Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Non-major tightens investment lending, interest only loans

Notify me of new replies via email
Australian Broker | 15 Feb 2017, 04:30 PM Agree 0
Notable credit policy changes were also announced
  • Brisso Broker | 15 Feb 2017, 04:44 PM Agree 0
    Lure people in with investment rates at owner occ levels and then jack them up soon after
    Imagine the airtime this would get if CBA did it - They abandoned the investment market a couple of years ago when things got tough and they've basically done it again. Disgraceful
  • Anon | 15 Feb 2017, 04:55 PM Agree 0
    "competitor activity in the property market" Monkey see...Monkey do! Wonder if ASIC will look at this?
  • Grahame | 15 Feb 2017, 06:01 PM Agree 0
    A financeir with a poor service level. I was asked numerous times for the same information by different people. Bad information retention and poor quality staff.
    I have not heard any other broker say anything good about AMP.
    I am surprised anyone is still using them.
  • Syd broker | 16 Feb 2017, 03:25 AM Agree 0
    The story should be clearer. The changes only impact new business. It's not about abandoning but about managing against limits. We've had a good deal for a while now we just use another lender (until they do the same).
  • Nth Qld Broker | 16 Feb 2017, 08:35 AM Agree 0
    AMP our 'fair weather friends'.... Having been messed around on a vanilla deals by them. Jumping in and out of the market at their leisure it would take slot for me to think AMP for any deal that could go elsewhere
  • Coast broker | 16 Feb 2017, 08:51 AM Agree 0
    AMP have struggled for relevance for some time now, and this is a good opportunity to drop them entirely. Farewell poor service, farewell poor BDMs...
  • AMP - Always Mediocre Performance | 22 Feb 2017, 12:51 AM Agree 0
    Clarify @Brisso Broker, They still do INV at OO rates if you bring an OO loan on board...however, their regional lending policy is rubbish (no loans in Kalgoorlie without LMI....even through their insurer does not have a blanket LMI policy)...and their construction policy is non existent
Post a reply