Heritage Bank this week increased its Loan to Valuation Ratio (LVR) from 80% to 90% for investment loans, maintaining its position as a competitive lender in the market.
Head of Third Party Channels David Ure said the change reinforced Heritage’s determination to ensure sustainable growth in the home loan investment sector.
“This change will allow Heritage to continue to grow within the bounds of the 10% guidelines imposed by the Australian Prudential Regulatory Authority (APRA),” Mr Ure said.
“Heritage is all about delivering great value for our customers and we are committed to offering competitive rates that are among the best in the marketplace.
“With variable rates for investors from 4.59% (and for owner-occupiers from 4.08%), a Heritage home loan delivers on that commitment.”
Heritage’s 90% LVR cap for investment loans became effective from Monday, 11 January 2016.