Australian Banks have CHANGED THE RULES FOR INVESTORS in response to the concerns of the government regulatory authorities (APRA + ASIC) over the perceived “High Levels of Investment Debt” currently in the market place & the potential ramifications for borrowers if the speculation over the bursting of the “Sydney Property Bubble” was to become a reality.
HOW DOES THIS IMPACT INVESTORS ???
Banks have reacted with varying methods to address the concerns of ASIC + APRA with more announcements anticipated over the next few days / weeks.
Listed below are several examples of the differing Lending Policy Changes announced by the Banks to date:
- CBA – Higher Interest Rates for Investors
- BankWest – Investors required to contribute a minimum of 20% Deposit / Equity
- NAB – Investors restricted from receiving Discounts on Interest Rates
- Westpac – Borrowing Capacity for Investors to be reduced – Negative Gearing no longer to be considered in serviceability calculations
- ANZ – Discounts not available for Investors who do not have a ANZ Home Loan
DPF Mortgage Specialists will continue to receive regular updates directly from the Banks and can assist you and your friends / family to navigate through the confusion and varying options if require funding for:
- Purchase an Investment Property
- Refinances of Investment Loan
- “Other” Investment opportunities