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Have your say: Westpac eases lending criteria to offer 90% home loans
Friday, July 10th, 2009An article by Tina Law in the Press has highlighted that Westpac has been offering home loans at up to 90% of a property’s value. Mortgage brokers have also reported other banks lending more than 80%, Law said.
New Zealand’s banks tightened home loan lending ratios in late 2008 as the global financial crisis worsened a slump in the property market. Many banks dropped their 100% lending offers and moved to 80% being the maximum loan to value ratio.
Here are some cuts from the article. We welcome your thoughts and comments below.
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