Via the AFR:
ANZ has increased rates on its fixed interest in advance loans by eight basis points, or about $800 a year in extra annual interest on a $1 million loan…The bank, which is the most dependent of the major banks on brokers for distributing mortgages, is circulating “policy updates” about minimum evidence of borrowers’ income requirements needed to qualify for a loan.
…[NAB] has reduced loan-to-income ratios from eight-times to seven, a full percentage point change following the introduction of the benchmark last September.
