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MELBOURNE, AUSTRALIA, November 16, 2021 /24-7PressRelease/ -- Under the new regulations, banks must increase their minimum interest rate buffer on home loan applications from 2.5 to 3 percentage points. While applicants with sufficient financial strength may continue to borrow at the same rate, others are likely to experience reduced borrowing power. And, for first home buyers, it could become increasingly challenging to enter the property market.
However, non-bank lenders like Liberty who have their own bespoke risk-based credit assessment system remain unaffected and continue to offer competitive home, car, personal, business and commercial lending options.
As one of Australia's leading non-banks, Liberty is accustomed to supporting borrowers with different financial circumstances and can provide flexible solutions tailored to their individual needs.
While the change reflects a desire to protect borrowers by ensuring they can manage potential interest rate increases, Liberty's innovative protocols already take this into account. With highly tailored home loan assessments, Liberty aims to give borrowers greater mortgage flexibility and provide more ways to get financial.
Recognising that no two borrowers are alike, Liberty takes the time to assess each loan application individually and focuses on the bigger picture. For those who may not fit the traditional lending criteria, a more personalised assessment from a lender like Liberty can have a significant impact on the success of their application.
As advocates for financial inclusion, Liberty strives to find ways to support borrowers unable to secure a loan from a bank in a way that is safe, measured and fair. And, with online indicative pre-approval for a range of home loan solutions, Liberty can support you to explore your options and help you find the best solution to achieve your financial goals.
Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial.
Group Manager – Communications
P: +61 3 8635 8888
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