All Topics / Finance / Westpac tighten Policy for investors – AGAIN

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  • Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Another kick in the teeth for Investors with Westpac announcing a change to their 90% + lending for investors.

    New borrowers that require a 90% and above lvr (even if they are using equity in another property) will be required to have at least 20% equity in another property.

    This is even with genuine savings and includes existing customers.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970

    Thanks for the info… very happy to see tightened lending criteria among major banks.  I hope it will drop even further to 80%
    This will have a big impact on property prices in the future…and  will eventually cool down the IP market.

    Profile photo of sweeper2009sweeper2009
    Member
    @sweeper2009
    Join Date: 2009
    Post Count: 22

    maybe they see something big is coming and don't want to over expose on property.

Viewing 3 posts - 1 through 3 (of 3 total)

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