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Delays Mean First Homebuyers May Miss Out

Discussion in 'Finance & Banking' started by Simon Hampel, 30th Mar, 2009.

  1. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Mortgage Choice - Delays Mean First Homebuyers May Miss Out | Lending Central | Your Mortgage News

     
  2. Jacque

    Jacque Team InvestEd

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    I believe that stricter assessment criteria is here to stay, with banks like CBA wanting to see minimum 3 mths evidence of real saving, not just gifts from parents or the grant counting towards deposits for FHB's.

    I don't think it's necessarily a bad thing either, as many FHB's have such little deposits and entering the market at a time of historically low rates could provide them with a false sense of security that mortgages aren't all that "hard".