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Empower Wealth Blog post by Empower Wealth

Higher LVR’s Back in Play = Good News for First Home Buyers

Over the past few weeks we have seen several lenders adjust their Loan to Value Ratio (LVR) to allow for more First Home Buyers and Investors take on higher levels of lending against the security of the property they are purchasing.  There are some lenders who are in the 100% lending space, meaning that the borrower only needs to find approx. 5% to purchase the property.  In saying this, a very strict lending criterion applies and long term employment and clean credit history is the order of the day on this product.

The overall benchmark lending levels for Owner Occupier buyers has been reset to pre- Global Financial Crisis levels at 95% LVR.  This, coupled with the slowdown in the property sector, is making a very strong argument for First Home Buyers to re-look at entering the market as it offers them a chance to capitalise off government incentive offers, such as the first home owner’s grants along with several state incentives on offer across the country.

If you want to get an idea of what your borrowing capacity is and if you meet the eligibility criteria for these types of loan options, then why not make a free no obligation appointment with one of our Mortgage Brokers.  Let them do the running around for you to find the most competitive offering.  Call our office today to arrange an appointment that suits your busy schedule, either during office hours or after hours.  Tel: (03) 9326 8900

For First Home Buyers – We also run very popular Information Nights for First Home Buyers.

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