Would you lie to get a lower loan rate?
Wealthy property investors are trying to get around new lending rules and higher rates for investors by pretending to be owner-occupiers according to high profile inside sources.
One mortgage expert said investors could have their mail redirected from the loan property’s address.
Interest rates for property investors are as much as 0.40 percentage points higher than they are for owner-occupiers. Borrowers have to have enough money and income to have a loan approved without renting the property out.
Source: Herald Sun