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If I could find a bank to lend me money at 2.5%, they would also have to put a limit on me, because I'd be unstoppable.
What's the rental yield like in England these days?
Good luck getting 2.5% for a new mortgage. The banks have widened their spreads, and most loans being offered are around 5%.
I'm not sure what yields are like in general, though there are a lot of prime properties at 4% or so.
HOME owners are being offered bigger discounts on increasingly large mortgages as banks seek to breathe new life into the lending market.
...
major lenders have loosened the limits on the percentages of the total amounts they are prepared to advance with a deposit. The limits were cut to as low as 80-85 per cent after the global financial crisis as borrowers were required to contribute more of their savings.
...
Commonwealth Bank, has increased its loan-to-valuation ratio from 90 per cent to 95 per cent, according to the latest research compiled by Deutsche Bank.
Yes they are but the government spin doctors dont want the general public to know it.
The Commonwealth announced it had reduced the rate on its no-fee home loan by 13 basis points to 7.11 per cent.
The new rate - equivalent to a $27 per month saving on the average mortgage - applies automatically to all new and existing no-fee home loans.
The bank launched the cut-price no-fee home loan in late February. The home loan is priced significantly below the standard variable rates offered by all the other major banks.
Home loan rate cut for Commonwealth Bank...
http://www.news.com.au/money/intere...for-commonwealth/story-e6frfmn0-1226082513213
Effective Monday 27 June 2011, we will be updating our Foreign Income and Eligible Borrower policy.
We are expanding the eligible borrower policy to accept applications from the following new customers for Owner Occupied or Investment Home Loan purposes:
Temporary Australian residents holding a current 457 VISA living and working in Australia (a copy of the 457 VISA must be included in your supporting documents)
Permanent Australian Residents living and working overseas.
Got an approval yesterday from Suncorp.
Let me leave only 5% equity in current place to fund the next one!
Pretty happy with that!
I have a proerty for sale here and have had great interest over the last 4 months but come hell or high water the 8 interested buyers we have had not one of them could get finance. All ages all different stages of life and employment. Not one interested party has offered lower than our asking price, so cant be that.
i am at a loss as to why.
cheers
Bank offers home loans with 3pc deposit
KIM MCDONALD, The West Australian August 16, 2011, 8:39 am
First homebuyers will be able to borrow 97 per cent of a loan under a new Bankwest mortgage product.
Greater Building Society does 95% LVR loans (LMI capitalised) and very competitive interest rates (variable 6.94%, 1-year-fixed 6.59%). We just got one without any hassle and they were by far the easiest and friendliest to deal with I have come across. I think they only do NSW and QLD.
Cheers Ali