In an attempt to woo First Home Buyers, a leading lender is offering home loans at a 95% Loan to Value Ratio. Liberty is offering this loan without Lenders Mortgage Insurance.
Liberty’s national sales manager, John Mohnacheff believes that First Home Buyers are discouraged from purchasing property because of tight lending rules and regulations. He is confident that Liberty is setting a new standard in home lending with this initiative.
As of December last year, First Home Buyers comprise a measly 10.2% in home loans. Major real estate bodies have called on the Government to abolish stamp duty to make homes accessible to First Home Buyers.
As with all financial decisions, it is best to consult a financial planner if this option is for you. Liberty’s 95% LVR loans’ interest rates start at 5.79%.
Read more about this on the Adviser website.