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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, making it easier to secure a mortgage with a smaller deposit. This change aims to improve access to credit while the housing market remains stable.
New bank lending limits will be:
- Owner-occupiers: Up to 25% of new lending with an LVR above 80%.
- Investors: Up to 10% of new lending with an LVR above 70%.
Debt-to-income (DTI) restrictions will remain unchanged.
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