Is Xiangzhuang sword dancing intended for Peigong? Australia's four major banks raise prices and it is difficult for Chinese to buy houses
"Chinatown"-Official media of Chinese Australians
It just came out last week: ANZ and Commonwealth both announced that the investment housing loan interest rate will increase by 0.27% on the same day! No, another bank, Westpac, is following up on overseas real estate Restrictions on investment behavior.
Recently, Westpac Bank announced that it will lower the loan ratio of investment loans to 80%. According to Westpac, the purpose of this is to control the annual growth rate of investment credit in Australia within 10% and to comply with the regulations of the Australian Regulatory Authority. This means that more buyers have to prepare more down payments to purchase real estate.
At present, Westpac has tightened the qualification requirements for lenders, and the bank's management of loan brokers has sent a letter to those brokers who have "many" overseas investors, and put forward the current requirements for overseas investors. But the letter did not specify what credit standards would trigger the review.
In the letter, Westpac Bank proposed that for all future housing loan applications, the main applicant must provide an Australian address. This means that the main applicant for the loan must hold a valid Australian visa and must comply with the relevant regulations of the FIRB (Foreign Investment Review Board).
Australia's Broker said about Westpac's policy reform that the most obvious impact is the lucrative Chinese investor market; in the past two years, China has surpassed the United States to become Australia's number one foreign investment force, with a total investment of more than 200 billion in Australia. Australian dollar. The housing markets in Melbourne and Sydney have been booming this year. Westpac's move undoubtedly "blocked" its own financial path, but on the other hand, it may also "cool down" the housing market.
In addition, Westpac Bank will also review loan investment applications to ensure that Brokers are able to comply with the agreement. Westpac said: "This is just a reminder to those Brokers who have a high proportion of non-Australian residents. When submitting a loan application, don't forget that the applicant's information needs to include an Australian residential address."
On the other hand, Brokers were also told that price competition for Westpac investment loans has now ceased. Chris Foster-Ramsay, the general manager of Capital Home Loans, said that Westpac no longer allows bargaining on the interest rate of investment loans. When applying for a loan, some brokers could also provide some more cost-effective interest rates. Now they are treated equally.
#NAB also started to act#
Australia’s NAB Bank raised interest-only mortgage interest rates by 0% on Monday. This change means that NAB's interest-only housing loan customer interest rate is 29%. This will have an impact on current Interest-only customers and future customers.
Recently, banks in Australia have moved frequently, and they have shown that they are going to "smash" to the end with overseas investors. This is mainly to face the regulations of the Australian banking regulatory agency.
News compiled from "The Australian Financial Review"
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