Banks seek to revive interest-only boom

Advertisement

Because one year is a long time in Australian property. Via Banking Day:

Westpac is easing restrictions on lending to property investors in an attempt to revive its underperforming mortgage business.

The bank yesterday raised the loan to value ratio caps on interest-only mortgages from the previous limit of 80 per cent.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.