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Are major banks taking advantage of interest-only borrowers?

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Your Investment Property | 27 Jul 2017, 12:00 AM Agree 0
A former bank executive says the banks’ rate hikes for IO borrowers was motivated more by greed than by a desire to abide by APRA’s new restrictions
  • Jason | 31 Jul 2017, 07:34 PM Agree 0
    Hi, The rates do not account for how much you paying of the interest only loan nor does it account for income generated from the rent and personal income, nor the total value of your portfolio. We have been with St George for many years when contacting them they are not interested nor care for investors who can show that the balance over time is reducing. Our choice to have IO is a matter of cash flow and used and managed correctly works well. This is simply an excuse to use politics to boost their profits and they care little for investors who are simply tying to boost their retirement incomes and be financially independent. I will be choosing to move my business to someone who wants it. Bye St George or should I say West Pac as they are one in the same.
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