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Will we see 100% Home Loans again soon?

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 Before the Global Financial Crisis we had lenders offering 100% finance and no deposit home loans which was mostly aimed at the First Home Buyers market who may have been employed and renting however had not managed to save up a deposit. Banks consider this high risk lending and the QBE Lenders Mortgage Insurance chief executive Ian Graham has said that despite increased discussion of the potential comeback of 100% lending in the near future he does not expect it to eventuate mostly due to the new National Consumer Credit Protection (NCCP) regulations that make lenders more measured when they provide credit.

We have recently seen lending increase from 90% back up to 95% however in my experience it has to be a very strong deal in order to obtain approval at 95% however is still very possible.

Overall, Graham said he expects the NCCP would have a positive impact on lending standards. "Misinformation and predatory lending are the primary targets of the NCCP. I'm confident we will see better quality business over the next decade than we saw in the last," he said.

I personally do not expect to see 100% loans back in the market any time soon and if they do it more than likely will restrict the post codes and it will be interesting to see if they would actually be available in our area.


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