13/05/2015 - Reserve Bank announces new LVR restrictions
The Reserve Bank announced Wednesday morning the introduction of new policy changes to the loan-to-value (LVR) ratio.
LVR is calculated as Total Loan / Property Value = x%.
The changes take effect from 1 October 2015 however the Reserve Bank has asked the banks to operate in the spirit of the changes effective immediately.
The changes are as follows: