Macquarie Bank Freezes Trust and Company Lending
Macquarie Bank has announced a freeze on new loan applications for borrowers using trusts or companies, effective from October 31.
This decision will complicate financing for developments and commercial projects, and may have a significant impact on the investment market.
According to PRD Real Estate chief economist Asti Mardiasmo, the news will shake the investment market, as other lenders could follow Macquarie's move to halt trust and company lending.
Existing loan arrangements will remain unaffected, but new applications will no longer be accepted.
The bank cited rising application volumes, investors' borrowing strategy, and the increasing complexity of lending to these structures as the reasons for the freeze.
Author's summary: Macquarie Bank freezes new trust and company lending.
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