The Government wants to make it easier for you to get a mortgage — but there's a catch

"As Australia continues to recover from the COVID-19 pandemic, it is more important than ever that there are no unnecessary barriers to the flow of credit to households and small businesses," he said.

The coronavirus crisis has seen hundreds of thousands of cash-strapped Australians defer their mortgages,As a result, the housing sector has been calling for the guidelines governing bank loans to be relaxed, arguing that will help the economy recover much faster. Reserve Bank governor Philip Lowe has also weighed into the debate, telling a parliamentary committee last month the legislation needed to be examined again.

Among the range of factors contributing to the global financial crisis was that banks and other lenders were willing to make increasingly large volumes of risky loans for a range of reasons.

Source: Loan Digest (loandigest.net)

Slippery slope for Australia ahead

look, you lot tried that already, and now the median income can't afford the median house, money is free, and the banks (whether or not they launder money for paedophiles) need massive government assistance not to collapse from the mass of the existing bad debt.

Wasn't the ease of getting a mortgage one of the things that was identified as problematic after the GFC?

Just like the government wants you to renovate your home, but the catch is no-one is eligible.

what happened to 'let the market decide' mantra? Where are all the jobs coming from to service these repayments? This really just reeks of yet another scam brought on by fed govt to undermine Australians yet again and socialise the fallout WAKE UP AUSTRALIA

This has GFC vibes.

Gee, what can go wrong here? How on earth does this change address any of the adverse findings of the Royal Commission

Garbage. There is nothing this government does for the benefit of regular Australians. Everything is for the wealthy.

Federal government wants you to pay a mortgage come December on $40 a day if you are one of the over 1.5 million unemployed

A New Robodebt ? AuspolSoCorrupt

here's the view, Australians freely voted in a cult member from a religious cult that was founded on Pedophilia, that about sums up the Australian people

Increase of income Phone and internet service providers 200% ? Since pandemic, NBN gets upgrade. USATODAY we need to do more than encourage eligible to vote. Citizenry digital participation in promulgation, of either state or federal govt buisness, is a pipeline gusher UN

this will be like the GFC where banks lend out some much money prices will pushed up at cause a major financial collapse...

lol so the government is saying people should LIE on their loan applications to get the house they want so that they are liable when they can't repay it? Our government cares about us so much!

Central system coming in . Beware !!

There would be!

Let’s keep pumping asset bubbles

Because this kind of thing worked like a charm in Europe and the US, amirite?

Interesting.

Let's manipulate the market and artificially prop up housing costs. Never ending story.

Sounds like Gesara to me... the storm is coming

It sounds like something to protect banks, not help people get into a home loan.

Cant wait to get in debt slavery for 40 years to appreciate the property values of jews boomers and Chinese

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