It would seem of late that the major lenders have decided to return to the good old bad days by amending their lending policies. Why? Because their lending share is dropping due to the policies introduced, post GFC, to reflect tighter credit assessment. And now that the innocent public believes that all is well with our economy the banks are returning to the heady days of 95% borrowing practices.
Every single individual who borrows should acknowledge that decisions have consequences and to ensure that those consequences are made part of the 'info-ing' up that the lender should provide to their client/s.
Caveat emptor - let the buyer beware!
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