From The Australian:
The banking regulator spurred the recent crackdown on mortgage lending to foreigners by the banks, analysts claim, a fresh sign of officials’ concern about the growing glut of apartments.
As Citi and ING Direct yesterday confirmed they had tightened lending to apartment buyers, Stewart Oldfield of Field Research told clients that the prudential regulator was the “inspiration” behind the major banks’ recent announcements that they had curbed lending to foreigners without domestic incomes.
