Another Lending reducing Max LVR

[Bradsdad]

Just got this in from FirstMac....

Effective Thursday 12 March 2009, the maximum LVR on all FirstMac home loans for new and existing business (excluding FightBack) will be 90% (including LMI capitalisation).

The maximum LVR on the FightBack home loan will remain at 80%.


The way things are heading this could well be the norm in times to come.

 

[chilliaa]

Just got this in from FirstMac....

Effective Thursday 12 March 2009, the maximum LVR on all FirstMac home loans for new and existing business (excluding FightBack) will be 90% (including LMI capitalisation).

The maximum LVR on the FightBack home loan will remain at 80%.


The way things are heading this could well be the norm in times to come.

Yip sounds good to me, another sign that responsible lending is on its way to australia before its too late.
(and before you bag me with this, remember those of you with property already, at the end of the day, its about asset preservation, the last thing we need is a bunch of gung ho investors buying properties that have'nt adequately accounted for lending in their risk strategies (ps im not accusing anyone here of such policies).

 

[BV]

The way things are heading this could well be the norm in times to come.

Yes, and they'll probably demand to see a savings history as well just like the good ol days

 

[Token Funder]

Anyone want to start a pool on when St George pull their 100% product?

 

[Spectre]

soooooooon