Lenders are all smiles as they gained an increase in profits by 17.7% from last year amounting to $29.9 billion after taxes.

Credit the residential home borrowers, as their loans increased by 7.2% from the previous year. Non major lenders gained most from this sector, as their residential loans increased by more than 20%. $76.6 billion of housing loans were approved in total.

Loans with 80% loan to value ratio has increased for the September quarter at 35% compared to the previous quarter at 32%. These values are still within range of the previous year’s value, where in the September quarter of 2012 accounted for 33% of loans with 80% LVR.

Read more about this on the Australian Broker Online website.

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Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.