ANZ throws in the towel on negative gearing, CBA follows suit
The major lenders have now all called time on negative gearing.
ANZ has folded to industry pressure and formally tightened its policies around lending to investors using negative gearing.
Informing brokers and home lenders on Wednesday, ANZ’s decision to accept the federal government’s proposed restriction of the tax concession to new builds aligns it with the broader industry.
“Following proposed changes announced in the federal budget, ANZ is updating its lending policies related to negative gearing. ANZ remains committed to supporting customers in their property investment journey,” a spokesperson confirmed.
Citing the need to meet their responsible lending obligations, Macquarie was the first to go, limiting new lending just two days after the federal budget, with National Australia Bank following suit on Monday.
