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This is an extract from a post made on a UK Property Forum i am actively involved with and relates to a lender Mortgage Express who were very heavily involved in residential lending to investors. And we think our lenders are ruthless. Can you imagine your Banker wanting to do a Annual...

Hi All Wishing everyone a Happy New Year and wishing everyone achieves their wealth goals in 2013.

At its meeting today, the Board decided to raise the cash rate by 25 basis points to 4.0 per cent, effective 3 March 2010. The global economy is growing, and world GDP is expected to rise at close to trend pace in 2010 and 2011. The expansion is still hesitant in the major countries, due to...

RAMS Home Loans today confirmed that it will exit the broker channel effective 26 February 2010. - Thank god for that. As Rolf mentioned yesterday wouldnt be that their parent lender is running out of cash.

The Reserve Bank (RBA) has increased interest rates by 0.25 of a percent (25 basis points) taking the official cash rate to 3.25%. This is the first time rates have gone up since March 2008.

Interesting to read this morning that one of our lenders has re-introduced Nodoc loans again. NO DOCS to 75% No BAS Statements Required No ABN Required No GST Required No Bank Statements Required No Accountants Letter Required Perfect for Non Residents Unlimited Cash Out Imapired...

SGB have just announced effective from 19 September 2009, all Low Doc Home Loan applications must now be supported by Business Activity Statements (BAS) for the last 12 months, the last statement being no more than 3 months old at the date of application. This is in addition to existing Low...

Please note the following changes to the interest rates for fixed rate mortgages effective Friday, 24th April 2009 (the interest rate applies at settlement not approval): Loan Type Current Rate (p.a.) New Rate(p.a.) Change(p.a.) ANZ Residential 1 Year Fixed Rate Home Loan & RIL 5.99% 5.45%...

FirstMac continues to fight back with a knock out 2.99% home loan! To help support our accredited brokers to better position themselves to compete in this changing marketplace, and to provide a real competitive alternative and extra choice for borrowers, FirstMac is pleased to announce a...

The Commonwealth Bank will cut its standard variable home loan interest rate by 0.10% following the Reserve Bank of Australia's cut to the official cash rate. The Bank's new standard variable rate will be 5.64%. Our Line of Credit will be reduced by 0.05%. The new rates will be effective from...

To maintain a balanced and long-term approach to risk management and to ensure that RAMS is in a good position to continue to offer quality service to brokers and customers, RAMS has introduced the following 2 key changes to its credit policy: • The maximum LVR available through the broker...

The following Home and Investment Property Loan fixed interest rates will be effective from Tuesday, 24 March 2009: Term Current Rate (Stand Alone) % New Rate (Stand Alone) % New Rate (Premier Advantage Package) % Change % 1 year 5.45 5.19 4.99 - 0.26 2 year 5.45 5.19 4.99...

Loans submitted on and after Monday 23 March 2009 will be entitled to the standard Mortgage Advantage Tier discounts based on total home lending. The standard Mortgage Advantage tier discounts are: Total Home Lending Balance Discount $150,000 $349,999 0.50% pa $350,000 to...

St George have become the latest lender to withdraw their lodoc product for Company & Trust applicants and become part of the long list of lenders who have exited this type of application. Amongst the other amendments to their lodoc policy is the "Cash Out" restriction which is now placed at...

Dear Valued Broker Partner : BankWest is pleased to announce the Rate Tracker return to the Broker Market. Rate Tracker Home Loan The rate will be tracked against the Market SVR of the 4 Majors, less a discount of at least 1% = 5.82% p.a. effective 16th December 2008 Electronic...

Get Ready: 2 Year Fixed Special 5.19% pa Owner Occupier: Max 95% LVR with LMI Capitalised Investment: Max 95% LVR with LMI Capitalised Optional 0.20% Fixed Rate Cap Fee Available Rate Lock available on Pre-Approvals for 90 Days Full Doc Only Rate effective 12th December 2008 Maybe...

A Melbourne woman is taking on a mortgage lender over claims of “unconscionable” high interest rates and “excessive” exit fees. Emily Hamilton is taking RHG Mortgage Corporation (formerly RAMS Mortgage Corporation) to the Victorian Civil and Administrative Tribunal (VCAT) after the lender...

WESTPAC REDUCED STANDARD VARIABLE RATE TO 7.71% effective 10/11/2008 ( REDUCTION OF 0.65% )

MEDIA RELEASE No: 2008-25 Date: 4 November 2008 Embargo: For Immediate Release STATEMENT BY GLENN STEVENS, GOVERNOR MONETARY POLICY At its meeting today, the Board decided to reduce the cash rate by 75 basis points to 5.25 per cent, effective 5 November 2008. World financial...

More changes on the Low Doc scene Firstmac have announced that the maximum LVR for low doc loans is now 60%, reduced from 80%.