The Real Estate Institute of Queensland (REIQ) is welcoming the Federal Treasurer\u2019s move to improve access to home loans for young Australians with student debt and finance for small developers falling short of a perfect, 100 per cent pre-sales uptake.<\/p>\n\n\n\n
REIQ CEO Antonia Mercorella welcomed the new APRA\/ASIC guidance which would exclude HECS\/HELP debts from bank\u2019s mortgage serviceability assessments in certain circumstances, while still maintaining strict responsible lending protections.<\/p>\n\n\n\n
\u201cWe support this reform which will boost the borrowing capacity of Australians with student loan debt and trust that it will aid first home buyers in taking that crucial first step onto the property ladder,\u201d Ms Mercorella said.<\/p>\n\n\n\n
\u201cThis change aligns with the REIQ\u2019s ongoing advocacy to enhance homeownership opportunities across Queensland.<\/p>\n\n\n\n
\u201cIt\u2019s a step in the right direction to help first home buyers overcome the significant hurdles they face in today\u2019s market and economy.\u201d<\/p>\n\n\n\n
APRA\u2019s mortgage serviceability assessment examines whether a borrower can maintain loan repayments if the RBA raises the cash rate by an additional 3 percentage points, beyond its current rate of 4.35 percent.<\/p>\n\n\n\n
Ms Mercorella said while a rate cut was being largely tipped ahead of the Reserve Bank\u2019s meeting next week, she reminded borrowers to always apply a degree of caution when taking on a mortgage.<\/p>\n\n\n\n
\u201cEven with a potential rate cut on the horizon, it\u2019s essential for borrowers to approach home loans with caution,\u201d she said.<\/p>\n\n\n\n
\u201cWhen taking out a loan, it\u2019s important to not just think about what interest rates are today but consider whether you\u2019re going to be able to service that mortgage in the event that interest rates go up.<\/p>\n\n\n\n
\u201cIt\u2019s easy to get swept up in the excitement of buying a home, but it\u2019s important to think realistically about what you can manage long-term so that you are able to service that mortgage even if interest rates change or your personal circumstances shift.\u201d<\/p>\n\n\n\n
ENDS<\/strong><\/p>\n\n\n\n <\/strong>Media enquiries: The Real Estate Institute of Queensland (REIQ) is welcoming the Federal Treasurer\u2019s move to improve access to home loans for young Australians with student debt and finance for small developers falling short of a perfect, 100 per cent pre-sales uptake. REIQ CEO Antonia Mercorella welcomed the new APRA\/ASIC guidance which would exclude HECS\/HELP debts from bank\u2019s mortgage serviceability assessments in certain circumstances, while still maintaining strict responsible lending protections. \u201cWe support this reform which will boost the borrowing capacity of Australians with student loan debt and trust that it will aid first home buyers in taking that crucial first step onto the property ladder,\u201d MsRead More →<\/a><\/p>\n","protected":false},"author":1287,"featured_media":4698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mbp_gutenberg_autopost":false},"categories":[53],"tags":[],"_links":{"self":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/4697"}],"collection":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/users\/1287"}],"replies":[{"embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/comments?post=4697"}],"version-history":[{"count":1,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/4697\/revisions"}],"predecessor-version":[{"id":4699,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/4697\/revisions\/4699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/media\/4698"}],"wp:attachment":[{"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/media?parent=4697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/categories?post=4697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/tags?post=4697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/strong>Claire Ryan, Media and Stakeholder Relations Manager, The Real Estate Institute of Queensland
M: 0417 623 723 E: media@reiq.com.au<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"