{"id":19949,"date":"2019-07-08T13:22:12","date_gmt":"2019-07-08T01:22:12","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=19949"},"modified":"2019-07-08T13:22:12","modified_gmt":"2019-07-08T01:22:12","slug":"apra-loosens-home-loan-serviceability-restrictions","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/apra-loosens-home-loan-serviceability-restrictions\/","title":{"rendered":"APRA loosens home loan serviceability restrictions"},"content":{"rendered":"

 <\/p>\n

PHOTO:\u00a0APRA<\/strong><\/p>\n

The Australian Prudential Regulation Authority (APRA) has announced that it has loosened the serviceability restrictions on home loan\u00a0mortgage\u00a0assessments.<\/p>\n

It will allow borrowers to lift the size of their loans as lenders will be allowed to provide mortgages up to 14 per cent larger.<\/p>\n

In a letter to lenders issued Friday, APRA confirmed its updated guidance on residential mortgage lending.<\/p>\n

They will no longer expect them to assess home loan applications using a minimum interest rate of at least 7 per cent or 7.25 per cent which has been the common industry practice.<\/p>\n

Lenders will use a revised interest rate buffer of at least 2.5 per cent over the loan\u2019s interest rate.<\/p>\n

AMP Capital chief economist Shane Oliver noted the prudential changes were yet to have a real impact, although they would have helped sentiment at auctions.<\/p>\n

\u201cThe interest rates cuts and the election result are the main factors,\u201d he said.<\/p>\n

READ MORE VIA PROPERTY OBSERVER<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  PHOTO:\u00a0APRA The Australian Prudential Regulation Authority (APRA) has announcedRead More →<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":19950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478106155,478103092,478098512,478101130,478098521,478098542,478106153,478098519,478098535,478101743,478098873,478098579,478098510,478098514,478098511,478098509,478106154,478106152,478103380],"class_list":["entry","author-wpcomsupport","post-19949","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-amp-capital","tag-apra","tag-australia","tag-australian-prudential-regulation-authority","tag-australians","tag-home-loans","tag-home-loan-mortgage","tag-home-ownership","tag-house-prices","tag-property-correction","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-news","tag-residential-mortgage-lending","tag-serviceability-restrictions","tag-shane-oliver"],"yoast_head":"\nAPRA loosens home loan serviceability restrictions - 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