AMP pulls out of investor lending | Westpac increases surplus buffer rate to 0.25%
AMP pulls out of investor lending | Westpac increases surplus buffer rate to 0.25%
MPA Lender Update is your same-day product information service, bringing together updates from all lenders
RATES
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AMP Bank increases interest rate on existing investor property loans by 0.47%, effective 7 September 2015.
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AMP Bank reduces interest rates for new owner occupied variable loan rates on the AMP Bank Professional Package to as low as 4.12%, effective 27 July 2015.
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Westpac increases surplus buffer rate from 0.21% to 0.25% for Consumer Mortgages, effective 1 August 2015.
PRODUCT
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AMP Bank is no longer accepting new or assessing existing investor property lending applications, effective today until later in 2015.
POLICY
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Westpac clarifies LVR policy for Australian citizens living outside of Australia (ex-pats) - base LVR 80%, maximum base LVR non-capitalised 95%, maximum capitalised LVR 97%. Also changes to income and construction matrixes and migrant lending package.
COMMISSIONS
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No changes today
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