Commonwealth Bank No Deposit Home Loans not available from Monday 1 December 2008
The Commonwealth Bank is withdrawing its $0 Deposit home loan from the market. Applications with supporting documentation will be accepted up to 11.59pm Sunday 30 November 2008. No new applications will be accepted after this date.
The $0 Deposit product is being withdrawn from sale due to the introduction of the Boost scheme to the First Home Owners Grant. This increase in federal government assistance, plus additional grants from some State Governments, lessens the need for first time buyers to borrow 100% of the purchase price of the property.
Home Seeker Home Loan Pre Approvals
Customers who have a Home Seeker Loan approved with the $0 Deposit option will still be able to convert their application provided this occurs within the 12 month approval time frame and subject to the following:
- No increase in the original loan amount approved
- No changes to the original approval conditions.
Contact Ability Finance brokers using this email form or telephone 02 80024035 for more information and assistance with choosing and structuring suitable no deposit home loan.
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