subscribe to our newsletter
Non-major bank leaves SMSFs off list in lending changes

Non-major bank leaves SMSFs off list in lending changes

Miranda Brownlee
14 January 2016 — 1 minute read

Despite recent changes made to home loans for retail property investors, one non-major bank has retained its current settings in place for SMSF property loans.

A spokesperson for Heritage Bank confirmed that while the loan-to-value ratio limit has been increased from 80 to 90 per cent for investment loans for retail investors, it remains at 80 per cent for SMSF loans for residential property and 65 per cent for commercial property.

David Ure, Heritage Bank head of third-party channels, said the changes to its investment loans reflected the company’s “determination to ensure sustainable growth in the home loan and investment sector”.

“This change will allow Heritage to continue to grow within the bounds of the 10 per cent guidelines imposed by [APRA],” Mr Ure said.

Read more: 

Fresh LRBA concerns surfacing for ATO

Super industry falling behind on SuperStream

Limited licence slammed as 'band-aid' solution

Govt ‘not there to dictate’ on super, says O’Dwyer

Non-major bank leaves SMSFs off list in lending changes
smsfadviser logo
join the discussion

Are you currently covered by an AFSL to provide limited or full financial advice?


Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super