Westpac, ANZ tighten investor mortgage lending as prices surge

Sydney

WESTPAC Banking Corp and Australia & New Zealand Banking Group Ltd (ANZ) are further tightening lending to investors in residential real estate amid efforts to cool the housing market.

Westpac, the largest lender to landlords, said in a statement on Wednesday that it will lend a maximum of 80 per cent of the value of a home to be rented out, down from 95 per cent.