Aussie Home Loans chief foresees increased regulation oversight for banks

Font size :
Banks might face increased oversight from industry regulators in response to the “boom-time conditions” in parts of the Australian housing market, predicts new Aussie Home Loans chief executive James Symond. This is despite the recent slowing of lending to investors, he said.
 
Symond, the nephew of Aussie's founder and executive chairman John Symond, also said banks are becoming more cautious with higher-risk lending types including lending to owner-occupiers.
 
He also acknowledged interest rates “spur strong demand for loans”, Fairfax Media reported.
 
Symond added the growth in lending to property investors showed a slight easing and that even though banks were more cautious, “further levers” would still be imposed by regulators.
 
"I think the regulators have taken a keen interest in the mortgage industry, as they have in other industries, and I think that keen interest is only going to grow," said Symond.
 
"I think they will end up putting in some further levers in order to ensure there are appropriate boundaries within lending credit criteria, and governance that are even more responsible than they are today."
 
He was appointed chief executive last month for Aussie, which is 80% owned by the Commonwealth Bank.
 

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

CBA unveils new repayment simulator CBA unveils new repayment simulator

The simulator will show customers the differences between different types of repayments Read more

How to tell when a housing market is cooling How to tell when a housing market is cooling You need to check clearance rates, listings, and the price gap, among other factors ... Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

More mortgage news and articles

Sponsored Links

Tuesday, Sep 26, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords