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Bank rules to change regarding Commcerial interest rate on rental properties

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  • Bank rules to change regarding Commcerial interest rate on rental properties

    Read an interesting article on Stuff today regarding the new lending rules that are to come in effect on Jun 30 for those that have mortages on more than 5 rental properties.

    Link below
    http://www.stuff.co.nz/business/mone...bank-clampdown

    I would be interested in mortgage brokers comments on the article ie what would the likely interest rates be?

    Cheers

    Charlotte 30
    Last edited by charlotte30; 23-02-2014, 01:30 PM. Reason: grammar

  • #2
    Sounds like a dream for the banks, they get to change the label on a bunch of customers from 'retail' to 'commercial' and charge them higher interest rates and higher fees, and blame it on the RBNZ!
    Squadly dinky do!

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