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03

Australia’s Heritage Bank Halts Investor Lending for Real Estate

By Tony Seruga

Lender experienced a ‘sharp increase’ in investor home loans
Heritage Bank’s temporary restrictions took effect on Sept. 1

One of Australia’s biggest customer-owned banks, Heritage Bank Ltd., has temporarily stopped accepting new loan applications from property investors as it seeks to comply with regulation limiting how much it can expand its investment lending book.

The Toowoomba, Queensland-based mutual is freezing lending to new investor customers as it looks to meet stricter lending conditions put in place by the Australian Prudential Regulation Authority. Regulators have grown increasingly concerned about the risks posed by high and rapidly rising home prices in Sydney, Melbourne and Brisbane, which have fueled record levels of household debt…

Australia’s Heritage Bank Halts Investor Lending for Real Estate

Categories : Real Estate

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