The Commonwealth Bank will stop accepting refinancing applications for investment home loans from next week.
The bank has written to mortgage brokers on Wednesday to advise of the suspension, which takes place from Monday, February 13.
In its message, the bank says it is committed to “upholding the highest level of professional standards, and meeting our responsible lending and regulatory obligations” and it will suspend the acceptances “to ensure we continue to meet our commitments”.
Investor and owner-occupier loan applications will not be affected and investor refinance applications submitted prior to February 13 will be processed as usual.
The decision comes a day after CBA’s subsidiary, Bankwest, said it had stopped accepting new business from customers seeking to refinance their investor home loans.
