Changed mortgage rules limit your borrowing power

Mortgage borrowers can no longer respond to lower interest rates by taking out an even bigger mortgage. Banks and other lenders have slashed the maximum amount they'll lend many homebuyers by tens of thousands of dollars, by tightening loan criteria. If you can’t get a refinance deal from your lender, shop around and check out what other deals are around, today.

Source: bankheadlines.com.au

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