Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Lenders announce LVR changes

announce announce
Lucy Dean 3 minute read

A non-major lender and a mortgage manager have announced changes to maximum LVR ratios.

As of 18 July, principal and interest (P&I) loans with Adelaide Bank will revert to a maximum LVR of 90 per cent, including the lenders mortgage insurance (LMI) premium.

The LVR on interest-only (IO) loans will remain at a maximum 70 per cent LVR.

Better Mortgage Management

Advertisement
Advertisement

Better Mortgage Management also announced a series of changes.

New loans with their Premium Suite policy will be limited to an LVR of 80 per cent if they have an IO portion, while clients with Credit Suite policies for IO loans will need to satisfy a maximum LVR of 80 per cent, including applicable LMI.

Clients on Credit Suite policies for vacant land and construction loans will need a maximum LVR of 90 per cent, also including applicable LMI.

True Blue policy holders with full doc loans will now have a maximum LVR of up to 85 per cent on IO, for both owner-occupier and investment loans.

For the same policy holders paying P&I, the maximum LVR is 95 per cent, including capital LMI.

PROMOTED CONTENT


True Blue Expats and True Blue SMSF policy holders are limited to P&I repayments only.

Meanwhile, Flexi Elite policy holders with P&I loans will need a maximum LVR of 85 per cent, but will have no risk fee or LMI.

Flexi Elite and Specialist policy holders with full doc investor loans will need to have a maximum LVR of 95 per cent.

[Related: Advantedge lifts variable rates

Lenders announce LVR changes
announce
TheAdviser logo
announce

 

more from the adviser
House of Representatives NEW ta MPs highlight broker concerns in Parliament debate

The Member for Fisher says brokers back the bill repealing resp...

uptick graph Liberty reports surge in new loan originations

The non-bank has reported an 11 per cent growth in new loans writ...

Lleyton Hewitt Andre Agassi ta Tennis legends discuss business resilience amid COVID-19

Andre Agassi and Lleyton Hewitt underscored the importance of bus...

FROM THE WEB