CUA seeks property investors with newly eased lending restrictions

The CUA has launched an ‘investor only’ home loan - and also announced that it has eased lending restrictions.

Andy Rigg, CUA chief operating officer for member services, said the moves were part of the credit union’s plans to attract more investors.

They currently make up just under one-quarter of CUA’s home loan portfolio.

“While investor activity appears to have slowed down across the market, there are still plenty of investors shopping around for better value and an opportunity to get into the market,” Rigg told the Australian Broker website.

The Kick Start Variable Home Loan for Investors is a two-year introductory loan.

It will carry an interest rate of 3.99 percent p.a. (comparison rate 4.37 percent p.a.).

It will be available to new investors taking a loan with a minimum value of $350,000.

A maximum loan to valuation ratio (LVR) of 90 percent (inclusive of lenders mortgage insurance) will apply to the loan.