All Topics / Finance / St George withdraws its 100% product

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  • Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    SGB is the final lender to withdraw its 100% product wef 9th April so financing a deal for a First Home Buyer will get hard and harder from now on.

    With many lender cutting back to 90% maximum lvr buyers generally are going to need equity or cash to continue buying property in Australia.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    mattnz
    Participant
    @mattnz
    Join Date: 2007
    Post Count: 574

    Wow, people will now actually have to demonstrate they can save money to be able to purchase houses for hundreds of thousands of dollars.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Yes about time too.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970

    Richard,
    Do you think it will cool down the price in the future by introducing 90% LVR?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Yes certainly do. In the UK now it is a maximum lvr of 85% across around 90 lenders and the investors are buying more and the first home buyers finding they just get on the band wagon.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

Viewing 5 posts - 1 through 5 (of 5 total)

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