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CBA always does a credit check. It is part of their modus operandi. In fact, they would probably be in breach of their responsible lending obligations if they didn't do a check on you as they would have no idea about your credit worthiness. You obviously have the rate blinkers on, 5.4% is no...

Well said rolf I couldn't agree more with this. Maybe the day will come when the other banks follow CBA's example and ask for all transaction statements from now on? Then lending will come crashing to a halt, that's for sure.

Hate to say this but most people who don't make it as brokers go back to work for the bank because they a) want the secure PAYG income, and/or b) didn't make it. X-coll is not a big issue until it is a big issue.

lol. Cognitive dissonance at work.

Seeing as most loan products pay roughly the same commission I think your assessment of how brokers operate is completely and utterly inaccurate. While I do respect your decision not to use brokers, get your facts right first and not slander all of us as unscrupulous loan sharks due an...

Because he can't be bothered doing two applications. Anyway the OP has made up his/her mind on this so I wouldn't bother further.

It's not the fee that's the issue. They can control where all the money goes.

Well, you say that now. It is your money after all but I just don't think it's a wise decision and I certainly wouldn't recommend it. But each to their own.

Well Shahin and Rolf kinda summed it up pretty succinctly in their responses. In a nutshell (from my viewpoint), crossing your securities opens you up to valuation risk, giving too much equity to the lender (for no benefit to you) and allowing the bank to control your entire portfolio which can...

The cross collateralisation thing has nothing to do with the tax structure of it. It's about setting up how the securities are held by the bank. All I'll say is the way you are doing it is a terrible way of doing it and is not in your best interests. You can ask the CBA banker to uncross it but...

Hi Alex, OP says his/her house is worth $650,000, and the new place is now bought for $740,000, so it's worth about $705,000 before stamps. That means total loan is original $200,000 plus $740,000 which is $940,000. Total value of securities is $650,000 + $705,000 = $1,355,000. $940,000 /...

Classic cross coll. I am also guessing this lender is CBA.