December 19, 2017
Changes in lending policy for 2018
As we lead into Xmas there are some changes in the lending world to be wary of for January 2018. The Reserve Bank recently relaxed the restrictions slightly, and the major banks have now started making changes to their policy.
For stand alone residential investment properties you can now obtain finance with 65% LVR and 35% deposit (down from 40%), and banks will likely have a little bit more leeway with available funds over 80% LVR. But it remains to be seen just how much extra high funding availability there will be.
We still have low deposit options with less than 20% including new build options and Welcome Home Loans, talk to us to find out if you qualify.
For investors, we still have non-bank options for borrowing over 65% LVR, plus major bank new build/construction loan/turn key options available to 80% LVR.
Have a happy and safe Xmas!