Nice one St.George Bank ..... :( just found out that they've changed the rules on your portfolio loans and that they are no longer offering ANY loans to Australian expats working overseas so even though we've paid down our mortgage over $A110,000 over the last 12 months they will not allow us to purchase an additional investment property in Sydney.
Oh and because we've locked in some of our loans until 2020....cant release the equity in order to refinance anywhere else either.
I've always heard about Australian banks being assholes when the going is tough......we're doing great and paying down our mortgages every month like clockwork an additional 10k off the principal over and above regular payments only to find this bullshit about how 'you've changed your mind but we're locked in so cant go to the competition'.
I'll be making sure everyone is aware of what a raw deal St George is giving to aussies expats working hard overseas so they dont get caught in the same situation as us.
Bring on 2020 asap and we'll be taking our business elsewhere.