A non-major has today launched a tool that provides brokers with immediate access to information to identify the maximum lending limit for certain areas, eliminating the need to draw from multiple sources of information.
The new Valuation and Policy Tool launched by Bankwest enables brokers to have instant access to the bank’s LVR limits and maximum loan amount for the majority of postcodes throughout Australia, according to each property type.
Bankwest head of third party banking, Ian Rakhit, said that Bankwest’s new LVR limits “mean a home loan for the purchase of a high density, off the plan property has become a real possibility for buyers” in Sydney, Melbourne, Brisbane and Perth.
“We know more and more people, especially first-time buyers, are looking to buy apartments and units. With the new LVR limits in place, this new tool will help brokers to find Bankwest home loans to as much as 90% LVR for these customers,” said Rakhit.
Bankwest has unveiled a series of digital services for mortgage brokers over the last two years.
“We’re in continual dialogue with brokers and we’ll continue to listen to feedback to ensure we design products and services that meet their needs and customer and community expectations,” Rakhit said.
“Bankwest has been a long-term supporter of brokers, who provide an essential service that helps meet the needs of customers right across Australia. The new valuation and policy tool is a great addition to the suite of services we provide.”