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Heritage launches loan splitting product for ‘rentvesting’ FHBs

Press coverage 4 March 2020 Summary of published coverage
Heritage launches loan splitting product for ‘rentvesting’ FHBs

Heritage Bank extended its Family Guarantee home loan to first home buyers purchasing investment properties, splitting the borrowing across two loans so that a family member’s property secures only part of the debt and lenders mortgage insurance is avoided. The bank cited PIPA research showing 34 per cent of first home buyers were rentvesting, alongside ABS figures putting the number at about 340,000 Australians.

Reported by

Madison Utley, Australian Broker, 4 Marc

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