For first time buyers a higher cap of 90% applied for house purchases for the first € and the 80% LTV then applied to that part of the value of the house above € Banks were allowed to issue up to 15% of their primary dwelling home (PDH) loans above these LTV limits on an annual basis.
This is a reason for care, both by the Reserve Bank and private lenders, and I note that lenders are being a bit more conservative on non-price loan conditions for households. Picking cyclical turning points is notoriously hard – even in hindsight, let alone ahead of time.