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Aggregator head warns brokers of side effects of APRA crackdown

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Australian Broker | 14 Oct 2015, 07:51 AM Agree 0
The chief executive of a major aggregator is encouraging brokers to urgently address a concerning side effect of APRA’s crackdown on investment lending
  • Andrew | 14 Oct 2015, 02:15 PM Agree 0
    As per article above, just done a refi for an investor client who got caught by the Bankwest debacle. He bought 2 IP's at 95% finance approved by Bankwest 1 year ago and loans settled 5 days apart, one at 95% and the other Bankwest pulled their finance and would only settle at 80%. Client had to put the difference on his CC - lucky for him he has the capacity. There will be borrowers out there who are going to get burnt big time.
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