Just a few days after ANZ Bank issued a media release warning the market of higher bad debts, ANZ has followed the other big banks and informed mortgage brokers that it will tighten lending criteria on mortgages from next month by taking a tougher stance on borrowers’ expenses. From The Canberra Times:
What the bank views as a “minimum” living expense will depend on the borrower’s income, the number of dependants they have, and whether the application is for a joint or individual loan.
