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Jim Chalmers tells regulators to relax rules around HELP debts in mortgage applications
Banks will be allowed to overlook HECS-HELP and other student loans in debt calculations for home loans, under a federal government push that could boost the borrowing power of some first home buyers.
Updated guidance from financial regulators APRA and ASIC, made at the request of Treasurer Jim Chalmers, will also tell banks they can disregard HELP repayments when assessing an applicant's ability to service their mortgage if they are due to pay off the debt in "the near term".
Mr Chalmers said the clarifications were "common sense" and would "help more Australians into a home".
Can we rely on politicians to solve the housing crisis?
A solution to the housing crisis could be just years away. Can we rely on politics to deliver it?
"We're tackling this housing challenge from every possible angle. People with a HELP debt should be treated fairly when
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Testo di Life's Been Good di Joe Walsh
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