Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Challenger bank increases investor home loan rates

Challenger bank increases investor home loan rates

ME has today announced that it will increase its investor home loan reference rates by 25 basis points, effective 27 April 2017.

The move will affect new and existing investor borrowers and will put ME’s standard variable rate for investor borrowers at 5.28 per cent per annum.

The bank said the change was made to address increasing regulatory and compliance costs and to ensure the bank remains within investor lending growth limits.

Advertisement
Advertisement

"ME periodically reviews rates to ensure a well-balanced loan book and has recently seen demand rise after investor-rate increases by other banks," the bank said.

The bank said it will not increase the reference rate for any owner-occupier home loans and will maintain a standard variable rate for owner-occupiers at 5.03 per cent per annum.

The bank is offering one of the lowest owner-occupier home loan rates in the market with a rate of 3.89 per cent per annum for loans within a member package between $400,000-$700,000 and with a Loan to Value Ratio equal to or lower than 80 per cent.

Challenger bank increases investor home loan rates
mortgagebusiness

 

Latest News

The Australian Securities and Investments Commission has commenced a court case against NAB over allegations that 16 bankers accepted loan i...

The CEO of an ASX-listed mortgage business has seen demand for housing loans “rise significantly” in response to the recent shift in sen...

The non-major has reduced variable and fixed rates across its owner-occupied and investment home loan products. ...

FROM THE WEB
podcast

LATEST PODCAST: Acquisitions and evolution

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.