Home ownership needs to be made more affordable, one industry expert has said.
People are "needlessly being denied" the chance to buy Australian property while prices are continuing to climb, it has been claimed.
Lenders should be making more options available to potential Australian home buyers, said ING Direct chief executive officer Don Koch, and his firm is leading the way.
"There is an urgent need to provide more affordable options and borrowers should be able to choose whether they want to repay the capital, or not," he said at a retail lending conference.
To make Australian property ownership more affordable, the organisation is to launch an interest-only loan with no fixed-term or capital payment required, cutting repayments by thousands of dollars a year.
People looking to get on the Australian property market are urged to remain realistic in their expectations by Luci Ellis, head of financial stability at the Reserve Bank of Australia.
She called on borrowers not to rely on price increases and to plan their finances thoroughly.
Posted by David McElwain
People are "needlessly being denied" the chance to buy Australian property while prices are continuing to climb, it has been claimed.
Lenders should be making more options available to potential Australian home buyers, said ING Direct chief executive officer Don Koch, and his firm is leading the way.
"There is an urgent need to provide more affordable options and borrowers should be able to choose whether they want to repay the capital, or not," he said at a retail lending conference.
To make Australian property ownership more affordable, the organisation is to launch an interest-only loan with no fixed-term or capital payment required, cutting repayments by thousands of dollars a year.
People looking to get on the Australian property market are urged to remain realistic in their expectations by Luci Ellis, head of financial stability at the Reserve Bank of Australia.
She called on borrowers not to rely on price increases and to plan their finances thoroughly.
Posted by David McElwain
