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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 on mortgage lending from 1 December, making it easier for some buyers to secure a loan.
The changes give banks more flexibility:
- Owner-occupiers: The share of new low-deposit (over 80% LVR) lending can rise from 20% to 25%.
- Investors: The share of new high-LVR (over 70% LVR) lending can increase from 5% to 10%.
Debt-to-income (DTI) restrictions remain unchanged. The move is not expected to cause major house price rises.
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