Sintex is ramping up its loan-to-value ratio (LVR) bands and limits to give its introducers more choice and opportunity to sell their own brand.
Effective from today, Sintex will increase its maximum loan amounts from $1.5 million to $2 million.
Sintex general manager Cathy Dimarchos said the company is also considering an LVR of 70 per cent for loans up to $1.5 million.
Currently, the company will give 70 per cent LVR on loans up to $1 million and 50 per cent LVR for loans between $1 million and $1.5 million.
“Loans above $1.5 million to $2 million will be at a 50 per cent LVR with conditions applying,” Ms Dimarchos told The Adviser.
“None of the loan parameters will change. So we are still offering long term funding (20 years) for a long term asset.
“Sintex has been able to stay positive throughout this past 18 months and we want to share that positivity with our clients by giving them more choice. These changes to our LVR bands and limits highlight the strength of our business which has seen very little change in the past year.”
The financial services ombudsman has changed its rules after the ...
One in two borrowers does not believe banks always have their bes...
Here’s the weekly round-up of the biggest news stories from acr...