In short:
Banks will be told not to count HECS-HELP and other student loans in debt calculations for home loans, and to disregard HELP repayments from serviceability assessments.
APRA will also update lending rules for housing developers to clarify that a block of units does not need to be fully sold off the plan to qualify for a loan.
What’s next?
The Coalition is mulling its own move on lending requirements, with a proposal soon to come before shadow cabinet.
Yes, but it still means you have less cash in hand than if you didn’t have it, so it definitely should affect your borrowing ability.