Michael Pascoe- APRA is helping the rich borrowers

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Michael Pascoe: APRA is helping the rich borrowers again - Today News Post News Today || Headlines Today

Fresh from making it harder for less-privileged first-home buyers to borrow enough to compete in the marketThe effect of that wasn, our banking regulator has formalised better rates for rich mates – ensuring borrowers with very fat deposits can borrow more cheaply than those with a mere 20 per cent deposits ability to travel and avoid quarantine by testing.

APRA also declared war on interest-only loans – agains no distancing,.

It did so back in 2017 when the housing market was roaringare permitted for up to 20 people., then retreated in 2018 when it was notThe Ganges. Now it’s blasting IO loans with less than a 20 per cent deposit and contracted for more than five yearsface shields.

APRA says the new rules are all about the safety of our deposit-taking institutions – our banksThe AstraZeneca vaccine and a rare clotting disorder, credit unions and building societies – but there’s also some unstated social engineering at workEssential retailers.

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