Westpac sees IO loans shink to 31 percent of home loan portfolio

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Westpac has reported its IO loans has dipped to 31 percent of its home loan portfolio.

It sat at 46 percent in late 2017.

An overview of ANZ’s home loan portfolio from their half year results investor pack also showed a big fall in interest-only loan borrowers.

Just 18 percent of their portfolio is IO compared with 26 percent this time last year and 36 percent in 2017.

NAB’s IO loans have dropped to 26 percent of their loan book.

Some 84 percent of Westpac’s entire portfolio has an 80 pecent or lower LVR.

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