ANZ today announced interest rates for residential investment property loans will increase to manage investor lending growth targets and in response to changing market conditions.

ANZ said there was no change to other variable lending rates including the standard variable rate for owner-occupied home loans or for business lending. Fixed rates for new owner-occupied home lending will be reduced by up to 0.40 per cent.  

Effective Monday, 10 August 2015, ANZ’s variable residential investment property loan (RIPL) index rate will rise by 0.27 per cent to 5.65 per cent.

Fixed rates for new residential investment lending will also increase by up to 0.30 per cent.

“Although interest rates for residential property investors are at very low levels historically, the decision to raise interest rates for residential investment lending has been difficult but necessary in the current environment,” ANZ CEO Australia Mark Whelan says.

“It allows us to balance the mix of our lending between owner-occupied and investment lending as well as the impact of changing market conditions. This includes a decision to cut fixed rates for new owner-occupied home lending.

“This is a considered decision that takes into account our customers’ position and the criteria we look at when setting rates including our competitive position, our regulatory obligations and the state of the residential property market.”

ANZ has also introduced a series of other measures recently to improve the mix between investor and owner-occupied lending. For residential investment lending, these include reducing interest rate discounts, increasing the deposit required to at least 10 per cent and increasing interest rate sensitivity buffers.

Source：http://www.apimagazine.com.au/api-online/news/2015/07/anz-increases-investor-loan-rates