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ANZ lists 50 no -go investor postcodes

The ANZ Bank has a list of more than 50 postcodes, concentrated around Western Australia, Queensland and NSW mining towns, amid concerns of further falls in property prices.

In general they will only lend in these areas with lower loan to value ratios and classify these locations as “not acceptable” for providing lenders mortgage insurance.

The number of postcodes has increased from 30 in 2013 according to the Australian Financial Review.

 

ANZ No Go

Source: Australian Financial Review

 

The AFR also reports that “Blacklists” of suburbs considered ‘high risk’ are also being reviewed – and extended – by other lenders to protect their balance sheets against loan defaults if house buyers breach their loans.

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Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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