Proposed Changes to Responsible Lending Laws in Australia – A Shift of Responsibility From Lender to Borrower

Proposed changes to responsible lending regulations hit the Australian federal Senate the week before last. Since the 2008 – 2009 Global Financial Crisis, Financial regulation and responsible lending laws have been largely combative, with inflamed tensions between bankers and lawyers. The reforms were first announced in September 2020, in the hopes of boosting Australia’s credit…

mortgage lending

New Mortgage Lending Hits £530million

The Co-Operative Bank has revealed that new mortgage lending has reached £530 million during the third quarter of 2020.  The bank also announced that net residential lending had hit £242 million whilst net SME lending was at £225 million and Bounce Back loans and the Coronavirus Business Interruption Loan Scheme (CBILS) were reported to have…

lenders

Lenders warned as repossessions restart

Lenders across the UK have been warned to ‘go easy’ on homeowners as repossessions restart following a period of halt.  Lenders have been warned by the Financial Conduct Authority (FCA) that they must treat the 1.8 million homeowners who have taken out a mortgage holiday over the past few months fairly.  Director of Consumer and…