Mortgage lending changes - reduced amortisation period
June 21st, 2012Federal Government Changes to Mortgage Lending
For the fourth time in as many years, the Federal Government has announced action to restrict mortgage credit. The new measures include:
- The maximum amortization on a prime mortgage will be reduced from 30 to 25 years.
- Mortgage insurance will not be provided for properties valued over $1 million.
- Refinancing has been lowered from a maximum o ...
