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Reserve Bank to loosen mortgage lending rules
Loan-to-Value (LVR) changes on mortgage lending to be eased.
AI summary
The Reserve Bank is easing Loan-to-Value Ratio (LVR) restrictions from 1 December, allowing banks more flexibility to lend to home buyers with smaller deposits.
For owner-occupiers, the share of new lending with an LVR above 80% will rise to 25%. For property investors, lending with an LVR above 70% will double to 10%. This follows the introduction of Debt-to-Income (DTI) rules, which remain unchanged. The move aims to improve credit access, though experts believe it's unlikely to cause major house price rises.
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