Bank is the latest lender to hit investors with an interest rate rise as they move to address recent industry-wide concerns regarding residential investment lending
From Tuesday 1 September, Bendigo Bank's residential investment standard variable interest rate will rise by 0.20%.
The non-major’s residential investment package variable rate will also increase by 0.20%
for new business and most existing investor variable rate loans.
Bendigo and Adelaide
Bank managing director Mike Hirst says implementing this measure supports the bank’s prudent management by appropriately pricing for risk and assists restraining investor mortgage book growth to less than 10% per month as required by APRA.
“When it comes to setting interest rates, our Bank takes into account a wide range of factors and carefully consider its key stakeholders including borrowers, depositors, staff, shareholders, partners and the wider community,” he said.
“We believe this approach considers the needs of our stakeholders while continuing to provide customers with market competitive rates,”
Can you afford to buy in this suburb? Find out how much you can borrow
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