AMP Limited
(ASX:AMP) will increase variable rates on all existing investor property loans by 0.47 per cent per annum from September.
The wealth manager says the move is in response to regulator guidelines to limit growth in investor property lending across the market to 10 per cent.
AMP advises all investor property loan applications that have been approved will be subject to the 0.47 per cent increase on settlement.
The company has also advised it will not be accepting new or assessing existing investor property lending applications until later this year.
AMP reported a net profit of $971 million in the 2014 calendar year.
