Hi all,
Does anyone know a few banks that are familiar, and more to the point comfortable with wraps? What I would ideally like to do is use the entire income as servicability for my next one.
Another question is, if the banks are familiar and comfortable, can I use the entire wrap income for the same deal? (did this make sense[confused2]?)
Dan.
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my suggestion would be that it would vary from Branch to Branch.
put something in writing as in conditions and submit it to the Bank Manager – see what they say
Kind Regards,
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It seems most banks/lenders have policies of not lending for wraps. But it seems some people have gotten around this by:
1) not telling the bank they are wrapping, or
2) going thru a local branch manager (who may or may not understand wraps and their own bank’s policies).There are also some small lenders specialise in lending for ‘wraps’
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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