As you may be aware through coverage in the media the Lenders are reviewing their underwriting guidelines to ensure a responsible approach to consumer credit. Regulators have placed a 10% growth cap on residential investment lending. As a result lenders are imposing stricter credit guidelines, such as LVR (loan to value) restrictions, and increasing pricing on new and existing borrowing. We will keep up to date on all policy (including loan servicing – borrowing capacity changes) and rate changes and where possible provide updates by the effective dates. Please contact us so we can assist with loan comparisons during this period of change.

Upcoming changes and other updates:

Macquarie— New Serviceability calculator effective 1/8/2015 currently being updated in FLeaTS
Westpac— Changes to Investment loan Fixed Interest Rates effective 4/8/2015
Bankwest— Changes to Investment Super Start Home Loan Rates effective 4/8/2015
St George, BankSA, Bank of Melb— Changes to Investment loan Fixed Interest Rates effec-tive 4/8/2015
St George, BankSA, Bank of Melb— LVR 80—85% LMI offer effective 4/8/15
St George, BankSA, Bank of Melb— Changes to Investment loan Variable Interest Rates effective 21/8/2015
Auswide— Super special offer expires 7/8/2015
Westpac— Changes to Investment loan Variable Interest Rates effective 10/8/2015
CBA— Changes to Investment loan Variable Interest Rates effective 10/8/2015
ANZ— Changes to Investment loan Variable Interest Rates effective 10/8/2015
NAB Broker— Changes to Investment loan Variable Interest Rates effective 10/8/2015
St George, BankSA, Bank of Melb— Changes to Investment loan Variable Interest Rates effective 21/8/2015
Suncorp— Changes to Investment loan Variable Interest Rates effective 31/8/2015
Westpac— Extension of Premier Advantage Package special offer until 30/9/2015
ING— Extension of Orange Advantage <80% >$750K promotion until 30/9/2015
ING— Orange Advantage annual fee waiver for the first year for new loan applications will continue until further notice. Fixed Rate fee Waiver has been extended until further notice
Adelaide Bank— Extension of special pricing on SmartFit and SmartSaver until further notice

 

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