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Third major bank joins rate hikes

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Australian Broker | 28 Jul 2015, 07:54 AM Agree 0
Another major lender has introduced interest rate hikes, announcing rate increases on interest-only home loans in a bid to temper growth in investor lending
  • Aaron | 28 Jul 2015, 08:57 AM Agree 0
    Well done APRA. If your intention was to increase interest rates for investors retrospectively, mission accomplished!! If this was not your intention, don't use the bank lever to adjust the market. #feelsorryforotpbuyers2014
  • Mortgageguy | 28 Jul 2015, 10:06 AM Agree 0
    Increasing rates on owner occupied, interest only, is just gouging under the "APRA made me do it" umbrella, shame NAB, shame.
  • Dean | 28 Jul 2015, 10:21 AM Agree 0
    Brokers need to look at Credit Unions. We have had to provide more capital for years yet we still remain competitive. Another reason to flick the big banks as this move is nothing more than to maintain their profitability at the expense of their customers.
  • Broker | 28 Jul 2015, 10:59 AM Agree 0
    Well done NAB, I'm sure plenty of yours and my NAB owner occupied I/O customers will now be looking to refinance elsewhere.

  • Rob AUSSIE | 28 Jul 2015, 11:19 AM Agree 0
    This goes against what the RBA is trying to do. So maybe there will be a decrease in official interest rates sooner than later.
  • Dino | 28 Jul 2015, 11:21 AM Agree 0
    Sydney is not a country by itself Mr APRA! Australia is a country. Cheers for screwing the rest of the country and making lending more complicated which means more people coming to the broker channel. :)
  • Bottom Line.... | 28 Jul 2015, 11:31 AM Agree 0
    And the profit gouging begins.........
    APRA will soon get the message across, that they only want overseas investors buying Australian property, not Australians...
  • Broker | 28 Jul 2015, 11:58 AM Agree 0
    How about scrap all this crap and just cap overseas investors at 50%-60% LVR- now that'll achieve the desired effect!...umm what exactly is the desired effect?!
  • Will | 28 Jul 2015, 12:35 PM Agree 0
    Broker, (“you are spot on up the cap overseas investors at 50%-60% LVR”.) I’m in real-estate, The real risk is in the high rise apartment that are yet to be built.(started but not finished).once Sydney comes of the boil and common sense returns to that market will correct itself in mid-2016. And the only one holding their heads will be the developers and the banks that financed these projects. Because you won’t find Mr Mee Long Gong when Sh*t hits the fan. The whole country is been held to ransom because of Sydney and the risk the banks have in these projects. Come on people surly we can see the Sh*t storm coming, (Plus on the up side for the government,). They what’s to stop Neg- Gearing what better way to do it, use APRA and the Banks.
  • Tarl | 28 Jul 2015, 02:59 PM Agree 0
    Sometimes I wonder if people in APRA and RBA make these decisions because they live in Sydney? Would they have made the same decision if they live in, say, Port Hedland?
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