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Broker slams major banks over lending criteria

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Your Investment Property | 11 Apr 2016, 03:47 AM Agree 0
Major banks are applying lending criteria that is "silly and irrelevant" according to the head of a mortgage broking body
  • Steve | 11 Apr 2016, 08:38 PM Agree 0
    So does that mean the bank will accept my living expenses as 20 percent of the benchmark as I am a fifo worker on a 28/7 roster with no expenses for the 28 days I'm away other than existing mortgage, insurance and line rentals for electricity and water/ sewer connections.I don't think so, I'll still be loaded with hundreds of dollars per week for clothing and entertainment, petrol etc as per usual.I'm extremely lucky to be nearly able to purchase next property cash up and I will never use a bank again, not even for savings as the rates are not worth it, 3 -5 % less taxes and fees means trading goods through eBay will return more
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