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Teachers Mutual Bank has today withdrawn from new investment lending in an effort to meet regulatory requirements.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

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

Pricing for mortgages is “opaque” and the cost and effort needed to search for discounts is “unnecessarily high”, the ACCC’s Resid...

The downward trend in home loan approvals reversed in October, but the spike is set to be short-lived, according to analysts. ...

The Customer-Owned Banking Association has welcomed the Coalition government’s joint party-room approval of legislation designed to reduc...

FROM THE WEB
podcast

LATEST PODCAST: Changing faces and bank growth slowdown

Is enough being done to ensure responsible lending?