Westpac is lowering the deposit it will require from property investors, while Macquarie Bank has put the brakes on lending for high-rise apartments.

Westpac, the largest lender to property investors in the country, is increasing the maximum loan-to-valuation ratio for new mortgages for property investors to 90% from 80%.

That will mean investors will only have come up with a deposit of 10%, compared with the 20% deposit that was put in place only months ago as all of the big four banks tightened lending to investors.

Westpac's lending to investors grew 7.2% in the year to March, which is well below the 10% growth level imposed by the Australian Prudential Regulation Authority.

Meanwhile, Macquarie Bank has announced it will no longer approve loans for apartments in high-rise buildings in 120 designated high-density postcodes. The bank has also lowered its maximum loan-to-value ratio from 80% to 70%.

Macquarie's move comes amid growing concerns about oversupply of apartments, especially in Sydney and Melbourne. Most of the postcodes are in inner-city areas of Sydney, Melbourne and Brisbane.

Macquarie is also tightening lending conditions for purchasers buying multiple properties, or using multiple properties as security, and said employment and income checks would be conducted on all loans.

See our 2015 article on Tighter investor lending rules here.