All Topics / Finance / CBA caps Yield

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  • Profile photo of Don NicolussiDon Nicolussi
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    @don
    Join Date: 2005
    Post Count: 1,086
    November 18, 2013 - 4:37 am

    Today CBA announced it will be capping rental yield from now on. Customers who earn greater than 8% p.a. rental yield must be advised that the Bank can only use the maximum of 8% p.a. rental yield for servicing.

    Don Nicolussi | Property Fan
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    Learning, having fun and doing it!

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    November 18, 2013 - 4:52 am

    Yeah I just read that too.

    All good though – not normally a bank of choice for investors with more than a few properties under their belt due to their servicing calc.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of TheFinanceShopTheFinanceShop
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    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271
    November 18, 2013 - 11:57 am

    There are a lot of policies that puzzle me like Homeside's 6% cap on rental but this is one of the policies that definitely make sense.

    TheFinanceShop | Elite Property Finance
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    Residential and Commercial Brokerage

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    November 18, 2013 - 8:50 pm

    Given their current servicing levels wouldn't be a lender you would touch at the moment irrespective of the credit policy.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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