All Topics / Finance / ANZ OO Interest Only LVRs
Another lender tightening up on interest only lending.
I received an email today advising 90% max for new lending OO and 80% for OO refis.
I think we’re going to continue to see this sort of move from the mainstream lenders over 2017. It’s good news for the smaller niche lenders as there are still some really good policies around if you know where to look.
Tom | Voyage Wealth
http://thebeardedbrokerwa.com
Email Me | Phone MeThe Bearded Broker for Voyage Wealth - all things finance
Yep, what the bigs are dropping, the smaller ones are picking up. Saw an article recently that also non-residents moved from the big 4 to smaller lenders so overall their % in the market is about the same as it was before…
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Yes more and more lenders are tightening the noose.
Be surprised how difficult it is to roll over to an interest only loan once your current IO Term expires these days.
APRA is looking at further tightening this and many other areas of servicing when the introduce their new measures in the May report.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
I think we’re going to continue to see this sort of move from the mainstream lenders over 2017.
Yep – it’s only going to get harder :-(
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Yes Charles
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Anz have also just announced an interest rate increase on all of their interest only loans whether the property be investment or owner occupied.
Looks like P & I is definitely getting cheaper by the day.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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