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Banks dial back COVID-19 caution as economy improves – The Sydney Morning Herald

Banks are being less conservative in assessing home loan customers as the economy recovers from recession.

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Leading mortgage brokers say banks are cautiously taking the brakes off home lending and removing extra checks on borrowers that were introduced at the height of the coronavirus pandemic.
The trend comes amid an ongoing surge in new lending, but brokers say they are not seeing a rise in high-risk borrowing, and nor do they believe regulatory caps on home lending will be introduced anytime soon.
The red-hot property market has put bank lending standards under the microscope of regulators.Credit:Brent…

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