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X Inc panel lender Westpac has taken back-to-back Canstar Cannex First Home Buyer Awards.
CANSTAR CANNEX evaluated 403 loans from115 lenders to determine which lender offered the total home-buying experience.
The process involved a review of printed and web-based educational material, the home loan application process, level of access to a real person to provide that guiding hand and products and features tailored specifically for first home buyers.
CANSTAR CANNEX said Westpac ticked all the boxes with its impressive loan products designed for first home buyers which incorporate discounted application fees.
It also noted that Westpac offers a higher loan-to-value ratio (LVR) ...
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Categories: Home Loans and Mortgages. Tags: First Home Buyer, Home Loan Application Process, LVR, Westpac.
Getting a home loan without genuine savings will soon become a thing of the past as more lenders move to tighten their lending criteria surrounding high LVR loans.
Bankwest and Homeloans Ltd are just the latest lenders to tighten their credit policy and require borrowers to demonstrate genuine savings.
Effective today, Bankwest will require 5 per cent genuine savings for purchases where the LVR is greater than 85 per cent, while Homeloans Ltd will impose the same requirement tomorrow.
The lenders' decision to factor in genuine savings requirements is line with a move by the majority of lenders to tighten ...
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Categories: Banking and Finance, Home Loans and Mortgages. Tags: Bankwest, genuine savings, Homeloans Ltd, lending criteria, LVR.
