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Teachers Mutual Bank and UniBank have announced they will accept applications for investment properties effective Monday 1 August, following a temporary withdrawal from the market to meet regulatory expectations.
The decision to recommence lending to residential property investors comes after careful consideration of its investment lending portfolio and market conditions.
“Over the past three months we have closely managed our investment lending portfolio which has seen growth slow in line with the bank’s expectations and to meet APRA’s annual 10 per cent guideline.”
“We are pleased to be in a position to return to the market. Our focus now will be working closely with our members and third party distribution channel to address their needs while still adhering to our regulatory responsibilities.”
“To ensure a steady flow of business in this sector we will continue to proactively monitor our growth and adjust our lending measures as needed,” said Mark Middleton, National Manager of Third Party Distribution at Teachers Mutual Bank.
Australian investors will again have access to variable and fixed rate home loans along with a 100 percent mortgage offset option through products such as the Teachers Fixed Option Investor Home Loans and Solutions Plus Investor Home Loan.
Further information on out investment home loan options.