Hi
@highland lad,
Please correct me if I am wrong. But if a purchaser has less than a 20% deposit, they are forced to pay for mortgage indemnity insurance. Although only the bank can claim on this. Which seems unfair.
Also the banks in the past have always loaded the interest rate above the RBA figure which they do not appear to have done this time.
Banks repossessing, would normally just sell off to recover most if not all of their debt, with no regard to the client.
I owned a real estate office, so I was up to date. But since I retired I guess things may have changed.
This is why I am surprised that the bank stocks are taking a hit.
