Banks ease up on LVR rules

Getting into investment housing has become easier, with some major banks and credit unions now lending up to 95 per cent of the value of a property.

That’s great news for those borrowers wanting to capitalise on historically low mortgage interest rates.

You will still need at least five per cent for a deposit, some cash to pay for upfront costs, and the income to service the loan. But don’t worry too much because some banks will help you out there.

Source: The New Daily