‘It’s ridiculous’: 27 days before bank picks up home loan application

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“The new [CCCFA] rules are fairly tight and there’s much less flexibility or room for lender discretion than was previously the case. For example, you might need to provide evidence of recent transactions so your bank can get a clear idea of your debts and expenses. This means it will take longer to get a loan, and more applications may be declined because the deeper dive into your finances might show you’re less able to repay the loan.”

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