Simpler lending rules for home loans

Simpler lending rules for home loans and credit to free up the economy Customers will be promised faster access to loans under simpler rules that aim to free up credit and lift the economy by ending confusion over lending obligations for banks and finance companies. Treasurer Josh Frydenberg will overhaul the laws governing mortgages, personal loans, credit cards and payday lending to streamline decisions on whether customers can afford the loans they seek. Treasurer Josh Frydenberg will overhaul bank lending rules to make it simpler to decide mortgages and credit card lending.CREDIT:ALEX ELLINGHAUSEN The changes respond to growing concerns over court disputes and the duplication of regulators in home and personal lending, sparking fears that restrictive rules on credit would curb economic growth. With the government preparing to unveil tax cuts and spending measures in the October 6 budget, the lending reforms are intended to improve access to credit fro…
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