CCCFA and LVRs hitting first-home buyers hard

Staff reporters
Tue, 25 Jan 2022

Most mortgage brokers are reporting banks are less willing to lend because of changes to the Credit Contracts and Consumer Finance Act (CCCFA) from Dec 1 last year.In economist Tony Alexander's latest survey of 69 mortgage brokers, 83% said the changes to the act are making it extremely difficult for would-be borrowers.While first-home buyers were less averse to buying a property, with a net 52% of brokers reporting seeing fewer of them, down from a net 75% last month, those with less than a 20% deposit are finding it more difficult to borr...

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