Another kick in the teeth for Investors with Westpac announcing a change to their 90% + lending for investors.
New borrowers that require a 90% and above lvr (even if they are using equity in another property) will be required to have at least 20% equity in another property.
This is even with genuine savings and includes existing customers.
Richard Taylor | Australia's leading private lender
Thanks for the info… very happy to see tightened lending criteria among major banks. I hope it will drop even further to 80%
This will have a big impact on property prices in the future…and will eventually cool down the IP market.maybe they see something big is coming and don't want to over expose on property.
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