For many young people with a student loan, it’s a struggle to get a mortgage signed off towards home ownership and the housing crisis hasn’t made this easier. But new government changes might finally be addressing this issue.
The government has announced it is working with financial regulators to update their guidance on how HELP (Higher Education Loan Program) debts affect home loan applications and this could hold big implications for young Australians still paying off debt from their uni days.
Curious about what this means for you? Here’s everything we know.
So what exactly is changing with mortgages?
Two leading financial regulators — the Australian Prudential Regulation Authority (APRA) and the Australian…
