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Effective 6 July 2017, Queenslanders Credit Union will temporarily stop accepting new home loan applications for investment purposes in an attempt to slow lending to this segment of the market.
The changes are in response to strong recent home loan growth at Queenslanders and are required to ensure the organisation’s investment lending remains within regulatory growth benchmarks.
The change will not affect existing investment loans and applications submitted prior to 6 July will proceed to settlement. The change is a temporary measure and Queenslanders’ ability to lend for investment purposes will be reassessed over coming months.