Banks slash spreads on Sibor-pegged loans; 80 and 90% property financing now available
CREDIT conditions have eased markedly in the competitive home loans market, thanks to improved confidence and liquidity in the property sector. Banks have slashed the spreads they charge on Sibor-pegged loans, and mortgage brokers report the renewed availability of 80 and 90 per cent financing for property.
This is in sharp contrast to the backdrop that prevailed in the first quarter when amid gloom over the economic outlook and falling home price valuations, banks reportedly tightened lending criteria.
At that time, the spread on Sibor loans soared past 1.75 per cent depending on the loan-to-value ratio and whether Continue reading
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