Lender

Australia’s largest mortgage lender is considering an expansion of its loan relief program to enable borrowers to secure interest-only terms of up to 12 months.

A Sydney-based brokerage has seen a 50 per cent rise in enquiries from home loan applicants that had been previously rejected by lenders because of changes in circumstances due to COVID-19

The COVID-19 crisis will bring to light the effectiveness of principles-based responsible lending guidance, according to ASIC chair James Shipton.   

The major bank has introduced changes to its interest-only offering to assist borrowers seeking repayment relief amid the COVID-19 crisis.

The non-major is expected to announce new collective provisions associated with heightened credit quality risks from the COVID-19 crisis.

The big four bank has decided not to extend its LMI contract with Genworth in a bid to “simplify” its home lending business.

Virgin Money has announced that it has lowered new variable home loan rates and increased its cashback offer to $2,500 on new eligible refinance loans.

The big four bank has announced several executive changes, including the departure of the chief executive of its consumer banking division.

Auswide’s bid to acquire a Queensland-based lender has been rejected by the group’s board. 

The “extremely uncertain” housing market outlook is set to trigger a “collapse” in demand that could last until late 2021, according to ANZ Research.