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Id guess there was no such plan per se, and the sale was more a rescue package and stop borrowers from being sold up than a cash injection for the boss. ta rolf

and therein lies the problem did the initial mortgagee inform you of the difference in funding lines between a balance sheet lend and a securitised lend - very likely no. did they have an obligation to do so............ they dont even have to now under the new NCCP rules . At least we...

there are circumstances where only fixed rate can work due to serviceability with some lenders, and there is the occasional lender that will insist on aggregated security under their pro pack unless pushed ta rolf

for those with full doc variable rate loans at < 80 % on the day lvr who can provide income proof > exit - fine. anyone else remains in the ever quality decreasing pit. And its not just the lenders of "securitisation models old" that can fall into this puppy, even mainstream...

and peops say it will never happen again................. ta rolf