My recent experience with borrowing for housing:* It's still...

My recent experience with borrowing for housing:

* It's still just as difficult to find a cheap house as it's always been

* Banks still make sure you are more than able to repay what they lend you (wish I could find the dodgy lenders that would loan more!)

* The questions on application like living expenses are nonsense and I always way underestimate because I couldn't be bothered calculating, and they use average figures anyway (they told me so) To me, debt and income are all they really need to know, and it should be my responsibility to ensure I can service the loan (I'd never pay mortgage insurance, so they always have a 20% buffer to start with)

I would love a huge fall in prices in areas where I'd like to buy, but my observation is when anything is cheap, there is a lot of competition to snap it up.

I'm sure banks are aware of what portion of their loans are risky, and are happy to wear that risk - I mean it's an incredibly profitable game - I think a bit of risk is acceptable.

I'm way heavy in property, but I'm happy providing affordable accommodation to tenants. So long as I can service the loans, I really don't mind what happens to prices.

I'm also happy to be invested in WBC, and grateful for this opportunity to buy at what seems a pretty reasonable price.