A new high lvr – 95% home loan product will be available through Adelaide Bank and Bendigo Bank from next week..
There is significant demand in the mortgage market for a competitive home loan product outside of the big four banks.
The new home loan will be of great assistance to First Home Buyers who will be able to enter the property market with only 5% deposit. The loan will be available direct through Adelaide Bank and through the bank’s panel of mortgage managers. The bank is also planning to launch a low-doc loan later this year.
The Adelaide Bank is amongst a number of smaller bank and non bank lenders to recently announce the introduction of a higher lvr product. This trend is perhaps an indication of some easing of lending criteria.