ANZ Tightens Investor Loans, Anz Investor Lending Policy Changes to New Builds
ANZ investor lending policy changes now mean post-12 May 2026 investment properties will only receive negative gearing treatment in serviceability assessments if they qualify as new builds. For investors, that shifts how much they can borrow under ANZ’s calculator and may change whether an application still fits the bank’s lending test.
Existing properties purchased before 12 May 2026 will retain eligibility, while refinance applications for eligible existing properties and new builds will continue to qualify for negative gearing treatment in servicing calculations. Brokers may also need to supply extra information when eligibility is unclear, which puts more weight on how each loan is structured before approval.
12 May 2026 at ANZ
12 May 2026 is the line ANZ has drawn through its investor lending policy. The bank said applications not unconditionally approved by close of business on 28 May 2026 may be reassessed under the new criteria, so borrowers still in flight face a narrower servicing outcome if their purchase sits outside the new-build rule.
28 May 2026 is the cutoff ANZ set for in-flight files, and that creates the immediate pressure point for brokers and borrowers. A loan that has not cleared unconditional approval by then can move into the revised assessment framework, even if the application was already underway when the policy changed.
Macquarie and NAB Reprice Servicing
18 May was the first move in the latest lender response, when Macquarie removed most negative gearing tax add-backs from its serviceability calculator. Macquarie tied the change to the federal budget’s proposed tax changes and its responsible lending obligations, saying, “In light of the Federal Budget, we have made changes to our investor lending policy to ensure we continue to comply with our responsible lending obligations” and “These changes help us ensure property investors are able to afford their loan when the changes to negative gearing come into effect.”
26 May brought NAB’s recalibration of its servicing calculators, showing how quickly lenders are adjusting before the proposed federal overhaul is legislated. NAB said in-flight applications already holding unconditional approval by 26 May would be honoured, while other applications may be reassessed if they rely on post-budget contracts and fail the new-build eligibility test.
Suncorp Bank and Broker Files
27 May 2026 was Suncorp Bank’s deadline for applications not unconditionally approved by close of business, which it said would be reassessed under revised criteria. The bank said negative gearing will only apply where the property is deemed eligible under its revised rules, while deductions against rental income will continue to be included in serviceability calculations.
For brokers, the practical issue is classification. ANZ’s rule only keeps negative gearing in the servicing math for residential investment properties purchased after 12 May 2026 if they are newly built dwellings, so any file built around an older property may need a fresh pass before credit teams sign off. That is the point where borrowing capacity can move, and it is why the next review of an investor loan may hinge on purchase date and property type rather than just the headline rate.
