Powered by MOMENTUM MEDIA
the adviser logo
Lender

ANZ reprices investor loans

by James Mitchell1 minute read

The big four bank has today announced that its variable mortgage rates for property investors will rise in response to changing market conditions.

ANZ today revealed that its variable Residential Investment Property Loan Index Rate would increase by 8 basis points to 5.60 per cent in response to “rising funding costs and changing market conditions”.

There is no change to ANZ’s standard variable rate for owner occupier home loans. Fixed rates remain unchanged for both investors and owner occupiers.

“Despite residential investor rates remaining at historic low levels, this was a difficult decision that took into account increases in our funding costs and our regulatory obligation to manage a balanced portfolio,” ANZ group executive Australia Fred Ohlsson said.

“There are no changes to our variable rates for owner occupier home loans. Customers concerned about the long-term direction of interest rates are able to take advantage of our competitive fixed rates that remain unchanged for both investors and owner occupiers,” Mr Ohlsson said.

ANZ will also increase its Equity Manager Account rate by 15 basis points to 5.82 per cent.

All changes are effective December 16.

anz  x

James Mitchell

James Mitchell

AUTHOR

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

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

PhilipLowe mb

RBA attempts to curb runaway inflation

On Tuesday (5 July) the Reserve Bank of Australia (RBA) announced at its monetary policy meeting it will increase the...

READ MORE
flood qld suburbs ta

Home loan support offered to NSW flood victims

Widespread persistent heavy rain over large swathes of NSW over the weekend and into Monday (4 July) has caused major...

READ MORE
Dr Jane Rennie CPA

Accountants to decline ‘capacity to repay’ requests

The leaders of CPA Australia, the Institute of Public Accountants (IPA), and the Chartered Accountants Australia and...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more