Did anyone manage to max themselves out BEFORE the APRA changes?

A lot of people are now either maxed out or limited now due to the APRA changes. I'm curious if anyone managed to get as much as they could before this all started in late May?

I got really close. I would say I'm about 2-3 equity releases away from where I wanted to be. Now I'll probably get 1 at most. Still I'm happy to have been able to get my last property - I submitted my loan application literally the day before I learned about the first round of changes.

Anyway I'm curious - were any of you in the fortunate position of being able to squeeze very cent out of the banks before you had hit the ceiling, before APRA's meddling?

 

My finance broker was weary a few months ago and recommended we get as much out as we can asap and we listened. Only 1 place I was a little too late. 1 bank had literally changed their policy the day after we got our equity out.

 

I did equity release every 6 months for the last 2 years for the Sydney props, so its basically skin to the bones for some, but remain a 80% LVR focus as getting old.

 

Haven't mazed equity out, but maxed servicability before the changes.

Did a release with amp a couple days before their servicing rate increased.

Also doubled our portfolio size between August and Feb, buying interstate. So I think we can be happy we did the best we could while we still could.

Will be ok to take a break and sit through this, fix some rates.

2 years later things will be easier

 

I did secure another loan, however as I am a developer I am still continually at the mercy of the banks, buying land now and then building. Not looking forward to sourcing finance for the build, fun times

MTR

 

Know what you mean MTR. Its a love/hate relationship for me.

 

We refinanced two of our places before the changes and were very lucky that our broker is a knowledgable guy who advised us well!

 

The vast majority of my applications for the last couple of months have been refi/equity pulls for existing clients. It was a crazy/busy period.

 

Same here. Fortunately we just scraped in with AMP to get top ups to cover subdivision/titling charges but construction loans now look hairy.

We didn't max out our equity but have done a few top ups in the past 6-8 months.

 

First week of May i think my whole team and I didn't sleep properly for weeks! worked 7 days/ 16 hours day for 4 weeks straight and worst of all didn't get a chance to catch up on my weekly SS read lol

Personally i missed out on one set of equity, took out 4 prior but due to work didnt have time to submit my own Gonna have to refinance now no biggie...