Word on the grape vine is that First Permanent will next week announce its 106% loan is to include SELF EMPLOYED & Investor with 70% of rental. Apparently their loan limits are to go up but I don’t know by how much. A broker buddy in Wagga said they will be allowed to lend there.Some other announcements are to be made (but don’t know what)

ANYONE…[Read more]

Richard –

Thanks for the Devine Ltd clue – I just visited the establishmentloan.com.au web page which is the loan brand name of First Permanent. There I discovered that First Permanent – while owned by Devine – is actually funded by Merrill Lynch New York. Where does Bank SA/St George fit in?

Ron

Jim,

The First Permanent 106% loan is a full doc. While the rate is a tad higher than standard, these guys will get you out of that loan into a conforming one ASAP. They even encourage their introducing brokers to ‘refinance’ the loan ASAP. Great Product…does anyone know who the genius behind the 106% is???