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.

Bank boosts LVR

Staff Reporter 3 minute read

Jessica Darnbrough

Competition is heating up in Australia's banking sector, with one second tier lender announcing it will lend up to 95 per cent LVR.

ING DIRECT yesterday announced it would increase its loan to value ratio by 5 per cent.

Effective immediately, the new offering will be available to all new purchases for owner occupiers and investors.

Advertisement
Advertisement

The maximum LVR for refinances will also increase to 90 per cent plus capitalised premium for LMI deals.

ING DIRECT’s head of mortgage products Ray Esho told The Adviser that the changes were made following extensive consultation with the lender’s broker partners.

“The market seems more comfortable with what are viewed as higher LVR settings as compared to the past couple of years” Mr Esho said.

“This initiative will support our strong plans for growth in 2011. As the fifth largest retail bank in Australia, it’s important we offer alternatives to the major banks and these changes this allow brokers to offer ING DIRECT products to more of their customers.”

PROMOTED CONTENT


Bank boosts LVR
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

default

 

more from the adviser
damian zaleski RYyr k3Ysqg unsplash

Breaking News

GetCapital launches broker platform

The business lender has rolled out a new broker platform, as it h...

fixed rate

Breaking News

Loyalty tax issue flagged to MPs

Brokers are key to holding lenders to account to ensure borrowers...

trade deal contract

Breaking News

Connective launches trail book marketplace

The aggregation group has announced a new arrangement with a spec...