A major change from NAB will soon allow some customers with outstanding student debt to enter the property market or buy a new home sooner.
From 31 July, NAB will make it easier for some customers to obtain a home loan if they have a HELP (Higher Education Loan Program) debt of up to $20,000 or less.
For those applicable, the debt will not be included in NAB’s home lending assessment.
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The bank said the change is especially designed to enable first home buyers to get into the property market, making HELP debt less of a barricade.
NAB executive for home ownership, Matt Dawson, said for too long, student debt has been a roadblock for many…