Interest rate changes announced July 2015
Over the past couple of months we have seen some considerable changes to the investment lending from the banks.
This has been instigated by APRA (Australian Prudential Regulation Authority) trying to control the increasing expansion in investment lending (and rapidly increasing property prices mainly in NSW & VIC), coupled with a 50+ year record low interest rates.
Lenders have either changed their policies or increased rates and LVR’s to meet APRAS 10% limit on investment lending growth.
The following lenders have announced changes to their loans:
ANZ
Variable interest rates on Investment loans increasing by 0.27% for new and existing customers effective 10th August 2015 (S/V from 5.38% to 5.65%)
From 28th July 2015 Fixed rates for new customers will be different for Owner Occupied and Investment loans (Owner Occupied being cheaper)
CBA
Variable interest rates on Investment loans increasing by 0.27% for new and existing customers effective 10th August 2015 (S/V from 5.45% to 5.72%)
Fixed interest rates for Investment loans will be moving effective 31st July 2015
Macqurie
Fixed and variable interest rates on Investment loans increasing by 0.27% for new customers effective 31st July 2015
Variable interest rates on Investment loans increasing by 0.27% for existing customers effective 10th August 2015
NAB
Interest rates on Interest Only (Investment and Owner Occupied) home loans and Line of Credit facilities will be increasing by 0.29% for new customers effective 10th August 2015 and for existing customers effective 10th September 2015
