Bendigo bank question

Discussion in 'Loans & Mortgage Brokers' started by Nina00, 17th Oct, 2021.

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  1. Nina00

    Nina00 Well-Known Member

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    Does anyone know if Bendigo bank are pretty tough with their lending criteria or not? I'm thinking about applying for the homebuyer fund and haven’t applied for a mortgage for many years. I’m currently renting.
    I realise most banks have tightened their lending but I know some are stricter than others. Thanks
     
    Nina00, 17th Oct, 2021
    #1
  2. The Y-man

    The Y-man Moderator Staff Member

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    It depends on many things. Rather than having to divulge you personal situation here, why not talk to a friendly broker?

    The Y-man
     
    The Y-man, 17th Oct, 2021
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  3. Nina00

    Nina00 Well-Known Member

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    I wasn’t really interested in seeing a broker as there’s only 2 banks participating in this.
     
    Nina00, 17th Oct, 2021
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  4. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    They will most likely have a debt to income ratio of 6, which is similar to Adelaide Bank.
     
    Tony Xia, 17th Oct, 2021
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  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    If you mean the FHLDS ............ there are a bunch, the Majors are out of places for the 2021 allocation

    ta
    rolf
     
    Rolf Latham, 17th Oct, 2021
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  6. Nina00

    Nina00 Well-Known Member

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    No it’s the homebuyer fund available in Victoria. I’m also not a first home buyer.
     
    Nina00, 17th Oct, 2021
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  7. The Y-man

    The Y-man Moderator Staff Member

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    I see. In that case please go with Bendigo as I have shares in it!! :D:D:D:D

    The Y-man
     
    The Y-man, 17th Oct, 2021
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  8. Lindsay_W

    Lindsay_W Well-Known Member

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    Why Bendigo over Bank Australia?
     
    Lindsay_W, 18th Oct, 2021
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  9. Nina00

    Nina00 Well-Known Member

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    Good question!
    I’m trying to look into Bank Australia too.
    I didn’t get a good feel with Bendigo but will see how I go.
     
    Nina00, 18th Oct, 2021
    #9