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​Almost one quarter of first home buyers prefer no deposit home loan

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Australian Broker | 13 Oct 2014, 08:16 AM Agree 0
Almost a quarter of first home buyers are prepared to borrow the full purchase price without saving a deposit, while more than a quarter wanted their employer to salary sacrifice for their property goals.
  • Wozza | 13 Oct 2014, 10:51 AM Agree 0
    There is something wrong with the system when a high earning couple who save nothing can get a loan of 105% with guarantor support. Then (as a client of mine discovered) someone who has saved 7%deposit, paid cash for two cars, has had their own business for two years, supports six young children (you read it right), cant get a loan because the bank "averages" their income over two years. This year's income supports the application. Mortgage Insurer says "No".
  • Aaron | 13 Oct 2014, 07:18 PM Agree 0
    Wozza, seems your client needs to see ANZ.
  • Wozza | 20 Oct 2014, 11:29 AM Agree 0
    Aaron. Yep ANZ will take 1 year tax return but wont go above 90% LVR. Still stymied
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