Dear All,
1. I like to know from your own life experiences or seek your views if the Australian banks do indeed also quietly change its internal lending criteria ad hoc without prior warning to its existing customers in Australia during the Slump Phase of a Property Cycle.
2. Do the Australian banks also insist that the borrowers have to up on their mortgage loans borrowings simply to lower its own lending risks without due regard to the customers' circumstances even though one has been regular in servicing its monthly loan repayment promptly and still within a safe LVR of 50% loan financing.
3. Under what circumstances and property market conditions do the lending banks suddenly tighten up on its lending policies? Are tehy obvious market indicators forewarning that the lending banks is about to tighten on its lending criteria.
4. I know that the lending banks in Singapore and New Zealand do and even though the house owners do lower the LVR down to 45% and are regular in servicing the monthly loan interest repayment promptly, the house owners in these 2 countries have been known to have been asked to top up on their loans as a result of the bank's sudden change in their internal lending criteria. And when the house owners fail to do so, they are being "suddenly foreclosed" by the banks, as a result.
5. How's then does one actually go about preparing and safeguarding oneself from being foreclosed by the lending banks, as a result of this change in the banks' lending crtieria.
6. Thank you for sharing your life experiences or/and your views in advance.
regards,
Kenneth KOH
1. I like to know from your own life experiences or seek your views if the Australian banks do indeed also quietly change its internal lending criteria ad hoc without prior warning to its existing customers in Australia during the Slump Phase of a Property Cycle.
2. Do the Australian banks also insist that the borrowers have to up on their mortgage loans borrowings simply to lower its own lending risks without due regard to the customers' circumstances even though one has been regular in servicing its monthly loan repayment promptly and still within a safe LVR of 50% loan financing.
3. Under what circumstances and property market conditions do the lending banks suddenly tighten up on its lending policies? Are tehy obvious market indicators forewarning that the lending banks is about to tighten on its lending criteria.
4. I know that the lending banks in Singapore and New Zealand do and even though the house owners do lower the LVR down to 45% and are regular in servicing the monthly loan interest repayment promptly, the house owners in these 2 countries have been known to have been asked to top up on their loans as a result of the bank's sudden change in their internal lending criteria. And when the house owners fail to do so, they are being "suddenly foreclosed" by the banks, as a result.
5. How's then does one actually go about preparing and safeguarding oneself from being foreclosed by the lending banks, as a result of this change in the banks' lending crtieria.
6. Thank you for sharing your life experiences or/and your views in advance.
regards,
Kenneth KOH
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