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2017 Lending Update

In our first lending update for 2017, we wanted to share some fairly significant information with you regarding recently announced changes to the pricing of home loan and investment property loan products which you may or may not be aware of. These changes affect anyone who has an investment property loan or is on an interest only repayment structure or those of you that utilise line of credit products secured by your home.

From the middle of December most of the banks including the big 5 lenders – CBA, ANZ, Westpac, St George and NAB, all announced increases to the home loan rates. Significantly, but not unexpectedly, without any corresponding change in the RBA cash rate.

As background, the reason for the changes are driven by the ongoing regulatory pressure being applied to the banks. As discussed previously in this newsletter, since mid-2014, the regulators, as part of their efforts to try and slow local property market growth, have been influencing and directing bank behaviour and specifically their lending activity through increased regulatory requirements and supervision. As an example, two of the directives introduced, are that a bank’s investment property loan book must not grow by more than 10% per annum versus their total property loan book AND they require the banks to hold more capital against their investment property loan books, meaning that banks have to make those loans more expensive if they want to maintain their return on capital objectives. Over the last 18 months, the banks have responded to these directives in a number of direct and indirect ways, increasing pricing in the way they have, certainly addresses their issues but at the expense of you, the customers. It is also important to be aware that this is the 3rd time in the last 18 months that we have seen these types of changes and increases.

So what are the changes?

  • Investment property loans – ANZ, CBA and NAB all increased their variable rates by between 0.07% and 0.15%, with NAB being the highest change at 0.15%
  • Interest ONLY loans – Westpac and St George increased pricing on all loans, owner occupied loans and investment property loans, with an interest only repayment structure by 0.08%. (NAB already have this differential pricing in place, with interest only loans being 0.1% more expensive than principal & interest loans). CBA have also flagged their intention to introduce this differential pricing by informing the market that they will be introducing specific interest only products and pricing in March 2017.
  • Line of credit – CBA, ANZ, Westpac and St George all increased pricing by 0.15%

So what can do about this – firstly be aware of what the changes are if they affect you. Secondly review the market or get assistance in reviewing the market, to see if your particular situation is in line with the other providers. Whilst these changes may appear to be fairly small, this is not the first time they have increased rates in this manner and it all has an impact on your overall loan cost. If any of you would like assistance in evaluating where your pricing and offering sits in comparison with the current market, LogiX Financial are always happy to perform a debt review free of charge. Be Proactive.

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  • Posted by LogiX Financial
  • On February 3, 2017
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Never shy to bring an exciting material palette to Never shy to bring an exciting material palette to the bathroom, award winning Decus Interiors designed this eye-catching powder room. Playing on a palette of purple from the luxurious Cipollino marble vanity, design highlights also include Articolo lighting’s wall sconces and the Abal Mirror by MatterMade from Criteria Collection.
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25A Fitzwilliam Road, Vaucluse - Expansive, stylis 25A Fitzwilliam Road, Vaucluse - Expansive, stylish and luxuriously appointed. This 5 bedroom, modernist masterpiece is on approx 800sqm of land, just moments to Parsely Bay. 
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Flawlessly crafted and built to the highest specification. Designed by award-winning architect Brian Meyerson, with interiors by Shellee Gordoun and landscaping by Peter Fudge.
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5 BED | 4 BATH | 2 CAR | POOL - 25A Fitzwilliam Ro 5 BED | 4 BATH | 2 CAR | POOL - 25A Fitzwilliam Road, Vaucluse - Expansive, stylish and luxuriously appointed. This modernist masterpiece is on approx 800sqm of land, just moments to Parsley Bay
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Flawlessly crafted and built to the highest level of specification, no expense has been spared in creating a sophisticated residence; one that enjoys multiple living zones, resort-style alfresco entertainment areas and a well-considered floor plan, laid out over two sun-filled levels. Designed by award-winning architect Brian Meyerson, with interiors by Shellee Gordoun and landscaping by Peter Fudge.
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With global sales exceeding USD$150 Billion, 2020 With global sales exceeding USD$150 Billion, 2020 was a record breaking year for Sotheby's International Realty. This outstanding result was achieved by our 24,000 sales associates at 1,000 offices, in 75 countries/territories.
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Opportunities like this don't come along very ofte Opportunities like this don't come along very often. An entire block of 8 strata apartments in the heart of Bondi Beach. A well maintained Art Deco building, 'Milton Hall' at 50 Roscoe Street presents an incredible investment and/or development opportunity.
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We love getting feedback from of our clients. For We love getting feedback from of our clients. For this wonderful family in Bellevue Hill we both sold them a home and then sold their home. They experienced our services as both a buyer and a seller.
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Investors and Developers - here is a rare opportun Investors and Developers - here is a rare opportunity to purchase an entire block of 8 strata apartment in the beating heart of Bondi Beach. A well maintained Art Deco building, 'Milton Hall' at 50 Roscoe Street is a short stroll to the sand and moments to Bondi's vibrant cafes, restaurants, shops and bars.
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Point Piper lifestyles. With the Royal Motor Yacht Point Piper lifestyles. With the Royal Motor Yacht Club directly across the road, this exquisite Art Deco apartment has a world class location, exclusive finishes and house-like proportions. See our bio for further info. 
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Full of period features, including this detail in Full of period features, including this detail in the original Terrazzo floors, this oversized, top floor, Art Deco apartment was sold prior to auction last night. Low interest rates, motivated buyers and limited stock are all contributing to the high demand we are seeing for properties of this calibre. Contact us for further information.
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According to Damian Cooley in an article on the SM According to Damian Cooley in an article on the SMH's Domain website today "The Market is Booming". Our opinion is the same. A combination of high buyer demand, limited stock and confidence in the market seems to all contribute to the current record breaking auction clearance rates. 
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Tel: 02 8355 6783
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Double Bay NSW 2028

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