Changes in the air - ANZ, Westpac et al

Exactly like I have called it many times... incremental tightening throughout the first half of 2016... and further in 2017 as they gear up for BASEL IV...

CBA will have to make some large changes... APRA cannot be happy with their efforts so far...

For most other lenders though - the changes from here on will be fairly modest ...most of the big lifting has been done. It will just be modest tweaking from time to time..

 

@Peter_Tersteeg recently posted a great expenses spreadsheet I believe supplied by NAB. I was quite suprised to see they had my wife and I expenses within $50.

Now I do tend to live on a fairly loose budget so I could easily skim a bit of this. That said I am sure many others live a more luxury lifestyle than me whilst others strict. So in essence it looks as though they aimed at the above average spender which IMO is about where they need to be. It would be silly of them to base it on bare essentials, fact is most people have car loans, CC's, eat out 2 nights a week, have Foxtel, unlimited phone and Internet plans, all insurances.etc

 

Maybe, but car loan and credit card repayments are covered in the calculator in another spot, so don't need to be counted in living expenses.
If you ask people, I bet almost everyone would be happy to give up eating out once a week and downgrading their foxtell subscription if it meant holding onto their home.
I cant see a legal case where a consumer sues a lender because they were under the impression they were allowed to keep their foxtel subscription instead of paying their mortgage....

 

All good - just another change to adapt to. That's post APRA life.

ANZ still have their place. Poor pricing and servicing - but awesome cashout at high LVR, etc

Cheers

Jamie