| Hi Friend,
I hope this email finds you and your family well?!
You may or may not be aware that there are many changes being made by majority of the lenders in regards to new and existing investment loans.
Some lenders have even gone as far as pulling out of offering investment lending till at least the end of this year.
This has come about from APRA (Australian Prudential Regulation Authority) in order to slow down investment lending which continues to grow to elevated levels in the mortgage market. They want to ensure lending practices remain sustainable, and that the lenders investment home loan portfolio remains below the 10% growth limit.
In a nutshell what this means is:
- Many lenders will increase the interest rate on all new AND existing investment loans.
- Many lenders have reduced the LVR to 80% when purchasing an investment property - you'll need to put in 20% + costs
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| These changes do not affect owner occupied loans.
If you are concerned how these changes may affect you, please schedule a time to have a chat with me - www.thrivefinancialsolutions.com.au/schedule
Warm Regards
Melinda Mahon-Newton
PS. Feel free to send this email to anyone you know who may be interested.
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