21Westpac to wear additional $341m in remediation
- ... $168 million; and provisions associated with interest-only loans that did not automatically switch, when required, to principal and interest loans total $109 million. Following the announcement, ...
- 23 October 2019 in News
22Investment lending commitments on the rise
- ... of investment credit growth and capped interest-only lending, which discouraged investment activity in the property market. CoreLogic also highlighted that investors pay, on average, 58 basis points ...
- 18 October 2019 in News
23Lender cuts fixed rates by up to 60 bps
- ... (P&I) and interest-only (IO) loans with loan-to-value ratios (LVR) starting at less than or equal to 90 per cent. A summary of the fixed rate changes are as follows. Owner-occupied, P&I repayments ...
- 15 October 2019 in News
24Mortgage appetite ‘activated’ by serviceability changes
- ... loans with relatively low interest rates such as principal and interest loans to owner-occupiers, maximum loan sizes have increased by more than for loans with higher interest rates such as interest-only ...
- 11 October 2019 in News
25Lower floor rates having ‘small’ impact on demand
- ... such as interest-only loans to investors,” the CFR stated. “In practice, however, only a small share of borrowers take out loans that are close to the maximum available to them, suggesting the overall ...
- 10 October 2019 in News
26Lenders continue to slash variable rates
- ... BOQ BOQ has reduced its variable mortgage rates by 10 bps, with the exception of investment loans with interest-only terms, which have been cut by the full 25 bps. BOQ’s cuts will take effect on ...
- 07 October 2019 in News
27ANZ, Westpac drop variable mortgage rates
- ... from 11 October. ANZ’s standard variable rates (SVRs) for borrowers with principal and interest (P&I) terms will drop by 14 bps to 4.79 per cent for owner-occupiers. SVRs for investors with interest-only ...
- 02 October 2019 in News
28Mortgage application inaccuracies rise despite crackdown
- ... who had their mortgages rejected twice or more (76 per cent); investor interest-only mortgagors (56 per cent); and borrowers that required a guarantor (53 per cent). Moreover, UBS found that respondents ...
- 01 October 2019 in News
29Banks reprice home loan offerings
- ... fixed rates will now start from 3.29 per cent, while rates for borrowers paying interest-only (IO) will start from 3.79 per cent. Meanwhile for investors, rates for borrowers paying P&I will start from ...
- 25 September 2019 in News
30Property market risks ‘abated’
- ... a range of reforms that commenced in 2014, designed to improve credit quality, with such reforms including a cap on investor and interest-only lending, and the introduction of a 7 per cent interest rate ...
- 24 September 2019 in News
31APRA pushes for ‘more granular’ mortgage reporting
- ... also include statistics for non-performing loans for each of the allotted categories, which includes: Owner-occupied Investment Interest-only Third-party originated Low-doc loans Loans to ...
- 23 September 2019 in News
32DTI lending caps touted as future credit curbs
- ... APRA introduced a range of reforms that commenced in 2014, designed to improve credit quality, with such reforms including a cap on investor and interest-only lending, and the introduction of a 7 per ...
- 20 September 2019 in News
33ME sees NIM squeezed by ‘intense’ competition
- ... interest-only repayments across the board”. “Across the states, we have probably seen stronger growth in Melbourne and Sydney and less in Perth but that, again, is reflective of house prices in those ...
- 19 September 2019 in News
34Mortgagors move to pay down debt
- ... that there has been a 14 per cent increase in the number of home loan customers switching from interest-only (IO) to principal and interest (P&I) loans since June. Three months ago, the Reserve Bank ...
- 17 September 2019 in News
35Mutual banks’ lending growth outpaces majors
- ... is the first quarter to record a rise in new lending in over a year. Meanwhile, new investment loan volumes are up 13.8 per cent from 31 March 2019, and interest-only loan approvals saw an increase of ...
- 17 September 2019 in News
36APRA leaves door open to new lending curbs
- ... n 2014/15, which capped investor and interest-only lending growth. The APRA chair said that the regulator had intervened because the banking system “was not responding prudently” to an environment of ...
- 16 September 2019 in News
37APRA reports rise in share of high-LVR mortgages
- ... fall in new owner-occupied loans ($231.5 billion) and a 15.8 per cent ($18.6 billion) fall in new investment loans ($98.9 billion). The number of new interest-only loans approved over the same period ...
- 12 September 2019 in News
38Major bank slashes mortgage rates by up to 130 bps
- ... rates have been cut by up to 80 bps, and now start from 3.29 per cent (4.05 per cent comparison rate). For owner-occupiers paying interest-only, rates have been cut by up to 110 bps, and now start from ...
- 10 September 2019 in News
39Signs point to ‘solid selling season’: ME
- ... 3.48 per cent (4.25 per cent comparison). Investors with a three-year fixed rate investment loan (≤80 per cent LVR) and paying interest-only repayments will also see rates drop by 20 basis points. This ...
- 06 September 2019 in News
40Lending interventions now ‘part and parcel’ of APRA’s remit
- ... pointing to its macro-prudential curbs on investor and interest-only lending, which he said were “seen as unusual and controversial”. “Many questioned why we were intervening – if there was concern about ...
- 28 August 2019 in News