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The Adviser recently conducted a snap-poll of its online readers asking for their views on APRA’s investment lending crackdown and what impact it would have
APRA's recommendations to try and take the heat out of investment lending growth have been met with mixed feelings by brokers.
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While the majority see responsible lending as a good thing, those not experiencing the booms of Sydney and to a lesser extent Melbourne, have mainly a different view.
What isn’t up for debate however is that with lenders changing policy and pricing on a regular basis with regards to investment borrowers, the role of a good mortgage broker has never been more important.
Access to a wide range of lenders will become increasingly important and as more mainstream lenders look to wind back from certain levels of investment lending, brokers could very well lead their investment borrowers to the products and services of the non-banks who aren’t governed by ASIC.
When asked whether brokers think they will write more investor business with non-banks as a result of APRA’s crackdown and major banks changing
their policies a resounding 64 per cent of the 767 respondents said “yes”. Here we share just some of the hundreds of comments we received from brokers…
