Hi,
This one is for all the mortgage brokers out there.
I am seeking a log doc loan to purchase a property through a hybrid trust (with a coporate trustee).
I've enquired with ANZ and they only have a loan term of 15 years, making repayments quite high.Does anyone know of other lenders that may be able to offer anything better?
Thanks in advance,
Timbo.
I am assuming that the lvr is less than 60% as Anz wont do lodoc above this LVR.
80% is still available but you need to be quick as it wont last forever.
I am doing one for a client at the mo and there where only 2 lenders we could find still doing lodoc on HDT structures.
Richard Taylor | Australia's leading private lender
is a Hybrid Trust the same as a Family Trust?
reason why i have purchased an off the plan INV property which is settling in about 4-5 months.
I bought it in a Family Trust name and i was hoping to get 80% as a Low Doc.should i be worrying???
Hi Ridiga
No i am assuming you have used a Discretionary Family Trust to purchase this property.
Have to say with the speed that lodoc is disappearing I would be getting the application in fairly quickly as anything over 60% many lenders require copies of your BAS for the last 2 quarters.
A good mortgage broker should be able to steer you in the right direction but remember are only human and whilst i like to think i can perform miracles sometimes leave that to a higher power.
Richard Taylor | Australia's leading private lender
OK………..i just been told by my broker that banks are not doing Low Doc's for Family Trusts.
can someone please help……..which bank will do 80%, 70% or even 60% for a purchase in a Family Trust.
And it needs to be Low Doc.my broker has pretty much said he cant help………..which is always good to hear….not
Simple answer Rudiga switch Brokers as we have done several over the last few days for clients with the same structure.
Richard Taylor | Australia's leading private lender
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