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Lenders should take heed of CBA's FHB success

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Australian Broker | 29 Jan 2013, 08:03 AM Agree 0
Following reports that CBA took home 40% of the FHB loan market last month, mortgage broking industry representatives say the major bank should be used as an example by other lenders
  • Broker | 29 Jan 2013, 01:15 PM Agree 0
    Now that ING are not capping all the lmi , anyone that does will be a solid payer in this space, I have no idea why CBA are I might add!
  • 1martym1 | 29 Jan 2013, 04:05 PM Agree 0
    CBA's credit scoring above 90% is tough IMO. I dont believe these figures.
  • Brett | 30 Jan 2013, 10:54 AM Agree 0
    CBA is hard to beat when they lend to 97%. This is attraactive when you can add on top of your loan the LMI. LMI has become a significant fee with the premiums being astronomical in the >90% LVR space. On $400K the LMI on a 95% deal is in excess of $12K. IN today's climate, borrowers need to think hard about who their loan lender will be as they will be with them for a VERY long time becasue to refinance will cost them another LMI fee and this becomes too unbearable on their debt exposure and most don't have it it savings offset.
    Good deal CBA. Just make sure you look after the post settlement service to your new clients!!
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