Changes to bank investor lending

[tgg]

Hi

I've heard that BankWest will no longer to >80 LVR investor loans and that CBA will offer normal discount if the investor loan application is with a home loan. Is this correct? What other changes are the banks making to investor loans? Is APRA driving all this?

 

[albanga]

Mate read the below 50 threads in this forum and you will find all the answers you seek.

 

[Jamie M]

Yep - plenty of talk on the forum about the changes.

Long story short:

- Some lenders reducing LVRs on IP loans. Bankwest and Heritage reduced to 80%

- No "discretionary" discount off the advertised rate for IP loans with some lenders (includes all the big 4)

- Changes to servicing calculators. Lenders are tightening their borrowing capacity calcs.

Cheers

Jamie

 

[albanga]

Yep - plenty of talk on the forum about the changes.

Long story short:

- Some lenders reducing LVRs on IP loans. Bankwest and Heritage reduced to 80%

- No "discretionary" discount off the advertised rate for IP loans with some lenders (includes all the big 4)

- Changes to servicing calculators. Lenders are tightening their borrowing capacity calcs.

Cheers

Jamie

And no set of steak knives anymore with your IP loans

 

[Jamie M]

And no set of steak knives anymore with your IP loans

Ahhhh damn - didn't get that memo here I am promising everyone steak knives with their loans.

Cheers

Jamie