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ANZ targets investors with 'portfolio' loan

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Australian Broker | 20 Jul 2009, 12:24 PM Agree 0
As the property investment sector shows signs of recovery, a new mortgage product targeted at investors has been launched by ANZ.
  • Peter T | 22 Jul 2009, 10:07 AM Agree 0
    I support ANZ, they seem to be the only major that really respects brokers, but I can't support this product. Under the guise of making things more flexible for customers, this product cross-collateralises everything the borrower owns. This is great for the bank as it gives them ultimate control over the borrowers portfolio, but over the longer term the borrower completely looses control over their borrowings. It's easy initially, but actually hurts the serious investor wanting to have more than 2-3 properties in their portfolio.
  • BBB | 22 Jul 2009, 11:02 AM Agree 0
    Saw this product yesterday , Have the ANZ woken up , to my mind yes , better products , shorter approval times and a willingness to work with brokers.Their CEO does from a culture where brokers are regarded as part of the market and he obviously want to deal with em. GIVE A GO as well as the non bank lenders
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