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Reeco - My money is with you on the in house finance possibility. Probably a senior lender takes 80% of the action with the balance provided in the same manner as the old Adelaide Bank EFM product. Another interesting point is that it seems that you have to purchase one of their NRAS...

Hi Euro Your right...must have missed that one. The quick Westpac retraction/stay tuned message was most probably as a result of someone whithin their Credit Policy Dept realising that St George had also recently articulated that certain NRAS properties under certain conditions where OK...

Westpac have recently (5/8) announced that "Securities associated with NRAS are not suitable for Consumer lending at this time". No reason was given nor any comment provided as to why they don't like NRAS properties?

Buyers beware..... Just been reading up on NRAS and noticed the following on their website (http://www.fahcsia.gov.au/sa/housing/progserv/affordability/nras/Pages/default.aspx) "There is no requirement under the Scheme for the incentives to be passed on to the owners of the properties...