news

Investors under increasing pressure

By Huntley Mitchell
Nab

A third big four bank has announced loan rate changes in an attempt to curb investor borrowing activity. 

NAB has become the third major bank to raise interest rates in response to industry concerns surrounding investor lending growth.

The bank will increase variable rates on its interest-only home loans and line of credit facilities by 29 basis points.

In a media statement released yesterday, NAB Broker general manager Steve Kane said the decision was in response to industry concerns about the pace of investor growth and a focus on delivering prudent lending practices into the Australian housing market.

“We operate in a highly regulated market and lenders are making a range of changes to meet their obligations,” Mr Kane said.

“We continually review our lending practices and remain committed to maintaining prudent lending standards and fulfilling our regulatory obligations.”

Mr Kane said brokers are in a prime position to support customers through these changes and provide them with the advice they require.

NAB’s announcement comes after CBA and ANZ raised interest rates for investors, while reducing fixed rates for owner-occupiers.

Investors under increasing pressure
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%