It is interesting to see CUA open the door to more borrowers in the current conditions where APRA are clamping down on lending practices particularly at the major banks. CUA, Australia’s largest member-owned banking and financial services provider, announced yesterday that it has revised its lending criteria for high density apartments. A bold move or one to challenge current thinking ?
googletag.cmd.push(function(){googletag.display('div-gpt-ad-1396393910748-2');}); CUA, Australia’s largest member-owned banking and financial services provider, announced yesterday that it has revised its lending criteria for high density apartments. “We’ve reviewed our lending policy so that we can provide additional financial options to our members in what is a popular and growing segment of Australia's property market,” Borrowers purchasing an apartment in buildings of less than six floors, or 50 apartments or less, will be subject to the same criteria as those purchasing a house and won’t need to meet the tougher high density apartment lending criteria. In addition, CUA is allowing owner-occupiers buying an existing unit to now borrow up to 90 per cent of the value of the property (or 85 per cent for a new unit) with lenders mortgage insurance — up from 80 per cent previously.
unknownx500
