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ANZ, Westpac find mortgages backed by dubious foreign income
Banks have stopped new loans to offshore customers who aren't citizens or don't hold appropriate residency visas
Add BT as a preferred sourcePublished Mon, May 9, 2016 · 09:50 PM
Sydney
TWO of Australia's largest lenders, which tightened home loans to some foreigners, said they uncovered mortgages backed by questionable overseas-income documentation.
Australia & New Zealand Banking Group Ltd and Westpac Banking Corp have identified issues with some loans that rely on foreign income for approval, the two lenders said in separate emails.
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