Given the changes in lending criteria that have been coming through lately (and more to come), how easy is it to apply for a IO loan for a new PPOR (ie. getting pre-approval for IO loan before going out to buy a PPOR)? Wouldn't the lender want you to do P&I repayment if you tell them that it'll be a PPOR?
I have noticed in the past few weeks it's getting a little tougher out there for investors; not talking policy, the lenders are scrutinising deals harder as well. This is bound to have a flow on effect to all mortgages.
The answer is probably that it's a little harder, but hard to quantify. Lenders don't really tell us how much they like the deal, only if it's approved or not.