Investment lending requirements eases
The investment lending landscape appears to be softening. Not long ago APRA starting clamping down on banks and insisting that they reduce the growth in their lending to investors. Westpac was the first to reduce their LVRs to 80% allowed to investors to the detriment of many borrowers.
After losing market share and bringing their investment lending loan book within acceptable parameters, Westpac have now eased the policy on LVRs. They are now allowing lending up to 90% for investors. This is good news for property investors that have assets tied up with either Westpac or St. George which they own.