ASIC Orders Banks to Relax Rules That Restricted Older People From Borrowing

Commissioner Peter Boxall said some lenders were “adopting an unnecessarily restrictive approach to meeting the responsible lending requirements” adding ASIC was concerned by “reports of older borrowers whose employment will reduce, or cease, before the end of the loan term being refused loans”.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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