From Mortgage Professional Australia.
National Australia Bank will announce a rate rise for a group of its property investors, according to the Australian Financial Review.
Street Talk has revealed that NAB will up rates by 0.15 of a percentage point for property investors who are paying off principal, as well as interest.
The rate increase is part of a new tiered home loan pricing structure and expected to come into effect on April 4.
The move comes as the bank launches a new mortgage pricing structure where it will group its home loan products by both borrower type (owner-occupier or investor) and loan structure (interest-only or principal and interest).
