CommBank reopens property investor refinancing

The Commonwealth Bank of Australia (CBA) has announced it is once more taking in new investor refinancing.

It had put the brakes on investor lending last February.

The bank will now accept new refinance applications for investment home loans with principle and interest repayments.

“As Australia’s largest lender, Commonwealth Bank is committed to meeting our customers’ needs as well as ensuring we continue to meet our regulatory requirements. 

“We continuously review and monitor our loan portfolio across all segments, including investor home lending,” a CBA spokesperson told Australian Broker.

“These changes follow APRA’s announcement in March for banks to reduce the number of interest only home loans, and are aimed at encouraging customers to select principal and interest, where appropriate, to help them own their home faster.”