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Property buyers will now be able to borrow more with St George, with the bank re-introducing home loans up to 95 per cent LVR (loan to valuation ratio).
“Quite a few lenders have made the move back to 95 per cent lending in recent weeks and we were determined to be equally competitive in the higher LVR space,” the bank’s Steven Heavey said yesterday.
The changes mean property buyers may be able to borrow up to 95 per cent of a property’s purchase price.
In addition to increasing its maximum lending, St George has also revealed it will offer a refinance rebate of up to $700 to any borrower that refinances with the bank.