Forum Replies Created
Richard
All of our loans are insured irrespective of LVR. The borrower only pays the LMI if the LVR is over 80%
Regards
Hi Y0omama,
Its unfortunate that a public forum such this one which is designed to be an accurate information source for people such as yourself can becomea little bit unprofessional at times.
With respect to Richards comments and in allowance of his own personal opinions we would like to clarify a few of his comments which were false and without research.
The comparison rate for our standard variable rate is 5.08% not 6.41%
Most professional package loans have an annual fee and we are no exception. With regards to features, SCMC won numerous awards last year including the "Best of the Best Money Magazine awards" which compared us against all of the major lenders in Australia. Our loans are also rated 5 star by CANNEX and we won Mortgage of the Year 2008.The DAF fee is clearly listed on our fees and charges page and is qouted as being the equivalent of 1 x months repayment. Of course a dollar figure cannot be listed under this formula
We definately dont purport to be all things to all people and borrowers who requiire lo-doc or fixed rates are welcome to take advantage of our broking arm.
I hope this explains things in a bit more detail, I'm sure Richard is a fine mortgage broker who has just misunderstood our products specs.
Hi,
Unfortunately we do not deal with mortgage brokers. All of our clients come to us direct.
Feel free to give me a call on Monday we would be delighted to welcome you as a client.Hi,
Unfortunately we do not deal with mortgage brokers. All of our clients come to us direct.
Feel free to give me a call on Monday we would be delighted to welcome you as a client.Hi there,
There are currently 3 lenders self insuring – St George Bank, ANZ and RAMS. CBA have dispensation to approve their own insurance however it is Genworth who is allowing them to do this.
None ofthe above lenders charge more in fact St Georgeis cheaper than everyone in the market
Happy borrowing
Hi there,
I work at SCMC and can say that we are FANTASTIC to deal with.
Give them a call.Most lenders don’t like serviced apartments because they are looked on as a specialty security, ie not everyones cup of tea. If the bank is left holding the property due to a default by the borrower, they feel that the property may be harder to sell and subsequently revovery for the lender becomes harder. As a consequence their risk is increased and thats why most lender either refuse to lend on them or will do so but at a much lower ratio, normally 60%
Good Luck
Mr Mortgage
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