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No Deposit Home Loan

First Home Buyers

Posted Fri, 2008-03-28 16:01 by Broker

Most first home buyers in Australia are eligible for reductions in purchase stamp duty normally payable or other state government based first home buyer incentives when purchasing their first home to occupy.

NSW first home buyers should visit this page for the latest first home owners grant information.

There is also the opportunity of applying for the $7000 First Home Owner Grant from the Australian Commonwealth Government. Read more

Citibank Home Loan policy changes

Posted Wed, 2008-11-26 21:48 by Broker

Important changes to Citibank home loan products.

Due to the changing economic and market conditions, Genworth, Citibank LMI provider, has implemented changes relating to products and risk policy.

As a result, the following changes will be made to Citibank’s products to align with Genworth’s policy updates. Citibank’s product changes are effective 1 December 2008: Read more

  • Citibank will no longer offer Self Certified 70

First Permanent 106 Percent Home Loan Lender Announcement

Posted Wed, 2008-04-16 18:18 by wes@ability

First Permanent the lender behind the 106 percent no deposit home loan and the Establishment Home Loan have issued the following announcement.

16th April, 2008

Important announcement

Due to the global liquidity crisis, First Permanent will, until further notice, cease new mortgage lending activity effective last Friday 11" April.

First Permanent's shareholders are currently considering several options for the business. Read more

Home Loan Deposit

Posted Mon, 2008-04-07 12:00 by wes@ability
Deposit for a home purchase can be made up of three different stages.
  • The total available deposit available to contribute toward the purchase.
  • The holding deposit usually payable when an offer is accepted but prior to the contracts of sale being signed and exchanged.
  • The 5 or 10 percent deposit usually payable following exchange of contracts for sale.
When there is only a limited deposit available a 5 or 10 percent deposit requirement can usually be avoided by obtaining a deposit bond or deposit guarantee. Read more

Changes to No Deposit Quick Start Option - effective 7 April 2008

Posted Thu, 2008-04-03 22:13 by Broker
From 7 April 2008 St.George/BankSA is making changes to the No Deposit – Quick Start Option. This option is suitable for those customers who have minimal funds upfront to purchase a property. This includes customers who do not wish to pay the LMI or the LEF (Loan Extension fee). The changes are as follows:
  • The variable interest rate margin will increase from 0.32% to 0.50% above the Standard Variable Rate;
  • The fixed interest rate margin will increase from 1% to 1.15% above the Standard Fixed Rate; and
Read more
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