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Oct142013

01:13:09 am

More Banks Offering Low Deposit Home Loans











He says 73 per cent of local lenders have increased the loan to value ratio view publisher site (LVR) on mortgages to 95 per cent or higher, requiring a five per cent deposit or less. The LVR is the maximum mortgage offered as a percentage of a property's value. Only 68 per cent of loans offered last year had such a high LVR. It dropped as low as 49 per cent in 2010 after the GFC. In contrast, the Reserve Bank of New Zealand from October 1 is requiring its banks to restrict high LVR mortgages in an attempt to take the heat out of New Zealand's property market. This will limit NZ banks to offering 10 per cent of their home loan portfolio in high LVR mortgages - considered to be 80 per cent or more.
For the original version including any supplementary images or video, visit http://au.news.yahoo.com/thewest/business/a/-/national/19089226/more-banks-offering-low-deposit-home-loans/







Australian home loans drop 3.9 pct in August




The Australian Bureau of Statistics (ABS) reported the number of owner occupied housing finance commitments fell to 49,912 in August, from 51,927 in July. Total value of dwelling finance commitments fell 1.2 percent in August, seasonally adjusted, to 23.84 billion AU dollars (22.57 billion US dollars). Economists had expected the number of housing finance commitments to fall 2.5 percent in August. Swiss investment bank USeconomist George Tharenou said the decline in August was a reflection of the election uncertainty over the past few months. "But ... post the election there's been a material improvement in confidence, and I think that will be true too for the home loans market, where we'll see a further acceleration in lending over the next few months because we have record low interest rates as the key driver," he told the Australian Broadcasting Corporation.
For the original version including any supplementary images or video, visit http://www.globaltimes.cn/content/817618.shtml




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