Posted Wednesday, 08 February 2017 at 15:17 by Shape Home Loans
Tagged: Investors | increasing your serviceability | property investing | APRA lending laws | Loan for investment | Equity Release | property strategies
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Our largest bank has pulled the pin on refinance of investment loans effective 13th Feb 2017.
This is after Bankwest made the same move only last week.
The next round of APRA round will be around May and we expect westpac, NAB, Suncorp and ING to make some changes to their investment policy as well.
We have news westpac will change the way they assess income and as a result your borrowing for investors will be reduced by average 20-30% from today's borrowing.
Take action now if your planning too;
- Take out equity
- Reset your interest only
- Obtain a better rate
- Fix your loan
- Buy your next investment property
No, Only new deals from 13/2/2017
There's no effect on owners occuiper deal. If your refinance your owners occuiper loan WITH your investment loan- CBA will take up the deal.
This new policy is only for new stand alone investment refinance
No, only refinacne at this stage
No time frame at this stage, but from experience it be around 9-15month.