Westpac Banking Welcomes Changes to Home Lending Rules in Australia

MT Newswires Live

Feb 12, 2025

Westpac Banking (ASX:WBC, NZE:WBC) welcomed changes to home lending regulations in Australia and said that it would implement changes once it received revised guidance from regulators, according to a Wednesday press release.

The clarification on pre-sale requirements would offer greater certainty to move quickly on developments and construction, according to the bank's chief executive Anthony Miller.

Changes in the treatment of HELP loans in serviceability assessments would help assist aspiring home buyers as well, he added.

The bank had earlier sought greater flexibility with risk treatment in property construction to address regulatory barriers that could hinder its ability to lend within its risk appetite.

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