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I too would be interested in joining an RP Data group if anyone is forming one in NSW. Cheers Patrick

St.George Specialised Mortgage Solutions may look at it as an exception to policy but be prepared for plenty of stress and heartache! I have recently got a few small units through including a 36sqm 1 bedder in Newtown. Since this one is in Darlinghurst they will consider it as inner city though...

1% of the initial loan amount is payable if the loan is paid out within 4 years of settlement. After 4 years you can either switch to one of RAMS other products (such as the basic or Smartway pro pack) just for a switch fee. Alternatively you can refinance to another lender after 4 years without...

I actually spoke to RP Data about this a few weeks ago. If you get a large enough group together (I think 50 was the number mentioned) an Australia wide subscription will cost about $60-$70 per month each and you would get your own login. Don't quote me on this since my memory is vague but it...

I'd be interested to hear if RHG are decreasing their rates also! I have also noticed that Bankwest have not yet cut their variable rates. Surely they will pass on the 0.25% p.a.!

Hi Raja At ANZ I/O loans will reduce your borrowing power strangely enough. Instead of servicing your loan over 30 years ANZ will service your loan over 30 years less the interest only period. So in your case in their serviceability calculator they will calculate your repayments on the new...

I believe St.George will allow multiple offset accounts against one loan account. Cheers Patrick

At ANZ you should only have to pay LMI that is calculated just on the increase amount as opposed to the entire loan amount, if you paid LMI previously. If you refinance to another lender you will be charged LMI on the entire loan amount including the new increase. You may want to clarify this...

Hi Brizza Under the changes in their LMI credit policies in September last year Colonial will supposedly lend up to 95% + LMI in any postcode in Australia against properties up to 50 hectares. Having said, when LMI is involved, the dwelling needs to be in good condition and their needs to be...

Hi Brizza Most lenders will now allow 95% non genuine savings loans. Your 5% deposit can include FHOG and gifts. The funds just can't be borrowed. Most of the lenders that offer this will also allow you to capitalise LMI to the loan up to a 97% LVR or more in some cases. The only extra...

I am in NSW so things may be different over here but I contacted Energy Australia and got the date of electricity connection. This is suffice. Cheers Patrick

Lukentel, I think Richard was referring to the standalone 106% loans now available (albeit with fairly high interest rates which is understandable considering the risks they are taking). Cheers Patrick

Hi Lukentel, Obviously borrowers will still need funds to pay for costs but in the case of a first home buyer in NSW the out of pocket costs are very little. They don't have to pay stamp duty for properties priced under $500k and the mortgage insurance is capitalised to the loan. Essentially...

Lukentel, the grant bit is true. As long as the 5% deposit is not borrowed it can come from anywhere (e.g. savings, gift & FHOG). Cheers Patrick

You can now add Bankwest and RAMS to the list too. Cheers Patrick

Woohoo I believe you are referring to First Permanent (trading name is Establishmentloan). They will do 106% for O/O and investment properties. But as you would expect the interest rate is a bit higher than normal. The upside is that this is not a shared equity loan like the one shown at...

Hi Rolf You have no arguments here. It is a different market these days with first home buyers expected to save a fortune to get into the market, particuarly in Sydney. It is about time common sense prevailed.

I believe ING will now do 95% + LMI with no genuine savings. Will also do 97% loans with 3% savings and cap LMI up to 100%. I think you will find all the majors will follow suit in due course. A mini revolution seems to be taking place.

Hi StGeorge will accept a non-saved 5% deposit through their no deposit area but the rates aren't as sharp as Homepath's. Cheers Patrick

Hi jsh1 Bluestone 90% Low doc has a rate of 9.09% p.a. in the 1st year, 10.09% p.a. for the next 2 years and after 3 years the rate reverts to their standard rate of 7.54% p.a., assuming your history for the previous 12 months is fine. The thing you have to be careful about though is their...