The Finance Brokers Association of Australia (FBAA) has once again called for a reduction to the 3% serviceability buffer.

New research conducted by CoreData and published by the FBAA suggested that hundreds of thousands more Australians, including many aged 25 to 34, would be able to access mortgage finance if the buffer is reduced to 2.5%.

APRA has maintained the serviceability buffer at a flat 3% since October 2021, meaning borrowers must be able to prove they can service a loan three percentage points above their actual mortgage rate.