Global finance: tougher mortgage laws risks Australian property market?

Off-the-plan buyers of Australian apartments are in crisis as tough new borrowing rules mean thousands of investors who have paid a deposit are struggling to complete their purchases, according to local and overseas mortgage brokers and financiers. Shanghai-based financiers claim their Chinese clients' funding from Australian banks has been frozen and they face foreclosure - or usurious interest rates - from private financiers. Could the situation post a greater threat to our property market? Ivan has interviewed financial planner Kam Yuen to explain it in details. Kam is also going to give some advice on how should the investors and own home buyers react to the current situation.

A house is for sale in Sydney. Source: AAP