Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Lender announces new policy for investor loans

cua logo  x cua logo  x
James Mitchell 4 minute read

An Australian lender has announced an LVR cap on all of its new investor home loans as it continues to manage its investor loan growth.

On Friday CUA confirmed that for any investor home loan applications submitted from today, a maximum LVR of 70 per cent will apply.

“This change means a consistent maximum LVR now applies across all of CUA's variable and fixed rate investor loans,” CUA said in a statement.

“A maximum LVR of 70 per cent has applied since July 2015 for residential investors taking out the CUA Fresh Start Variable Home Loan.”

Advertisement
Advertisement

CUA highlighted that it has already taken a number of steps to slow its growth in investor lending, including the introduction of investor interest rates, and a review of their maximum LVR for investor loans earlier this year.

“While these actions are helping to slow investor lending, it's important that CUA continues to proactively manage our investor growth,” the group said.

“There is no change for new or existing owner-occupier home loan customers. Any customers with an existing CUA investor home loan will not be affected by these LVR changes on home loan rollovers or product switches.”

CUA said residential investor home loan applications submitted before today will be assessed under the existing LVR rules.

[Related: CUA chief says demand for home loans is slowing]

PROMOTED CONTENT


Lender announces new policy for investor loans
cua logo  x
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

cua logo  x
James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

 

more from the adviser
Greater Bank Newcastle Perm merger

Breaking News

Bank CEO pledges to maintain broker offering following merger

The CEO of Newcastle Permanent has said the lender will continue ...

Money jar

Breaking News

bcu launches $5k cashback offer

The customer-owned bank has released a cashback offer for new and...

RBA

Breaking News

RBA makes cash rate call as lockdown drags on

The central bank has delivered its rate decision for August as th...