More changes to credit 'availability'.

  1. 5,569 Posts.
    "ANZ Bank has tightened mortgage lending policies for security guarantees, limiting the leverage that family members can take on to assist in property purchases, towards the end of a multi-year property boom that is being closely monitored by regulators.
    As banks lose their appetite for risk, ANZ told mortgage brokers it was making “several changes” to the bank’s security guarantee policy following a review of retail credit rules.
    The changes come into force from August 1, limiting who can act as a guarantor to family members, including parents/step-parents, grandparents, siblings and children."
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