Bank to reassess Mackay lending restrictions

The National Australia Bank (NAB) has promised to reassess their lending restrictions for Mackay home buyers.Earlier this year the NAB changed their guidelines for Mackay to restrict home loan lending to only those who could provide a 30% deposit.Following a meeting in October with more than 20 real estate industry leaders, I issued an invitation to the National Australia Bank’s CEO to visit Mackay and hear firsthand about the effects of the bank’s ruling that buyers in Mackay were essentially a "credit risk".