Archive for "September, 2009"
CBA increases fixed rate Low Doc Loans rates
September 29, 2009 | Comment 0
Fixed rates for Low Doc Loans on the move up again. Low Doc Loans are getting more expensive. In the last six weeks we have rates for fixed rate low doc loans move over one percent. As a footnote to the above, CBA are now requiring BAS statements with their 80% low doc loans. There is still alternative low doc finance out there at 80% for both purchases and refinances that do not need BAS. ...Read more.
RAMS increases its fixed rate low doc loans
September 18, 2009 | Comment 0
RAMS has increased its fixed rates for low doc loans today for loans 1-5 years Further effective 24 September 2009 All RAMS Low Doc loans applications are to be supported by the following:- 1. Business Activity Statements (BAS) for the past 12 months and ATO Lodgement Reference Number AND 2. The last 3 months account statements evidencing payment of tax as advised on the BAS. As a foo...Read more.
What is the future for Low Doc Home Loans?
September 11, 2009 | Comment 4
Low Doc Loans have been around for many years. Previously low doc loans were done through solicitors funds at around 66%. Over time, the banks then started to slowly start to enter this space. In 2005, the RBA commented about Low Doc Loans. For the full article. With the beginning of the credit crisis in 2008, there was a general tightening of lending across the board. Much of this was t...Read more.
