Powered by MOMENTUM MEDIA
subscribe to our newsletter

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Teachers Mutual Bank has today withdrawn from new investment lending in an effort to meet regulatory requirements.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

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.

Advertisement
Advertisement

PROMOTED CONTENT


More to come.

Teachers Mutual stops lending to investors
mortgagebusiness

Latest News

The chairman of the financial services regulator has resigned from his position, effective immediately. ...

Refinancing settlements for the first nine months of the calendar year 2020 are up 27 per cent on last year’s volumes, having peaked in Ju...

The Tasmanian-based lender has seen a 43 per cent rise in settlements in the first quarter of the financial year, driven by strong demand fr...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Victoria’s surprising appetite for new homes

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

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