Surfers Paradise 
Property markets across the country have been given a shot in the arm, with Australia’s banking regulator announcing its plans to relax the assessment rate for home loans.
This effectively means homeowners could borrow more money, which industry figures are describing as the biggest development for the property market “in at least four years”.
Currently, lenders have to assess whether a borrower can afford their repayments using a minimum interest rate of at least 7 per cent. This was a rule introduced by the Australian Prudential Regulation Authority (APRA) in December 2014 as part of its efforts to reinforce sound residential lending standards.
Under APRA’s new proposal, lenders would be permitted to review and set their own minimum interest rate floor for use in serviceability assessments.
Read the full article at the Domain website here.
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