John Bolton

Banks have started to relax credit criteria for homeFirst Home Subsidy buyers that have comparatively high household income.  The main driver is ongoing job stability and reasonably stable house prices in the major cities.

It is not a free-for-all.  The banks are targeting those of you with household salaried incomes over $100,000 with good job stability, no outstanding debts, and a genuine 5% saved deposit.  You also need to have a clean credit history.

The criteria vary significantly from lender to lender and low equity fees will apply. The low equity fees vary significantly from lender to lender. It’s our job to get you approved and make sure we get you the best possible deal.

At 95% these lenders are looking for strong ability to service your mortgage.  Typically that means you can borrow up to four times your income.

John Bolton
Chief Squirrel

The former General Manager at ANZ National Bank, JB has brought his broad depth of experience in the banking industry to Squirrel, which is his own company. JB has directly managed over $30 billion of mortgages and deposits and is a regular commentator on the mortgage market in the press and on TV. JB has a BCA from Victoria University and has undertaken post graduate study at University of London. He’s easy going most of the time, except when it comes to his calculator (he’s pretty neurotic with it).