Episode 8 – Do the Lending Criteria Changes Affect Expat Australians?
Welcome to the eighth episode of the Expat Mortgage Podcast where we discuss the latest issues of securing and maintaining an Australian mortgage whilst you are a Australian expat.
In a rapidly overheating property market many Australian and international government bodies are worried about the long term sustainability of what is the largest asset class for many Australians.
Recently the Australian Prudential Regulatory Authority (APRA) instructed Australian banks to lift the assessment rate when reviewing Australian mortgage applications from 2.50% to 3.00% in what many experts agree will be the first of many moves to cool down the property market.
In this episode we run through who APRA is, what are the changes to the lending criteria and will it affect expat Australians, has APRA done this in the past and what were the results and many more points.
Discussion Points on Todays Podcast Episode
In this episode we run through the recent announcement by the Australian Prudential Regulatory Authority (APRA) instructing Australian Banks to amend the assessment rate and discuss the following key points:
- What is the assessment rate?
- How does a move from 2.5% to a 3.0% affect mortgage applications?
- What does a Australian expat applying for a loan need to consider?
- Are there more changes to the assessment rates forecast and will this affect Australian expats?
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The Expat Mortgage Podcast is all about helping Australian expats secure and maintain a Australian mortgage whilst they’re living and working overseas.
This podcast is brought to you by Atlas Mortgages which is part of the Atlas Wealth Management Group who is the leading provider of Australian expat financial services.
Atlas Mortgages works with Australian expats in over 30 countries and we make it our job to speak to 30 Australian Mortgage Lenders and review over 500 Australian Mortgage products to ensure that not only can you that mortgage as a Australian expat but also provide you with a loan that is right for you and your circumstances.
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