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On a more constructive note anyone come up with any non banks with decent servicing besides Firstmac and ABL funded mortgage managers?

Apart from this thread I started you mean?

1) Many lenders ie nab, Macquarie, firstmac have a hard lvr cap at 90% so 88% + lmi will generally keep you under that. 2) lmi is considerably cheaper at 88% than 90%. Often a $3-4k saving on average size loan. 3) some lenders price better if lvr is under 90%.

If you can manage at 80% do that but would say if in any doubt do 88% + lmi on the IP's to start with and work back to 80% if you hit a road block.

This means virtually nothing. I'm always astounded by the comments bankers make to clients and how people react to them. You generally service or you don't and past repayment history really has nothing to do with affordability of a proposed new loan. It's a character trait similar to how...

With Westpac group now using the new player it makes for a perfect storm for them. Jacking up premiums by 100% since 2008 was plain old profiteering and collusion so maybe they are getting what they deserve.

Nab changes... http://comms.nabbroker.com.au/rv/ff001fade9b9256437ca96a8cc42908500dabdfd/p=0 Maintaining prudent lending standards NAB is committed to maintaining prudent lending standards and fulfilling its regulatory obligations. The current low rate environment has helped drive...

Just to be more ridiculously conservative ;) Assuming first 5 year IO then the trend is to service the 30 year total loan over the remaining 25 years. Another buffer on the buffers on the buffers :eek:

For purchases? Still everyone besides Bankwest....so far.

Haven't heard the 80% lvr rumour about nab. More likely to go 7.4% p&i 25 yrs I think.

There is lots of talk about banks having to do capital raisings to meet the increased capital ratios that may / will be required. I did always think it was amusing that lending to individuals at 90-95% was considered imprudent but the banks were only holding 5-10% equity themselves on their...

This will be the real test of how much leverage there is out there. I think your right.

Euro that's is a bit negative I feel. For the vast majority of borrowers this wont be an issue at all. For the accumulators with multiple properties it may be a stall period until things change / their servicing increases. Its not the end of the world yet.

I'm reading this as a major event for new lending BUT it does give the RBA scope to lower rates further so I think it will be OK for existing investors in some regards. Give it a few months and the lenders will start competing again once things die down a bit and APRA takes their spot light...

Still lending! Just not discounting as much

spot on as usual, my thinking too. Increase capital reserve ratios against investor loans means not as profitable

and now cba follow nabs lead on pricing for investment loans.

Add nab into the mix. No discounts on investment loans (above the published discounted rates) and mooted changes to their serving model.

Awesome posts Euro. I'm going to refresh my firstmac accreditation this week. In regards to brokers / me using lesser know lenders the problem I have is evey lender does things differently and using a new lender can be duanting because it takes time to get a handle on their quirks. The last...

Really not until 18 months ago but has been a gradual tweaking at the edges mainly. The cash out things is big indicator IMO. When this gets tough everything is tough.