Borrowing Limit on PPOR - Resi lending

Good morning,

If I am planning to buy a PPOR for around 6 million dollars. Will banks lend 80% on 6 million if I have servicing capacity or under the residential lending limit, only 3 million per security.

Thank you for your help.

 

Provided there is servicing the loan size itself is not a problem for many but the LVR% is generally capped up to 70%.

CBA will go up to $5m at 80% as an example and cap to 70% above this.

Exceptions are possible for strong applications usually via private bank

 

This is considered a luxury property, different bank will have different LVR restrictions.

I highly doubt you'll find a lender that will go 80%

 

WPC private may do this.

 

CBA has given me $4.5 mill for investment on 2 securities. I will ask bank to put me on Private Banking. Thanks for the idea.

 

I am already WPC. if CBA doesnt work out. I will talk to Westpac Private banking. Thank you for your reply.

 

Thanks Tony. BDM is on leave, will find out about it in a weeks time.

 

Thank you Richard for your suggestion. I am approaching private banking.