Reserve Bank to drop LVR loan limits
Fears coronavirus will decimate the housing market is causing the central bank to act.
The Reserve Bank proposes axing its loan-to-value ratio (LVR) restrictions dictating how much people can borrow when they buy a house.
The move is in response to the economic downturn caused by Covid-19 and the likely severe impact on the housing market.
Currently, banks can lend no more than
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