New 85%LVR Low Doc

Viewing 5 posts - 1 through 5 (of 5 total)

Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
November 29, 2006 - 6:55 am
RAMS have just released a new Low Doc loan that goes up to 85% LVR.
– Rate is 0.20% above standard 80% LVR low docs (rate varies depending on amount and product).
– No ABN needed.
– No LMI payable by borrower
– Only available on RAMS own mortgage insured loans.
May come in handy for some people.
Terryw
Discover Home Loans
Parramatta
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Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
redwing
Participant
@redwing
Join Date: 2003
Post Count: 2,733
November 29, 2006 - 3:58 pm
GREAT
How does MacBank/RAMS/Others compare in regards to loan by me but purchase through HDT Terry?
“Money is a currency, like electricity and it requires momentum to make it Effective”

Online Positive Cashflow and Renovating Calculators
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
November 30, 2006 - 9:13 am
MAcquarie have no problems with hybrids, RAMS tend to if the trustee is different to the unit holder.
Terryw
Discover Home Loans
Parramatta
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Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
bernstar
Participant
@bernstar
Join Date: 2005
Post Count: 16
December 3, 2006 - 5:33 am
Hi all,
With what Terryw was saying about new 85% Low doc loan with Rams, does the purpose have to be strictly for a residential property or can it be for a development or even debt consolidation etc?
Also what exactly would you need to provide? Having no ABN at the moment yet I have traded in the past this may suit me as I do have a property worth $420K paid out in NSW and intend to use the 85% to fund a land purchase with an intention to develop + also need to consolidate a few debts etc.
Thankyou for your time.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
December 3, 2006 - 2:05 pm
Hi Bernstar
RAMS don’t like ‘developers’, strictly for residental property.
If no ABN, you would need to provide proof of being self employed for 2 years.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with â€œsubscribeâ€ in subject line.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au