Only 10% deposit now says Commbank

Then there must be some form of "certified" ID or you were a previous customer of the bank? Don't the AML laws state that a customer must be suitably identified? Simply providing ID, without a face to face ID check, isn't compliant.

 

Scans of ID, JP certified, the what nots.

 

The good old what nots, the most important component of anything.

 

I have also used a broker in the past who I never met although I prefer to see them in person. The loans I obtained were with a bank I had no relationship with at the time.
I thought this was common?

 

Probably just means the broker signed off on having identified you so if you were in fact laundering money...they might get in strife.

 

Word of advice stay away from the CBA.......

 

You can even borrow up to 100% !

Subject to you can use your parent's property as equity, use your existing property as collateral, you have partner willing to contribute equity/cash,.....etc

What CBA home loan person may not tell you is all the fine print and conditions.

I found many banks or lenders like to say "yes, we can do this or we can do that" especially on the phone.
But when people show up in the branch or when it comes to formal approval or loan interview, people realise that there are many "subject to" and "conditions" before the formal approval.

Just like toward end of the last year, ANZ changes its oversea lending policy to 70%, but ANZ staff and bankers still say "yes we can do oversea lending up to 80%, please submit the loan to us" till the credit team reject for my final approval.

I would always say preparing for more will not hurt, especially in the current fast changing lending environment. Also, ensure you know the conditions and subject to...

 

Hi, yes it's still 95% inclusive. I would do it under the 3 year rate saver and then refinance in 3 years.

 

I told them that I might not move into it straight away. She said well if that is the case I have to tell them as the interest rate will be different. The house is in another state. It settles next week.

 

i believe that ID is required when you do a credit application like a pre-approval other than that most brokers should be able to tell you based on their experiences what works or not without the pre-approval app so you have some indication of what works or not. But if going ahead with it, yes full ID required.