CBA / Genworth - SA/NT Post Code Restrictions.

New LVR restrictions are being introduced for some postcodes as of the 01/11/2014. A maximum base LVR of 90% (92% after LMI capitalization) will apply to all Category 3, 4, and 5 Home and Investment Home Loan and Line of Credit applications where any security property is located within the postcodes listed. Please see the affected postcodes for SA/NT?

  • 5113 - Davoren Park, Edinburgh North, Elizabeth Downs, Elizabeth North, Elizabeth Park
  • 5608 - Whyalla Norrie, Whyalla Stuart
  • 0812 - Anula, NT, Karama, NT, Leanyer, NT, Marrara, NT, Wulagi, NT, Buffalo Creek, NT, Holmes, NT
  • 0836 - Girraween NT, Herbert NT, Humpty Doo NT
  • 3500 - Mildura, Mildura West
 
CJ has been too busy

ta
rolf

Sorry guys!

In reality this doesn't affect many people, the only segment of the market I see being hit by this is the 95% LVR FHBer with no CBA history customers - and they have plenty of other avenues to go down.

I would be interested to see the logic behind the 5113 restriction, whether CBA has been receiving higher default levels in that particular postcode, or specifically sections of it.
 
its an interesting change to policy, CBA have for a long time now been able to advertise they dont have postcode restrictions to any LVR. I wonder what made them make this change rather than just ratcheting up their credit score for those postcodes.
 
its not genworth, or genworth have their own postcode listings which lenders with DUA override, as they override other genworth criteria like the plug rate for servicing etc.
 
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