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.

High LVR lending returns

Staff Reporter 3 minute read

Belinda Luc

Non-bank lenders are seeking to claw back market share with the reintroduction of high LVR products.

Homeloans Ltd yesterday reintroduced lending of up to 95 per cent LVR after 18 months of tighter lending policies.

“Homeloans has made the move back into high LVR lending at this point in time because it now has more of an appetite to take on this kind of business,” Homeloans general manager of third party sales Tony Carn told The Adviser.

Advertisement
Advertisement

Furthermore, Mr Carn said the non-bank lender saw an opportunity in the market.

“There has been a real shortage of home loan options in this space in recent times. And those on offer through the major banks are available on a limited basis,” he said.

Homeloans’ new 95 per cent LVR policy will apply to its MoniPower full doc loans of up to $750,000 in certain locations. It is available only to owner occupiers including new properties and construction loans.

National Mortgage Company and Iden Group also announced the re-launch of 95 per cent LVR lending yesterday.

Fernando Lemos, National Mortgage Company’s head of sales, said he was pleased to be in the position to offer consumers choice and the ability to purchase a home with five per cent genuine savings.

PROMOTED CONTENT


“Good quality clients are being pushed away by the banks on this form of traditional lending.

“We feel however, if a client can demonstrate five per cent genuine savings and satisfy our employment requirements our portfolio quality remains at a high level,” he said.

High LVR lending returns
default
TheAdviser logo
default

 

more from the adviser
WLTH team Neolender CEO reveals broker plans

The co-founder and CEO of new mortgage lender WLTH has revealed i...

tech tool data Business loans to be included in CDR from 1 Nov

The ACCC has revealed examples of the types of business loans tha...

clock Lenders’ turnaround times slowest in three years

The time it takes from loan submission to approval surpassed 25 d...

FROM THE WEB