After last month’s pounding for inventor loans, we’re into phase two today:
Bankwest, a subsidiary of Commonwealth Bank of Australia, is slugging existing interest-only owner occupiers with increases of 35 basis points, in the latest move to rein in higher risk loans.
The lender is decreasing lending on selected principal and interest products by up to 15 basis points to encourage property buyers to choose, or switch to, packages requiring principal repayment.
