More Changes to Overseas Resident Lending
/Further to changes made by ANZ in March and Westpac in April, now all 4 major banks have tightened their rules relating to lending to Australian citizens earning their income overseas. In addition, 2nd tier lender Citibank has responded to a flood of applications diverted to them to wind back their lending to overseas based borrowers.
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Loanscape has today released its Borrowing Capacity Index for Q4/2024. It confirms the forecast trend that borrowing capacities of Australian individuals and families are recovering from their low levels which coincided with the last of the recent increases to borrowing rates initiated by the Reserve Bank of Australia.