How are lenders changing their policies in response to COVID-19?
As Australia’s governments and lending institutions continue to respond to the impacts of COVID-19, a number of banks have begun to implement increasingly stricter lending policies when it comes to assessing borrowers’ eligibility for refinances, home and investment loans.
Momentum Wealth’s Finance Team Leader, Caylum Merrick, joined Client Advice Manager, Emma Everett, to discuss how these shifts are impacting borrowers and advice for both existing and aspiring investors on how to stay ahead of the latest changes.
- Why are banks becoming stricter with their lending policies?
- Which borrowers are being most impacted by the changes?
- What changes are banks making to their lending processes in response to the COVID-19 pandemic?
- What has been the main focus for brokers during the COVID-19 pandemic?
- What opportunities should borrowers be looking at, and how can they take advantage of them?