Are banks and lenders red flagging your postcode?
National Australia Bank has red-flagged 40 Australian postcodes where loans have a higher risk of default. The risky towns and suburbs are areas that rely on a single industry or have high unemployment or are places where property prices have risen too high. In those 40 hotspots, NAB is looking more closely at loan applications and demanding an increased level of equity in the property.
NAB would not reveal which postcodes are on its watchlist.
Source: The Age