Westpac sounds out developer interest in no-presale loans

Westpac sounds out developer interest in no-presale loans

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Couple blames $430,000 loss on Westpac's 'irresponsible. – Westpac relied on an expenditure benchmark – the household expenditure measure (HEM) – which estimated the couple’s monthly expenses to be $3230. But the couple’s bank statements, which were submitted as part of the home loan application, showed the family’s actual expenses were on average closer to $9800 a month.

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"After all, lower prices mean more affordable housing for people who would otherwise be priced out of the market." In December APRA lifted the cap that had restricted banks’ interest-only lending to 30 per cent of new loans. Interest-only loans, the favourite of property investors, have been notoriously down.

The construction part would be an interest only loan usually prime plus 1 or 2%. Interest. Westpac sounds out developer interest in no-presale loans – Westpac has been sounding out developer interests in a new "construction and investment" loan that. the bank would offer another short-term loan on a fixed interest rate to see through the.

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