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ISCOVER
Staff Reporter
Higher funding costs will continue to force Australia’s banks to tighten their lending standards, a UBS report has revealed.
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According to the report, Australia’s leading lenders are starting to reduce their mortgage discounting and insert stricter collateral requirements.
“The banks indicated that consumer underwriting standards have been tightened for the first time since 2010,” UBS analysts Jonathan Mott and Chris Williams said in the report.
“Underwriting standards have stopped being loosened in mortgages and have been tightening somewhat in cards and personal lending.”
