Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 4BC account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 4BC content and other benefits.


Joining is free and easy.

You will soon need to register to keep streaming 4BC online. Register an account or skip for now to do it later.

Advertisement
Advertisement
Advertisement

EXCLUSIVE | ANZ overhauls home loan approvals

Article image for EXCLUSIVE | ANZ overhauls home loan approvals

ANZ bank has said it will no longer lend to people who have a debt to income ratio greater than nine times.

Money News obtained a document showing ANZ will not lend to customers with extremely high debts.

Under the new policy customers with a debt to income ratio greater than nine times will be rejected.

For example, if a customer’s gross income is $100,000, they will automatically be rejected if they apply for a loan of more than $900,000.

Already, banks including the Commonwealth Bank say any loan with a loan to income ratio of more than seven times must be manually approved.

ANZ general manager of home loans John Campbell tells Ross Greenwood the policy will protect the customer.

“There are very, very, few instances where customers actually get anywhere close to being nine times geared.

“The bulk of the loans that come through our applications are at levels way, way, below that nine threshold.”

Click PLAY below to hear the full interview

Deborah Knight
Advertisement