ANZ has lifted its LVR to 95% for existing customers who have a strong credit history.
ANZ was the first Australian bank to tighten credit policies in response to the GFC, and has maintained the most conservative position on LVRs now for 16 months. ANZ lifting its LVR to 95% is an attempt to claw back some of the market share it lost to CBA and Westpac last year.
“With the improved economic outlook, we have taken a decision to allow mortgage lending up to 95% LVR for some existing customers where they have a strong credit history,” a spokesperson from ANZ said. “All applications that are above 90% LVR will require a full valuation.”
ANZ was the first Australian bank to tighten credit policies in response to the GFC, and has maintained the most conservative position on LVRs now for 16 months. ANZ lifting its LVR to 95% is an attempt to claw back some of the market share it lost to CBA and Westpac last year.
“With the improved economic outlook, we have taken a decision to allow mortgage lending up to 95% LVR for some existing customers where they have a strong credit history,” a spokesperson from ANZ said. “All applications that are above 90% LVR will require a full valuation.”
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