Any lenders doing 95% on purchases?

A friend of mine is a first home buyer and after a 95% loan. Are the days of these products gone for the moment, or are there still a couple of lenders doing it? Thanks

 

Try RAMS.

But definitely get them to shop around and use a broker if they need help.

Ensure they are careful of deferred establishment fees that can slam them if the want to re-finance in the next 3-5 years.

 

I think Westpac still is too. Good luck!

 

Hi Bazza,

St George have a 10% deposit which 5% can be made from the FHOG and 5% from genuine savings (ie, proving you can save).

Cheers,

Dan

 

Hi there,

95% loans are still widely available on the market, however they are not heavily marketed by the banks like the used to be. Some banks have stopped lending at this level completely.

For a purchase, it's possible to borrow 95% if you've been a customer of your bank for a while, however it's for purchases only and not for cash outs (in most cases).

If you've been with your bank for a little while, call your banker or the loans enquiry centre - or alternatively, a broker.