Finance in Focus Portal
Government instructs APRA to relax HECS considerations in mortgage serviceability tests
The government has announced changes to lending guidelines for Australians with Higher Education Loan Program (HELP) debts, to more easily secure a mortgage.
APRA has confirmed it will begin consulting on changes to the treatment of HELP debts in serviceability requirements and debt reporting. ASIC will also move to adjust its responsible lending guidance.
Banks commit to protecting regional services
The government has secured new commitments from major banks to maintain essential banking services in regional Australia, following a significant decline in branch numbers in recent years. Since 2017, 36 per cent of regional bank branches have closed, raising concerns about access to financial services in rural communities.
Home lending picks up as investor activity grows
Australia’s housing loan market grew in the December 2024 quarter, with the total value of new loan commitments reaching $87.2 billion, up 1.4 per cent from the previous quarter and 16.0 per cent higher than the same period in 2023, according to the Australian Bureau of Statistics (ABS).
Parliament passes Scams Prevention Framework
Assistant Treasurer and Minister for Financial Services Stephen Jones has announced the successful passage of the Scams Prevention Framework through Parliament.