You can now wipe any mention of your HELP student debt from your mortgage application – but one expert argues it’s not going to help first homebuyers get into the market.
Federal treasurer Jim Chalmers has announced “commonsense changes” to the way banks assess your home loan application, giving you the freedom to remove any mention of your HELP student debt from your file.
“Currently, a barrier for young Australians to get into the housing market is the reluctance of banks to give them a mortgage,” Chalmers announced.
“Financial regulators will update their guidance to make it easier for Australians with a HELP debt to responsibly take out a mortgage and buy a home, and also unlock the construction of…
