Friday, 13 June 2008

ABSA latest lending policy OKDOKEY!!!



Hi everyone

Attached is a summary of the criteria which ABSA are now working. Juggling the act is the name of the game - The appetite for risk has definitely reduced.

Remember – LTV means the amount of money being lent against the value of the property.

The Mage is Back!!!

1 comment:

Brennan Carey said...

What amazes me is that the banks are trying to reduce their liability against falling house prices. However they are adding to the falling prices by shifting policies. NCA is there to ensure stricter lending criteria is enforced.

These policies will result in more sellers who cant sell as there will be fewer buyers,driving prices down. Just what the banks are trying to avoid.

Its not gonna be easy for many sellers to sell fast in this market