Home ownership will be made easier for Australians with outstanding student debt after financial regulators promised to update their guidance on lending restrictions.
Regulators ASIC and APRA have agreed to clarify their guidance to lenders, along with reducing serviceability and reporting requirements in for HECS debts, at the request of Treasurer Jim Chalmers.
The “commonsense clarifications” would help more Australians into a home, Dr Chalmers said.
“People with a HELP (HECS) debt should be treated fairly when they want to buy a house and we’re working with the regulators to make sure they are,” he…
