Another lender tightening up on interest only lending.
I received an email today advising 90% max for new lending OO and 80% for OO refis.
I think we’re going to continue to see this sort of move from the mainstream lenders over 2017. It’s good news for the smaller niche lenders as there are still some really good policies around if you know where to look.
Yep, what the bigs are dropping, the smaller ones are picking up. Saw an article recently that also non-residents moved from the big 4 to smaller lenders so overall their % in the market is about the same as it was before…
Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)