Brokers expect more postcode crackdowns

Brokers expect more postcode crackdowns

Brokers expect more postcode crackdowns

Brokers expect more postcode crackdowns

Brokers expect more postcode crackdowns teaser

EXCERPT

Mortgage brokers are in no way shocked by tighter credit controls on certain suburbs announced by one major bank this week, which they expect will continue into 2017 and beyond.

Media reports over the weekend revealed that NAB had compiled a “blacklist” of more than 100 postcodes across the country where buyers will need to pay as much as a 30 per cent deposit to secure a mortgage.

Suburbs in Western Australia copped the worst of the lending curbs as the major bank looks to reduce its exposure to regional areas where residential property values have been hit hard by the mining downturn.

Perth-based broker Bianca Patterson of Calculated Lending, who was crowned Broker of the Year at the 2014 Better Business Awards, said the postcode blacklist is a hot topic among mortgage professionals in Western Australia right now.

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