AMP Bank has announced it will be pulling out of all investment lending at this point in time, in response to regulator guidelines to curtail investor growth.
In response to regulator guidelines to limit growth in investor property lending across the market to 10 per cent, AMP Bank is adjusting its investor property lending rates.
AMP will be increasing variable rates on all existing investor property loans by 0.47 per cent per annum from 7 September 2015. All investor property loan applications that have been approved will be subject to the 0.47 per cent increase on settlement.
New investor property lending
AMP Bank will not be accepting new or assessing existing investor property lending applications from today. This is expected to last until later in 2015, depending on market conditions.
Owner occupied property lending
To demonstrate our commitment to helping Australians own their homes, effective 27 July we reduced interest rates for new owner occupied variable loan rates on the AMP Bank Professional Package to as low as 4.12 per cent per annum.
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