Macquarie Bank is the first non-major Australian lender to announce a raft of interest rate changes for investor home loans.
In communication sent to brokers obtained by Australian Broker
, the non-major lender announced that fixed and variable rates for new investment home loans will increase by 0.27%, effective Friday 31 July 2015.
Variable rates for existing investment home loans will also increase by 0.27% from Monday 10 August 2015.
In a note to brokers,the bank said the changes have been made “in response to market conditions."
Last week, both ANZ
and Commonwealth Bank
announced rate hikes on investment loans, while Westpac
this week announced lending restrictions for foreign buyers, as they attempt to satisfy the Australian Prudential Regulation Authority's guidelines for lending to investors.
Macquarie’s announcement also comes after it revealed in its annual general meeting last week that its mortgage portfolio grew by 44% in 2014-15, approximately four years after re-entering the broker channel.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out