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P&N are good for servicing, especially if you're buying under 80% lvr. They don't have dua, and they only like WA borrowers, but if you have ties to WA they might consider. And a WA broker is not a good enough tie. I know because I asked ;)

Nice work! It was more of an example to the new investors who almost invariably are rate focused and want to go for the cheapies without thinking of the longer term implications - for them, being able to access equity is vital and making that mistake early can be a real hindrance to progress...

That's a prime example of why chasing low rates can be very expensive. 3 IP's at 90% means to access equity in any of them you'll need to refi to another lender for each, and pay LMI all over again.

CBA haven't changed servicing criteria, only pricing.

No need for them to be angry - it is only one lender, and not a great one for investors anyways.

I was speaking to the FM BDM last week and he was saying they are keeping it in-house as much as possible now - only sending to the insurer if the val comes back with high risk score etc.

CBA is the best out of the big 4.

There are still some more generous than others - Adelaide, Firstmac, TMB and Me bank are all still pretty good BUT they all have their quirks so best to speak to someone before rushing in - for eg, ME have a 1 month turn around time at the moment, which might be tolerable for a refi but not...

It depends on exactly what the problem is - but Firstmac and TMB could still be okay, possibly others too. We'd need to go through everything properly to give you any real answers. I'd suggest your current loans are probably all x-coll, too if you've let NAB have their way with you. If...

Your banker could be wrong re APRA but used them as a excuse - or just didn't know what he was talking about :) NAB treat their own debt quite harshly, so it's quite possibly more the fact that you've hit the wall there regardless of APRA - 7 loans is a lot, and when their all assessed with...

Yeah - it seems to depend who you speak to. I've heard "def 90%, maybe 80%" and "def 80%" so I'm taking a 'prepare for the worst but hope for the best' stance on this one. :)

They will fully assess at their new crap servicing. Might want to touch base with your broker.

Word on the street is both. Yuck.

Yep, got it last week. I've mentioned it on here somewhere. Word is NAB is going to 80% LVR for investment if the goss is to be believed.

I've been speaking with firstmac quite extensively the last couple of days and at the moment things aren't set to change servicing wise. Apparently they've also started self insuring very recently so I'm quite keen to see how they can fill the spot that AMP and Macq used to fill.

As long as the valuation comes in you 'should' be okay - CBA haven't changed their servicing, only their pricing. And as of today, there are no plans to change that...either that, or they're just not telling yet.

As long as you can still service, equity release up to 80% should be fine. Depending on lender, up to 90% should still be fine.

Are they X-coll? BW don't tend to be anyone's favourite for investors so you most likely would have had to move away from them at some stage anyways.

Hahaha! You should, or that's seriously what it will be like :) I can already see it - people sobbing hysterically, pleading in desperation over the phone to their AMP CSO at the cruel twist of fate that ensured they can no longer get equity and also can't move without paying LMI again...

No, but if you want to access equity, do it now.