Changes to investor interest only lending

‘Outside of CBA this is the first major bank that has allowed I/O repayments > 80% for the past 18 months. It’s a good sign that the banks are slowly relaxing their lending criteria’ – Chris Raymond – Investment Lending Specialist

ANZ Media Release:

Effective Monday 25th March 2019, ANZ will be making the following changes to Residential Investor Interest only lending.

Interest only availability for investment lending will be increased to a maximum 90% LVR for new and increased lending.
The maximum interest only period will be increased to 10 years for investment lending.
Why are we making these changes?
In response to APRAs responsible lending guidance in 2017, ANZ made a series of policy changes to manage the growth in Interest Only (IO) and Investor lending.

On recent review, we have made a decision to increase our focus on the investor market. The upcoming changes demonstrate our continued appetite in the investor market, whilst ensuring we remain in line with our APRA requirements.

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