If you’re in the market for an investment loan there have recently been a lot of changes that you should be aware of. APRA, the governing body, have passed down to lenders a list of recommendations to ensure that they’re not “over-lending” to investors.
These recommendations are being adopted by many lenders and they are tightening their lending criteria. Some lenders are decreasing their loan to value ratio (LVR) on investment loans, and our ability to negotiate rates has been reduced with many lenders for investment loans and owner/occupier interest only loans.
On the flipside, we’re seeing strong valuations on investment properties on the east coast, so don’t be disheartened – we just have to make sure the numbers add up for you.
In other news, I’m going on leave from Wednesday 3rd June, returning Wednesday 1st July. I’ll be checking emails daily, but won’t be as readily available as I am at the moment.
I’ll be leaving everything in the very capable hands of Tanya Glynn, our Loans & Settlement Manager. Tanya has been working with me for the past 6 months. She’s incredibly organised, has great attention to detail and has ensured the smooth processing of loan applications since she joined the team.
Tanya can be contacted by email on admin@lovehomeloans.com.au or phone 0412 505 492.
If you haven’t downloaded our e-book yet, do it now – it’s stacked full of great information for anyone wanting to get a loan and buy property.
Follow this link to download your copy now!
I’ll see you or talk to you when I’m back, otherwise, please call Tanya.
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Regards
Michael
0405 113 543
