In the wake of their big legal win against ASIC this week, Westpac has announced its plan to improve its loan policies.
News
APRA has closed the deal on lending serviceability floor changes
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15 August 2019
The nation's financial regulator has moved forward with its plans to scrap the 7 per cent floor for mortgage serviceability assessments.
The Reserve Bank has decided against a third rate cut in a row
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09 August 2019
The Reserve Bank has decided against cutting rates for the third month in a row and has left them at their record-low of 1 per cent.
Negative gearing concessions on vacant land have been scaled back
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07 August 2019
The Federal Government has introduced legislation to Parliament – backdated to July 1 – that cuts back negative gearing concessions on vacant land.
US Fed cuts rates for the first time since the GFC
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02 August 2019
The US Fed has cut rates for the first time since the Global Financial Crisis and it has put pressure on the Reserve Bank here at home to lower its official cash rate again in the coming months.
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