Interest Only Repayment Home Loan Update

May 16th, 2017

Bank of Melbourne is committed to lending responsibly and in the best interests of customers. APRA recently announced new measures to slow the growth of interest only lending to 30% across the Australian banking sector. In order to meet this new regulation, we are required to make changes to some of our lending policies. The maximum LVR (inclusive of any capped mortgage insurance premium) for clients making Interest Only repayments will no longer be acceptable above 90%.

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