I agree with Ms Neilsens comments about the need to do more and the fact that some segments of the market are finding it harder to borrow funds BUT…
The non conforming and Low doc and No doc clients do still have the opportunity to borrow funds.
There are a number of specialist Brokers around that, like Mortgage Now ( http://www.mortgagenow.com.au )still have specialist lenders available that can do straight asett lending (no doc) and self certified lending ( low doc) as well as a full range of non conforming products that can assist borrowers that have impared credit or that may be behind in Mortgage Payments.
Whilst things are definately tighter now than they were this time last year, Clients with special needs need to find a broker that understands those needs and can still get them back on track.
If your Aggregator or lender cant help, Keep looking as there is help out there.
For further information on Mortgage Now, Please visit www.mortgagenow.com.au or Telephone Graham Doessel on (AUST) 1300 667 239