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ISCOVER
Staff Reporter
One of Australia’s top 10 originators has enhanced its product suite, increasing the loan-to-value ratio on one of its products.
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Yesterday, Australian First Mortgage (AFM) announced it would increase the LVR on its self-managed super fund (SMSF) commercial property purchase loan from 65 per cent to 70 per cent.
AFM’s founding director, Iain Forbes, said the announcement was “excellent news for borrowers considering purchasing a property through their super fund”.
“Whilst 65 per cent was an acceptable LVR, 70 per cent makes it extremely attractive,” he said.
AFM specialises in lending to SMSFs for residential and commercial properties. The LVR on a residential loan is as high as 80 per cent and now 70 per cent for commercial loans.
