AMP halts lending to property investors

AMP has today announced a freeze on lending to property investors while existing property investors can expect a 47 basis point increase in mortgage rates from the 7th September 2015.

AMP Limited acknowledges the changes are in response to APRA’s crackdown on investor housing loan growth and will review the ban at the end of this year.

» AMP slaps ban on loans to property investors as expert sees end to housing bubble – The ABC, 29th July 2015.
» AMP Bank stops lending to housing investors, jacks up rates – The Sydney Morning Herald, 29th July 2015.




5 Comments

  1. Here we go with the biggest “pump and dump” in history. None of this silly floating interest rates stuff, we need to use our power to suck the population into borrowing and then bleed them dry.

    Then blame the foreigners.

  2. “Macquarie Bank has been actually buying home loan portfolios that have been originated by other organisations,” Quote from the ABC proves that the banks never learn. The on selling of their loans as Mortgage Backed Securities & Collateralised Debt Obligations takes the risk off the originator’s books but causes a hell of a mess when they go bad. It creates global networks of banks and financial institutions that all implode together as in the start of the GFC.
    AMP has finally woken up to the fact that investors in a collapsing market do not have the same commitment to paying a mortgage that owner occupiers do. Unlike the other vampire squids sucking the life blood out of our economy.

  3. Well here’s the turn. We should take an independent snapshot of real estate websites now so we can see the real change in number of houses listed rather than the cooked RE industries numbers.

  4. Oh boy this sure sends a signal to the 2015 “we have a property bubble” epiphany!

    I mean, a bank that is banning “housing investment”? Whoda thunk it!

    Could it be the catalyst to start the bust?

  5. Even if you could satisfy the new banking criteria for investor loans you would have to have rocks in your head to commit to one.
    By the sounds of it the chinese Stockmarket is putting pressure on sales as well.

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