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Your loan repayment would be based on the original loan amount and time frame. If you want to reduce your repayment as marg said you can renegiotiate your payments however this will mean that all the extra money you have put into the loan is no longer accessible on redraw.

Lol!! This post made my day, as long as it must go up then fair enough.

Hi Rolf, From my understanding the LMI companies were external? I.e. bank transferring risk away from themselves, how can St George merge particularly existing clients from what I would think is another company? Also would it be true that the reason that there is few LMI companies is due...

I don't know if anyone else is familiar with this but I am under the belief that Westpac has a migrant banking program that can offer higher LVR's for certain types of people on visa's including Cairns'?

Agree pickle. Until we have unemployment rising and/or a real tightening in lending the Australian market will keep chugging on. However I don't view this as an acceptable risk to make an investment as at some point these factors will come into play again.

We might all not be happy with the moves westpac and CBA are taking but looking at it from their point of view, they now own a massive segment of the home loans market and as far as i am aware that has not stopped, all they are doing is saying we will take the 'safer' applicants and chuck the...

To clarify do you want loan 2 to be 100k bal and 100k redraw? If so ou would have to do an adjustment of the limits on the loan as you are increasing the borrowing capcity for loan 2. Not sure if CBA has that facility. If you want 0 balance and 100k redraw just redraw from loan 1 and put money...

Not identical no, very similar though. I would say Veda is the more widely used and also has more information contained in it. As said above you can get Veda for free and D & B also if you are happy to wait 10 business days, so if there is an issue best to check both as depending on the bank...

Rolf, do you think the funding pressures are only on the WPC and CBA? I mean are ANZ and NAB feeling it all? What is the likelihood of them following suit? I wonder the outcome should credit markets dry up further, I mean how would rationing by these 2 effect prices? Cheers, David

I believe on the package product offers .15% and depending on the size of your loan you could negiotiate a higher discount?

I am pretty sure it would be same as St George as previous poster said. They have to notify you of every repayment change in writing I believe so to save an extra monthly letter they are skipping a few months and updating the repayments then.

Sash, what is the reason you went with a big four bank? And AFAIK the banks didn't use the government's money only the guarantee which was needed to avoid higher funding costs which would have been passed on to? Regards, David

While I understand the frustration that people might have in regards to interest rate rises the stress it brings and all of that, I know given the recent happenings in respect to the GFC I would rather a bank that raises rates so it can sustain its margin and balance sheet rather than run at a...

I see, would you believe that these people who by the sounds are taking the money from the govt illegally ever be brought to task? I mean we're talking significant abuse of power / fraud here aren't we? Imo relying on foreign investment and immigration to be a major player in real estate...

Interesting PoV DeeHwa. Do you believe the recent rise in the AUD against the Yuan affects this at all or is it still a case of really good value for money? As a broader response to the topic, I think Australia has been spared from the crashes seen elsewhere due to our banks not having any...