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.mattnzParticipant@mattnzJoin Date: 2007Post 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.god_of_moneyParticipant@god_of_moneyJoin Date: 2008Post Count: 970
Do you think it will cool down the price in the future by introducing 90% LVR?
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.