Softer conditions in home lending are prompting the country’s banks, whose loan portfolios are dominated by residential mortgages, to target growth opportunities in specific customer segments, including property investors and first home buyers.
Under the Australian Prudential Regulation Authority’s rules to dampen the housing market, no more than 30 per cent of new bank home loans can be interest-only, and banks’ housing investor loan books can grow no faster than 10 per cent.
The big four banks are now all well below these caps after various moves to increase interest rates and tighten credit.
Now is a great time to invest in property and source a great financing package in a highly competitive marketplace.
https://stratgroup.com.au/wp-content/uploads/2017/03/SIG-WEB-LOGO.png00Kiril Ruvinskyhttps://stratgroup.com.au/wp-content/uploads/2017/03/SIG-WEB-LOGO.pngKiril Ruvinsky2018-02-27 01:00:042023-04-28 09:13:56Competition heats up among lenders for first home buyers and investors