The end of financial year is already upon us, which in our opinion, makes it a great time to review how Australian borrowers have fared over the past 12 months. Not to mention, what’s in store for next financial year.
The 2014/15 Financial Year in focus
Big things happened in Australian finance during the 2014/15 financial year. Here’s what made our top 5:
The Australian Prudential Regulation Authority (APRA), which regulates banks, credit unions, and other financial institutions, has cracked down on interest-only home loans in Australia. APRA made the announcement to the banks on March 31.
Our latest blog explains why APRA has done this, and what the move means for borrowers.