You can be forgiven in not knowing what bank will fund what and what bank is using what LVR at any one time. Not to mention interest rates.

Bank policy is now changing almost daily. I have just heard that Westpac and its related subsidiaries are no longer lending to small superfunds for property purchases. This is no cause for alarm as it is liable to change again next week.

Banks are no longer looking to the RBA for guidance on interest rates. In the old days banks move their rates along with RBA cash rate movements. This is no longer the case. Banks are acting independently and refer to interest rate rises as “increased cost of funds” but I really think it is just profit taking in most cases.

A couple of months ago we could offer clients “No Deposit Home Loans”- with the tightening up of LVRs they have now been changed to “Low” Deposit Home Loans.

My take on all this is “Carpe Diem”. – “Seize the day”! When you can get finance to expand you portfolio it is best to jump on it as the banks may take that away from you tomorrow.