Removing the maximum LVR limit of 80% on all self-employed

Discussion in 'Loans & Mortgage Brokers' started by Hari Yellina, 11th Oct, 2020.

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  1. Hari Yellina

    Hari Yellina Well-Known Member

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    Screen Shot 2020-10-11 at 6.51.59 pm.png
     
    Hari Yellina, 11th Oct, 2020
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Most lenders havent had a SE restriction on LVRs, one or 2 had some context that SE was a higher risk than PAYG......but I guess in COVID times, neither matters, more so what the income is coming from per se in regards to the PAYG or SE industry.

    EG tourism, entertainment etc

    ta
    rolf
     
    Rolf Latham, 11th Oct, 2020
    #2
  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Most lenders full doc loans never had an 80% LVR restriction. It hasn't been a problem.
     
    Last edited: 11th Oct, 2020
    Peter_Tersteeg, 11th Oct, 2020
    #3
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Fake News?
     
    Scott No Mates, 11th Oct, 2020
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  5. Hari Yellina

    Hari Yellina Well-Known Member

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    Westpac Bank Mortgage Broking Notification

    This has been sent to most of the brokers in Australia on 9th October 2020.
     

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    Hari Yellina, 11th Oct, 2020
    #5