Latest news with #MattDawson
Yahoo
14 hours ago
- Business
- Yahoo
Bank removes ‘roadblock' for homebuyers
National Australia Bank has become the latest lender to ignore some Higher Education Loan Program debt when assessing new home loans. From July 31, NAB says if someone owes $20,000 or less in student debt, it won't affect how much they can borrow should they take out a new loan with the big four bank. This will help lift the borrowing capacity of a potential borrower, as banks consider income, liabilities and outstandings when calculating how much they will give a potential borrower. NAB executive for home ownership Matt Dawson said the change would make a real difference for first-home buyers especially. 'For too long HELP debt has been a roadblock for many Australians looking to buy a home,' Mr Dawson said. 'NAB was pleased to advocate for this change last year which will allow more people to turn their homeownership dreams into reality, faster.' The NAB move is in line with the Commonwealth Bank, which in April said it would exclude HELP debt from home loan serviceability calculations on the basis the applicant could pay off their debt in the next 12 months. CBA also said it was piloting plans for those who could pay off HELP loans over the next one to five years. In February, student debt came into the spotlight when Treasurer Jim Chalmers told the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority (APRA) to update their guidance on how banks should treat student debts. In June, APRA said the changes would come into effect from September 30 2025. While NAB welcomed the move by the regulator to increase buying capacity for homebuyers by clarifying the treatment of HELP debt, Mr Dawson said housing supply remained the most significant challenge. 'It is critical to address both demand and supply-side measures together to help more Australians buy a home. There's no simple fix, solving Australia's housing challenges will take collaboration across the board.' NAB's move comes after the Albanese government announced changes to HELP debt on Wednesday. In its first Bill since returning to office, the government plans to slash 20 per cent off three million graduates' HELP debt. This is the equivalent of $16bn in total relief, according to the government. The move targets HELP debt, VET loans and apprenticeship loans. Calculations released by the government show $5520 would be wiped off the average HELP debt of $27,600 if the legislation passes. The changes would also raise the minimum threshold for student loans to be repaid from $54,000 to $67,000.
News.com.au
15 hours ago
- Business
- News.com.au
NAB removes HECS debt hurdle for mortgage seekers
National Australia Bank has become the latest lender to ignore some Higher Education Loan Program debt when assessing new home loans. From July 31, NAB says if someone owes $20,000 or less in student debt, it won't affect how much they can borrow should they take out a new loan with the big four bank. This will help lift the borrowing capacity of a potential borrower, as banks consider income, liabilities and outstandings when calculating how much they will give a potential borrower. NAB executive for home ownership Matt Dawson said the change would make a real difference for first-home buyers especially. 'For too long HELP debt has been a roadblock for many Australians looking to buy a home,' Mr Dawson said. 'NAB was pleased to advocate for this change last year which will allow more people to turn their homeownership dreams into reality, faster.' The NAB move is in line with the Commonwealth Bank, which in April said it would exclude HELP debt from home loan serviceability calculations on the basis the applicant could pay off their debt in the next 12 months. CBA also said it was piloting plans for those who could pay off HELP loans over the next one to five years. In February, student debt came into the spotlight when Treasurer Jim Chalmers told the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority (APRA) to update their guidance on how banks should treat student debts. In June, APRA said the changes would come into effect from September 30 2025. While NAB welcomed the move by the regulator to increase buying capacity for homebuyers by clarifying the treatment of HELP debt, Mr Dawson said housing supply remained the most significant challenge. 'It is critical to address both demand and supply-side measures together to help more Australians buy a home. There's no simple fix, solving Australia's housing challenges will take collaboration across the board.' NAB's move comes after the Albanese government announced changes to HELP debt on Wednesday. In its first Bill since returning to office, the government plans to slash 20 per cent off three million graduates' HELP debt. This is the equivalent of $16bn in total relief, according to the government. The move targets HELP debt, VET loans and apprenticeship loans. Calculations released by the government show $5520 would be wiped off the average HELP debt of $27,600 if the legislation passes. The changes would also raise the minimum threshold for student loans to be repaid from $54,000 to $67,000.
Yahoo
17 hours ago
- Business
- Yahoo
Major Aussie bank's huge $20,000 HECS change for borrowers
NAB has joined Commonwealth Bank in relaxing its borrowing rules for people who have a HECS-HELP debt. The federal government asked banks and financial regulators to ease rules earlier this year to make it easier for those with student loans to get a mortgage. From July 31, NAB has announced that having a student debt of $20,000 or less will no longer affect how much you can borrow for a home loan. That change means Aussies with a HECS-HELP debt could see a boost to their borrowing power. NAB executive for home ownership Matt Dawson said the change would mean more people would be able to own a home faster. RELATED Major update on $5,520 HECS cash boost for millions to lift them out of 'lifetime of debt' The top 10 highest salaries in Australia paying up to $700,000 Centrelink's 'balancing' move could provide cash boost or expose debt 'For too long, HELP debt has been a roadblock for many Australians looking to buy a home,' he said. 'From 31 July, some HELP repayments won't be part of NAB's home lending assessment, so customers can hit the real estate market sooner.' Commonwealth Bank became the first of the Big Four banks to relax rules around student debts in April. The major bank no longer considers HECS debts as part of its serviceability assessments if the debt will be repaid within 12 months. For borrowers with HECS debts due to be repaid within the next five years, the bank is piloting dropping the serviceability buffer to 1 per cent from the current 3 per cent. The serviceability buffer is set by the Australian Prudential Regulation Authority (APRA), with the regulator confirming this week it would remain at the current 3 per cent. That means a lender will normally assess if you can repay a loan at an interest rate 3 per cent higher than current levels. If you were looking at a mortgage with a 6 per cent interest rate, you would need to be able to repay it at 9 per cent. The buffer was previously increased from 2.5 to 3 per cent in October 2021 to protect borrowers when the cash rate was at a rock bottom of 0.1 per cent. How does HECS debt impact home loans? HECS-HELP debt is usually taken into consideration by lenders when assessing your borrowing power. NAB gave an example of how HECS-HELP debt could impact loan calculations, which was submitted to the Senate inquiry in September last year. For a borrower earning $125,000 with average expenses, a credit card with a $5,000 limit and average HECS-HELP debt of $26,500, NAB said the borrowing amount under settings at the time would be $497,000. If the HECS-HELP debt was removed, the maximum borrowing amount would rise to $587,000, a difference of $90,000. HECS debt relief coming for Aussies Labor introduced a bill to slash all HECS HELP debts by 20 per cent this week, following through on a major election promise. The change will impact about three million Australians and means someone with the average HECS debt of $27,600 would see a $5,520 reduction to their debt. This will be backdated to June 1, before this year's indexation was applied. The reform will also raise the threshold at which people need to start repaying their debt from $54,435 to $67,000 and reduce minimum in to access your portfolio
BBC News
15-07-2025
- Sport
- BBC News
'You are in so much trouble' - Dawson on his 2001 Lions diary
Former England scrum-half Matt Dawson was nearly sent home in disgrace from the 2001 British and Irish Lions' tour because of scathing comments he made about the squad's wrote a tour diary for the Daily Telegraph while in Australia and, in an article published on the morning of the first Test, was highly critical of head coach Graham Henry, saying he did not inspire him and his regime was too strict."I was so far up my own backside and I really, really regret it as it was so unnecessary, thinking I was better than I was," he said. "It was petulant really."Dawson recalls the full story on the BBC's Rugby Union Weekly podcast, where he joined former Lion Jamie Roberts to discuss the British and Irish Lions' top 10 most controversial moments. 'It is unacceptable what you just did' "Deep, deep down I was peed off that I wasn't picked [to start the first Test]. I felt I was in form and had been England captain," said Dawson."From the off it was very obvious who the starting XV were going to be."There was no controversy or news on that tour so when my diary was printed everyone jumped on it."I was rooming with Austin Healey and he was told it had all kicked off back home so when he walked into our room, he said 'you are in so much trouble'."Literally as Austin has said that the phone rings and my mum's collapsed because she's had a panic attack from hearing the news as she knows that her son might be in the thick of it. "It's absolute chaos, so I went up to Graham Henry's room and knocked on his door and said we need to have a chat."The words he said to me were, 'it is unacceptable what you just did, but just to let you know, I know where you are coming from because I don't inspire myself at the moment' - and that was because one of the newspaper headlines was 'the coach doesn't inspire me'."They were his words. It was very open and honest of him." 'I was told I was going home' Lions captain Martin Johnson was influential in persuading team manager Donal Lenihan to let Dawson stay."I was feeling so bad and right in the thick of it, but it didn't affect the team who ploughed on and won," said Dawson."As soon as the game finished I was pulled over by the team manager and told I was going home as it was unacceptable."Martin then said 'no he is not' and said to the team manager that I shouldn't have done it but that is the reality of what has gone on."On the Monday they said I wasn't going home but they were going to fine me what I was paid for the article."They fined me £5,000, thinking that is what I was getting paid for it."They called a team meeting and put chairs around the whole room in a circle, with one chair in the middle."I stood up in the middle and Johnno [Martin Johnson] was keeping a straight face, but you have got all these other idiots killing themselves laughing."I was trying to be sincere but they were laughing. I said 'I am sorry for the unnecessary pressure before the first Test'."I was thankful we won." O'Driscoll dropped for deciding Test in 2013 Roberts was also involved in a controversial Lions Ireland captain Brian O'Driscoll played in the first two Tests against Australia in 2013, but was left out for the deciding match, causing shockwaves in the rugby world.O'Driscoll, a Lions captain in 2005, was tipped by many to lead the team for the decider with Sam Warburton out Gatland opted to go for his Wales centre pairing of Roberts, who missed the first two Tests because of injury, and Jonathan injury meant Davies started the first two Tests at inside centre instead of outside centre, and his move into O'Driscoll's 13 shirt put him in the firing line."One thing I have massive respect for with Warren Gatland is that he wasn't one for sentimentality," Roberts recalled."That was Warren through and through. He shut out the outside noise and believed in what his ears heard and eyes saw."BOD [Brian O'Driscoll] by his own admission wasn't brilliant in that Test series. In 2009 he was brilliant and in 2013 he was playing well but not like in 2001 and 2009."I made myself fit and Warren, with the Test series in the balance, saw strength in picking a familiar Welsh spine."He saw past the sentiment and the need to satisfy the four countries and BOD's last Test as a Lions great."Jon [Davies] sat on the bus beside me and said 'I am going to take some stick here' and there was a Facebook page called 'Justice for BOD' with a million likes."Luckily for me Jon took all the flack."Gatland's call came up trumps as a Lions side featuring 10 Welshmen in the starting XV thumped the Wallabies 41-16 to clinch the series, with Roberts scoring the final try. Listen to the latest episode on Rugby Union Weekly to find out where Dawson and Roberts rank those two controversies, and find out what else made the top 10. More from the Top 10 series
BBC News
09-07-2025
- Sport
- BBC News
Build-up as British and Irish Lions face Brumbies in Canberra
Update: Date: 10:09 BST Title: Brumbies' proud Lions record Content: Brumbies v Lions (11:00 BST) The Lions were narrowly beaten 14-12 by Brumbies on their last visit to Canberra in 2013. But that game was played on the Tuesday before the first Test. There is never an excuse but in this case none of Warren Gatland's first Test starting XV played that day. It was nearly back-to-back wins after a late conversion by scrum-half Matt Dawson in 2001 sealed a 30-28 win for the Lions. Lions team in 2013 v Brumbies: Rob Kearney; Christian Wade, Brad Barritt, Billy Twelvetrees, Shane Williams; Stuart Hogg, Ben Youngs; Ryan Grant, Rory Best (capt), Matt Stevens, Ian Evans, Richie Gray, Sean O'Brien, Justin Tipuric, Toby Faletau. Replacements: Richard Hibbard, Alex Corbisiero, Dan Cole, Geoff Parling, Dan Lydiate, Conor Murray, Owen Farrell, Simon Zebo. Update: Date: 10:06 BST Title: 'Brumbies under no illusions of the challenge' Content: Brumbies V Lions (11:00 BST) The three-time Super Rugby winners are led by head coach Stephen Larkham, who played for Australia against the Lions in 2001. Larkham was the fly-half in the opening two Tests of the Wallabies' series victory 24 years ago. "The boys have been back in training for a couple of weeks and they are aware of how big an opportunity this is for them to take on the Lions," said Larkham. "We're under no illusions of the challenge that lies ahead." Update: Date: 10:03 BST Title: Brumbies' recent form Content: Brumbies v Lions (11:00 BST) On paper this is the hardest test yet on Australian soil for the Lions. Brumbies finished third in the Super Rugby Pacific table this year and were the only Australian side to reach the semi-finals. The Canberra side won nine of their 14 games in the regular season before losing against New Zealand side Chiefs in the last four on 14 June. Update: Date: 10:00 BST Title: Game four of nine Content: Brumbies v Lions (11:00 BST) The Lions face ACT Brumbies in game four of nine of their tour of Australia. How are we already nearly halfway through this series? It is not quite now or never for Test spots but we are getting close to that stage. This should be a good one.
