Investors & Owner Occupied

/Investors & Owner Occupied

Getting a CBA home loan just got even harder

By |2017-09-15T10:49:10+00:00June 25th, 2017|Finance News, Investors & Owner Occupied|

Australians will find it harder to take out new home loans with the Commonwealth Bank after the lender tightened repayment tests for borrowers. When customers with an existing CBA home loan apply for a new home loan, the bank will assess their ability to continue to repay the existing home loan in the same way they [...]

Westpac raises interest-only rates as mortgage stress heightens

By |2017-09-15T10:47:37+00:00June 25th, 2017|Finance News, Investors & Owner Occupied|

Westpac is the latest lender to put up interest rates, increasing pressure on interest-only borrowers. The bank yesterday announced it would increase rates on interest-only variable home loans by 34 basis points to 5.83%, and on interest-only investor loans by 34 basis points to 6.30%. In a move designed to lure customers into switching to a [...]

Not in their interest: The home loan borrowers that have been left out to dry

By |2017-06-25T07:04:20+00:00June 25th, 2017|Finance News, Investors & Owner Occupied|

There is a hidden and worrying risk lurking for a particular set of mortgage borrowers, whose level of financial stress is about to get a whole lot worse. It's those home owners with interest-only loans that are now increasingly under the pump - with National Australia Bank the latest of the big four to announce big [...]