Leon Chen
Dec 1, 2023
1. On November 10th, ASB increased the calculation ratio of rental income for properties purchased before March 27, 2021, from 65% to 70%. This means that if the weekly rent is $100, the currently available calculated income is $70. This is the second bank, after ANZ, to raise the percentage of rental income that can be used.
2. On November 20th, ANZ adjusted its cashback policy. Currently, customers whose contracts have not yet expired (currently three years) are required to return all cashback in full. Cashback will now be returned proportionally: less than 1 year: 100%; 1 to 2 years: 66%; 2 to 3 years: 33%.
3. On November 24th, ANZ recently lowered its loan assessment requirements, reducing the UMI (Uncommitted Monthly Income) requirement. With income remaining constant, the loan amount will increase slightly.
4. ASB has lowered the UMI (Uncommitted Monthly Income) requirement for loans with an LVR below 60%. Loan amounts will increase slightly if income remains constant.
5. The OCR remained unchanged at 5.5%, but the central bank indicated that further interest rate hikes could not be ruled out in the future.
6. Some banks adjusted their loan interest rates in November. The latest interest rate information is shown in the figure. The actual interest rate will be lower than the listed rate. Please contact me for details.
Recent subtle adjustments to loan policies indicate that banks are gradually relaxing their control over loan amounts.
