All Topics / Finance / New 80% Nodocs???
Hi everyone,
Heres a qoute from investor directs latest newsletter –
“Also a few more lenders have introduced 80% No Doc product – this is great news too.”
Previously only Rams had this product, anyone know who these new lenders are & any details?
Thanks in advance
GrantGrant7,
The following finance have had NO Doc’s 80 for some time. Carrington National & Interstar. Check them out
http://www.carringtonnational.com.au/pics/forms/forms%20may06/NO%20Doc%2080%25.pdf
Interstar only use brokers for their business. Ask your broker about the fees,interest rates and requirements for their products.
Best of all they can be for either regulated (Domestic use) or unregulated (invesment) purposes
Hope this helps. Tell us how you go
Joshua McEwen
Finance Consultant – WAMob:0430 452 497
http://www.prestigeloans.com.auBrokers Lic 1297
Licensee Brett ChristieThanks Joshua,
Carrington is interesting, unfortunately they require 2 yr ABN which I havent quite reached yet.
But has anyone seen this at
http://www.investorsdirect.com.au/newsletters/072006/story1.htm2. How can you keep borrowing money without an income?
There are mortgage products that will allow investors to borrow 80% of the property value without having an income at very competitive interest rate. For example, the Investors Direct Equity Converter mortgage only requires no income declaration and only 1 day ABN number to qualify (other conditions apply). The product allows investors to use debt to service debt, instead of income to service debt.
It literally turns capital growth into your cash flow.
Bill Zheng
A 80% Nodoc needing only 1 day ABN!!!
Seems like it may be what Ive been hunting for..[exhappy]Has anyone used it or know much about it?
Thanks
GrantThere are a couple of new lenders but the rates are higher than normal.
Cheers
Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
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Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
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