ANZ has required borrowers who want to purchase luxury properties in Melbourne to pay at least a 30% down payment. At the same time, the bank is implementing a loan-to-value ratio (LVR) 80% cap requirement similar to Western Australia in some areas of Melbourne, which means that borrowers need to have at least 20% of the property equity to be eligible for loans.
ANZ and other major banks will begin a six-month registration process with customers this week. Hande said that in accordance with the agreement reached with the regulator, the bank will allow some customers to postpone the repayment for 4 months, “especially when we see Victoria is blocked for the second time.” At the same time, ANZ has also increased the number of people in the foreclosure team. Its chief executive, Shayne Elliott, said on Monday that real estate foreclosure cases will be handled with caution, and the bank is ready to accept political and media attacks. More review of the decision.
