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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the latest in property, including the much-talked-about use of macro-prudential measures to cool the rapidly expanding market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about soaring ETFs, what they are and why young investors, in particular, are jumping onboard their latest surge. Dr Zhong also takes a closer look at BNPL platforms.

And lastly, tax and super guru Timothy Munro gives his thoughts on Prime Minister Scott Morrison’s choice to backtrack on any further SG changes and looks at the impending end of the low and middle income tax offset.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-04-20 07:06:30" ["slug"]=> string(120) "16662:is-the-market-overheating-should-etfs-take-your-fancy-and-what-s-happening-to-the-low-and-middle-income-tax-offset" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(133) "/resources/podcast/is-the-market-overheating-should-etfs-take-your-fancy-and-what-s-happening-to-the-low-and-middle-income-tax-offset" ["image"]=> string(58) "images/podcasts/Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

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Borrow

Responsible lending rollback won’t boost lending activity

By Grace Ormsby

October 02 2020
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Borrow

Responsible lending rollback won’t boost lending activity

By Grace Ormsby
October 02 2020

The rollback of Australia’s responsible lending laws will make little difference to the borrowing habits – and borrowing power – of individuals and businesses, according to an expert in the space.

Responsible lending rollback won’t boost lending activity

By Grace Ormsby

October 02 2020
Share

CEO and founder of debt and wealth management advisory DG Institute, Dominique Grubisa, has forecast that the deregulation of borrowing laws will not boost the economy as is hoped.

“My experience is that individuals and businesses have not been trying, and are not looking, to borrow right now,” she said.

Instead, Ms Grubisa has observed that people have been taking advantage of low-interest rates to pay down debts faster, with those who have been successfully doing this creating savings.

“Much like the government-backed unsecured and low-rate loans, and the instant asset write-off, I predict these reforms will see very little take-up,” she continued.

And despite the perceived ease with which banks predict to now be able to offer loans, the CEO predicts that the actual effect will also have little impact on decision making by banks: “Lenders will continue to be cautious, due to existing impaired loans. Banks are currently valuing properties low, checking serviceability and factoring in buffers such as job losses.”

“Lenders are expecting delinquent debt to hit the fan soon,” she highlighted.

She noted that over the last six months alone, banks have deferred around $500 million home loans, worth over $190 billion. That’s equal to one in 10 borrowers.

Even though banks have the discretion to continue deferrals for an additional four months, Ms Grubisa is not of the opinion that they will be willing to, meaning many mortgagors who are struggling with their repayments will be required to sell their property.

“We may have a tsunami of loans defaulting,” she forebode.

“With the existing regulations in place, households that want to borrow can still borrow. Under the reform, people who currently don’t qualify for loans – who have bad debt or a bad credit rating – will never qualify.”

nestegg has previously considered the winners and losers of the reform.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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