Investment interest rates increasing
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We have been commenting on this for a while and it appears that the banks are going to start to pass this on (although a number have not made comment or shown any price changes yet) the Reserve Bank is also conducting a further review to see if the Banks should hold even more capital on mortgage lending which could push interest rates up even further.....
Restrictions based on offshore borrowers
The last week has seen policy changes by ASB, ANZ, BNZ and Westpac targeted at offshore borrowers. Effectively while this again looks like Banks are massively tightening criteria this is in reaction to an extent to mortgage fraud issues which have eventuated in Australia and are designed to limit the chance of this happening here. Basic changes are that foreign income for borrowers who are.....
ANZ tighten lending criteria for investment builds
On Friday the 3rd of June ANZ announced a number of changes to their lending criteria. The key changes for investors to focus on are the removal of the Combined Collateral Exemption and that ANZ will no longer provide mortgages for construction for investment properties......