how come our banks are up...., page-21

Hi Frantic, I don't know any banks in Aust that would lend 100% on your principle place of residence unless you had other equity. Buyers had to pay mortgage insurance if they didn't have a 20% deposit. This was to protect the banks if they defaulted not the homeowner. I know when I was looking for investment property several years ago, all the big 4 banks were very particular about how you could repay the loan if interest rates went up or you didn't have ample equity. However, this was a few years ago (2 or 3). I don't know about the other banks, thou I assume they were similar. What have been others experiences with the banks in more recent times?