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Bank bans homes as commercial loan security

In a sign of growing anxiety about Australian house prices, a prominent bank has said it will no longer accept residential property as loan security on a “stand alone basis”.

Bank bans homes as commercial loan security
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ING made the announcement in a note to mortgage brokers and lending managers this week, with the change to be effective on applications received from this Friday, 19 January 2018.

Read the full article on My Business.

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