Great news for Homeowners who are seeking loans but have a lot of equity tied up in their mortgage. Three large Australian lenders have decided on extending their maximum LVR, loan to value ratio, up to 95%.
In other words, some lenders will provide funds for consumers that will only hold 5% of the equity in their mortgage. This opens up a new market for the newly mortgage holders or those that have recently refinanced to use their home to free up additional funding that would not have been available for a few years.
