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CBA lowers LVRs for investors

09/03/2010

Commonwealth Bank will reduce the maximum loan to valuation ratio to 80 per cent from 90 per cent on a range of investment home loans. The lower LVRs apply to loans for "personal investment" purposes. This includes newly built homes built “on spec”, or for immediate sale, or to fund a share portfolio or other personal investments.

CBA advised mortgage brokers of the new policy, and which was reported by the Herald Sun. Banks looking to curtail lending growth, including CBA and Westpac, the market leaders, have reined in LVR thresholds over recent months, though smaller lenders looking for growth (and with easier access to funding) may be able to step into the breach.

Source: Banking Day



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