Adelaide Bank INV loan changes

Discussion in 'Loans & Mortgage Brokers' started by euro73, 2nd May, 2017.

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  1. euro73

    euro73 Well-Known Member Business Member

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    Screen Shot 2017-05-02 at 5.40.45 pm.png
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    I've never met anyone who is with Adelaide Bank. What is their niche?
     
  3. DaveM

    DaveM Well-Known Member

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    You have met me :p

    Funny thing is in Adelaide, its not branded Adelaide bank, all Bendigo Bank.
     
  4. D.T.

    D.T. Specialist Property Manager Business Member

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    Oh Bendigo. We're too afraid to call it our own here? :p
     
  5. Corey Batt

    Corey Batt Well-Known Member

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    Adelaide Bank saw a huge amount of investors use them back in late 2015 - they were one of the last lenders working with actual repayments for servicing calculations whilst offering competitive rates, so they took on a stack of business whilst having their assessment queues extend out for weeks.

    Not a huge lender for investors these days, they come in and out of the market with OK interest rates - this will definitely be a show stopper for them in the investor space.

    They're also a big player in the mortgage managed wholesale funding channel - so this will send through some ripples in that channel.

    TL;DR - not a big deal in terms of this specific lender, but this is definitely a sign of things to come in terms of APRA targeting of interest only lending.
     
    albanga and flyhere like this.
  6. euro73

    euro73 Well-Known Member Business Member

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    self dec lo docs ( just like RAMS) , and fixed rates with a genuine 100% offset.