The Coalition has promised to relax home lending rules, saying that it will help more young people buy their own home.
To do so, it has promised as an election pitch to direct the banking regulator to lower the serviceability buffer from the current 3 per cent. Shadow housing minister Michael Sukkar announced the policy this week, saying the serviceability buffer for new home loans should be set at 2.5 per cent, because too many home-buyers were failing to meet the 3 per cent requirement.
