Has the APRA credit tightening changed your buying plans?

Westpac has a massive imbalance of non resident and investment lending so they have gone hard on these 2 types of lending.

The beauty of Westpac's non resident lending has always been just their acceptance of more range of currency than other lenders.

There are other lenders though that will do non resident lending much better for example, CBA will do 95% if you are an expat (but crap servicing) or say NAB that accepts 100% of the income converted or Homeloans, Firstmac etc that take 90% of the income instead of 80%.

So the whole Westpac is excellent for non resident lending is a massive misconception (that even exists amongst brokers).

 

Big capital raising by ANZ which will dilute shareholder value slightly has seen all the big four decline. Solid earnings from NAB with a big drop in bad debts shows they are still doing well though.
I just hope there are no more nasty surprises around the corner