ASB's mortgage book shrinks for a seventh successive quarter
The loan-to-valuation ratio (LVR) table in ASB Bank's latest disclosure statement shows its mortgage book shrank by $38 million to $37.36 billion in the three months ended December. Its book has declined by $545 million since March 2010.
But even though its book is shrinking so much, ASB's figures also provide some confirmation to anecdotal evidence that some banks are loosening their lending criteria.
Its home loans with LVRs of 80% and below fell by $584 million to $29.97 billion in the three months ended December.
By contrast, its loans with LVRs between 80.1% and 90% rose by $140 million to $4.12 billion in the quarter while loans with LVRs above 90% leapt by a whopping $406 million to $3.28 billion.
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