Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Teachers Mutual stops lending to investors

Teachers Mutual stops lending to investors

Teachers Mutual Bank has today withdrawn from new investment lending in an effort to meet regulatory requirements.

In a note to mortgage brokers, Teachers Mutual said it is “temporarily withdrawing from new investment lending to meet the requirements of APRA’s 10 per cent cap”.

“We will be reviewing our position weekly and will update you as soon as our position changes,” the bank said.

Advertisement
Advertisement

The changes are effective from today, Wednesday 25 May 2016.

Teachers Mutual noted that all existing applications submitted prior to this date will proceed, but must be settled with 90 days of application.

More to come.

Teachers Mutual stops lending to investors
mortgagebusiness

 

Latest News

The major bank has lowered its interest rate floor for mortgage serviceability assessments, becoming the third major bank to amend its polic...

A big four bank has announced the appointment of a new chief executive officer. ...

Digital neo-lender 86 400 has been granted a full authorised deposit-taking institution licence by APRA and expects to launch its mortgage ...

FROM THE WEB
podcast

LATEST PODCAST: A shift in serviceability requirements

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

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