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CBA Tighten the screws further with LVR reductionsQlds007 [7399 Posts]
LVR changes for new Home/Investment Home loans and Line of Credit (LOC)
From Saturday 20 March 2010 we are • changing the maximum base Loan to Valuation Ratios (LVRs) for new Investment Home Loans (including Top Ups) and new LOCs; and The new maximum base LVRs are: Cheers Yours in Finance Email for a free Residex report on any property. Banker [352 Posts] Worth pointing out that the 80% restriction for personal investment relates to 'not property' transactions. E.g. if purpose is selected as 'purchase an investment property' then you are fine at 90% plus LMI. CBA still has no cash out policy for lines of credit at 80% and lends 95% plus LMI for existing customers buying owner occupied properties. They are almost writing 50% of all loans in Australia at the moment - Qlds007 [7399 Posts] No NAB Do thru their 4 start brokers (95% less LMI) Anz current max 90% less LMI but they are looking at pushing back into the 95% landscape. Westpac - Only for existing customers otherwise 87%. Still a few non major lenders offer such a product. Cheers Yours in Finance Email for a free Residex report on any property. Banker [352 Posts] Cba do 95% plus lmi to a max of 97% total: if you've had a credit facility for more than 6 months with good conduct. Credit card is the easiest qualifier - even if you havnt used it ... Must be owner occupied transaction - investment is 90% Paddyomall [16 Posts] Might be a stupid question but how does the bank know whether you live there or not? Could there not be a reason that you had intended to move in there but it becomes unfeasible and you dont? |
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