Two banks announce new investor lending policies
Teachers Mutual Bank announced that it is temporarily withdrawing from approving new investment home loans. Teachers Mutual Bank needs to slow down loan sales to investors to be in line with APRA’s annual investor growth cap of 10 per cent.
Westpac has increased the maximum LVR for its investment loan products from 80 per cent to 90 per cent.
“This change is bringing us in line with market,” the bank said.
Source: Mortgage Business