 Property investors mortgage
ANZ is launching a new mortgage product aimed at investors, just as property investors charge back into the housing market.
The product, ANZ Portfolio, will allow investors to combine a maximum of 12 mortgages under one product. The bank hopes the new product will help people build a number of assets over a long time period.
The timing is perfect, with jsut this week reports showing that investors are again looking to property markets as attractive. First home buyers were dominating housing markets earlier this year, but as the boost to the grant is set to end at the end of the year, and while interest rates are still at historically low levels, property investors see the market and they are already there.
General manager Michael Bock said that investors were cautious about stocks and shares since the financial crisis but property was seen as a safe option.
"We developed ANZ Portfolio to better meet the needs of property investors who are familiar with the market and want to invest for the long term. It’s a simple, convenient solution," he continued.
In April, ANZ won two Canstar Cannex Awards. The group won the awards for the Online Investment Account and SmartyPig, its leading online savings account.
This new product will be hoping to attract investors and increase their scope it the market.
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