u/Majestic_Job_7948

Looking at refinancing my investment property to obtain an equity release

Was originally going with Macquarie through a broker but have been told they no longer waive notional rent for borrowers living with family (even when given a letter confirming same). This appears to be a very recent change

From my research so far, I have only found non-bank lenders that waive notional rent (such as Pepper Money and Rate Money). Of course, their interest rates are much higher (7.29% for 80% LVR IP with Pepper Money!)

Has anyone had any luck with banks other than Macquarie waiving notional rent, or non-bank lenders that don’t have crazy high interest rates?

Thanks!