I wonder how big the problem really is….do you think the banks really can ell and are just shuffling paper to make their numbers work?
Shuffling I think.
Banks are keen to balance their numbers so many are just changing exising investment loans over to O/O without any proof. Borrowers are wanting to get lower rates so are keen to say what the banks want to hear. This then makes banks look better in the eyes of apra
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Cheeky banks, how could they ever be dishonest???
BuyersAgent | Precium
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I see an APRA report released yesterday suggest the issue might be as much as a $50B (Yes billion not million) dollar mistake.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
as much as a $50B (Yes billion not million) dollar mistake.
Could it really be that high….?
If it is there must be a heck of a lot more “renters” than people realize.
Lol its almost like every second person is a landlord……
APRA are to come down hard on this.
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