St George Banking Group makes changes to serviceability assessment
St George Banking Group makes changes to serviceability assessment
MPA Lender Update is your same-day product information service, bringing together updates from all lenders
RATES
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No changes today
PRODUCT
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No changes today
POLICY
- St George Banking Group adds basic living expenses to servicability calculations, which also include HEM figures, effective 17 August 2015.
- HEM figures are themselves changing to take into account household income in addition to other factors to effective 17 August 2015 and applicable to all secured residential lending assessments.
- St George Banking Group reduces the maximum interest only repayment period from 15 years to 10 years for new owner occupied loans, effective 17 August 2015.
COMMISSIONS
• No changes today
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