Attention First Home Buyers and Investors!
The dream of owning a home or investment property is about to become a little bit more of a reality, as LVR (loan-to-value ratio) lending limits are set to be relaxed.
On 1 January 2018, the Reserve Bank will lift the amount of funds that banks can lend to prospective buyers who have less than a 20 percent deposit. The amount will be increased from 10 percent to 15 percent and will make buying a home more of a reality for those struggling to make the 20 percent benchmark.
This item was posted on 1 December 2017