Connecting regional hubs to major cities would benefit more Aussies

The federal government has wasted decades, millions of dollars, and countless man-hours trying to replace air travel between Sydney and Melbourne with trains when its main goal should be connecting Australia’s most populous cities with regional hubs, argues Chris Kohler, national business editor for the Domain Group. “The Melbourne and Sydney housing affordability story has […]

First Home Super Saver Scheme could drain super accounts – study

The Turnbull government’s plans to allow first-home buyers to direct up to $30,000 of their superannuation savings into a housing deposit could end up draining super accounts and costing savers more compared to using traditional bank accounts, warns Industry Super Australia (ISA) – a research and advocacy body for Industry SuperFunds. Stephen Anthony, chief economist […]

Moody’s: Loans to property investors facing increased risk

Existing loans to property investors are facing greater risks due to rising interest rates and narrowing refinance options, according to Moody’s. The ratings agency also warned that investors would default on mortgages more often than owner-occupiers if the economy weakened. Offsetting these risks, Moody’s said the recent regulatory clamps on lending had improved the credit […]

NAB requires more screening for interest-only applicants

Last Friday, National Australia Bank (NAB) told mortgage brokers to demand more information from applicants opting for interest-only repayments. The move continues a trend of tighter regulations on customers failing to sign up for principal-and-interest repayments. Meg Bonighton, NAB’s general manager of home lending, said the increased crackdown will come into force beginning on Saturday, […]

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