what's the general story with lo doc variable rates?

[Rolf Latham]

Hiya Steve

As far as I am aware ( this week anyways ) CBA have a delegated authority from GE for blanket insurance as long as the deal fits certain broad criteria.

This should mean that all insured loans are insured thru GE ?

ta
rolf

 

[RumpledElf]

Not quite on-topic, but we have a lo-doc with CBA a little over 60% LVR and they didn't bother properly valuing either house for security when I got the initial loan 3 months ago. I assume they did a drive-by or just rubberstamped it.

Now I want a little extra to pay the plumber and surveyor, they actually want to make a time to visit the houses. We've had to cancel getting a floor removed so the valuer can actually get IN the house ...

 

[Rolf Latham]

Very much on topic actually

Deemed risk

They figure at 60 % no risk and you fit the no val or drive by tick box.

61 % though and the ball game changes

Full, val, DNA tests the lot


ta
rolf