Originally Posted by
stoploss
Hi JB ,
could do , currently second tier lenders have been swamped ......
Seems everyone currently wants to become a property investor .Anyone looking at moving desperately trying to hold onto current home and buy another .
Depending upon the lender this has become a lot more difficult if you take the 40 % deposit for investment property and 20 % for the new .Note they can do 10 % of their lending below the 20 % but can pick and choose . ( There are a lot of variables around this between lenders)
So currently things are a lot tighter , especially if you don't have 20 % deposit .
Also due to the responsible lending code , the serviceability criteria has tightened up a lot .
This is before the potential income to debt criteria that may come in ..........
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