News
137Bank CEO calls for ‘clarity’ over expense validation
- ... in FY18. BOQ stated that 61 per cent of its mortgage settlements were for owner-occupied borrowers, with 39 per cent for investors, while interest-only repayments were fixed to 14 per cent of its overall ...
- 05 October 2018 in News
138Bank-aggregator reveals post-merger plans
- ... interest-only loans. Shareholders happy — except Firstmac Moreover, Mr Lyons told Mortgage Business that he’s received positive feedback from shareholders following Goldfields’ merger with Finsure, ...
- 28 September 2018 in News
139AMP to remove SMSF loan product from sale
- ... SuperEdge Loan applications that are lodged before 20 October will be “assessed and reviewed under current policies”. In August of this year, AMP Bank said that it would no longer offer interest-only ...
- 26 September 2018 in News
14013% of investors will ‘struggle’ to repay P&I
- The expiry of the interest-only period is set to place 13 per cent of property investors in financial stress, according to new research. According to a survey of 820 property investors from the Property ...
- 25 September 2018 in News