westpac tightens lvr to 87% for new clients, page-21

  1. jimjim1
    830 Posts.
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    18/01/10
    19:01
    Post #: 6216682
    No it's not loosening!
    For example at 95% LVR, if the purchase price is 400000K inc all fee's,legals,stamp duty, the most the bank will lend is 380K, hence you will need a minimum of 20k savings.
    At 87% you will now need a minimum of 52k savings to take out the loan!
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