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Even more problems for investors in blacklisted postcodes

New legislation proposed in last week’s budget would extend APRA’s (the Australian Prudential Regulation Authority’s) ability to control the non-bank sector.  location smart phone mobile area map techonolgy direction lost help guide

This would put even more pressure on investors who have bought in suburbs blacklisted by the traditional banks and who are looking for alternative lenders.

The Treasurers budget speech suggested that new legislation could allow APRA to “differentiate the application of loan controls by location.”

“Non-ADI’s would also be disinterested in those suburbs, but they may be getting strong inquiries from borrowers who have fallen out of favour with banks,” private lender

Development Finance Partners’ Matthew Royal told the Australian Financial Review.

“Those postcodes would be those which could be overheated … had a lot of borrowing.”

In general these suburbs had similar characteristics – a large number of new high-density developments.

The Black List

Last year the AFR published NAB’s confidential blacklist of 120 suburbs which included Sydney areas like the CBD, Homebush and Parramatta, Melbourne CBD, Brisbane CBD and regional WA and Queensland.

All lenders have similar lists – suburbs where they are not keen on lending.

NAB BlackList Postcodes

Source: AFR



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About

Rita is a Property Strategist with an accounting background and has over 30 years’ experience in Commercial Banking for one of the Big 4 Banks. She is a passionate property investor who enjoys helping her clients create wealth through property investment using Metropole’s strategic approach whilst drawing on both her banking and personal experiences. Rita is known for her honesty and integrity and willingness to assist her clients achieve their goals through property investment.
Visit www.MelbourneBuyersAgent.com.au


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