28 Apr 2020

Banks ask borrowers increasingly tough questions

From Nine To Noon, 9:44 am on 28 April 2020
What's the clever move to make with your mortgage?

Photo: fantasista/123RF

The largest mortgage broking business in the country says banks are asking borrowers tougher questions, requiring much more detailed information and in some cases, refusing loans because borrowers' jobs or incomes are uncertain.
Loanmarket has 140 mortgage broking franchises around the country and last year wrote $18 billion in mortgages.

Kathryn talks with Director Bruce Patten and Chief Executive of the Real Estate Institute, Bindi Norwell.