According to analysis done by Rate City: "70% of the 2,800 home loan products on their database are now allowing deposits of 5% or less. This proportion was 86% in early 2008 and fell back to 49% in 2010."
Also, about one-third of first home buyers are taking on 40-year mortgages to make their repayments affordable.
These loans are available to FHBs so they can borrow up to 98% LVR.
Would you like to provide the actual link to Rate City's article clearly stating that "Australia's subprime crisis is in the making"?
Better still - would you like to provide the actual lending data, including the FHB loans and LVRs?
