On Nov. 12, NAB will also halve its discount on rental income to 10%, including for Airbnb-like short-term rentals, the sources said.
ANZ "acts diligently and prudently in setting our risk appetite and policy," a spokesperson said in an email. The Reserve Bank of Australia has repeatedly said this year that, while broader financial stability risks are low, it is important for lenders to maintain prudent lending standards.As seven interest rate rises applied since May take heat out of one of the world's most expensive real estate markets, Australian banks have been fighting to grow their shares of a loan pool that has long been the engine room of their earnings.
"With interest rates and cost of living increases, banks should be taking more care than ever to ensure they are not writing unaffordable mortgages that set people up to fail," he added, commenting on the changes to assessment of rental income.
That worked out well in the US. I wish them the best…..