CCCFA and LVRs hitting first-home buyers hard

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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