Carlin

I disagree that the average MB has a limited choice of lenders.

Most brokers could access over 30 lenders and probably 300+ products.
In saying this 80% of these lenders are not investor orientated, do have a problem with Trusts, service level are totally unacceptable and what is a special today is not tomorrow.

Serviced accomadation is a very limited market place for lenders so most will limit how much they want to lend (if at all).

In regards to your requirements your broker would need to know the entity you would be purchasing in, the approx purchase price, loan amount required, loan features if any etc etc.

Regretfully not as the eventual bid price is still to be determined.

Certainly you can get a valuation of the property and no doubt your broker will do that but it means nothing if you decide to bid a little higher to secure it.

Matt is correct it is not a matter of you being confortable with the loan repayments but more of a matter whether the finance meets the square box of the average lender.

How long will you be living in the property before you sell it  ? This could have a bearing on your stamp duty concession and FHOG eligibility.

Get your broker to provide you with a copy of the valuation report (Many lenders will allow this and brokers can instruct the valuation upfront with a couple of institutions) and see for yourself. This will cost you nothing.

Oscar
Certainly would be switching it interest only but i also think there are a few more considerations dependant on whether you have another non tax deductible debt.

95-100% dependant on the lender.

I am with you Alistair i think we have 2 heads and charge like wounded bulls. 

You will not find a lender offer you 90% without LMI unless you are happy to use a non conforming lender.

The 2 or so lenders that offer 85% with no LMI will not do so under a HDT or UT structure.

Boshie

You could always consider a private 2nd secured mortgage (albeit at a higher interest rate) and use the 15% raised as deposit and then take a 80/85% lodoc / nodoc loan at a sensible interest rate.

Alistair

4 posts in 3 years. You are unlikely to get a response until 2010.

Many lenders now offer cheaper rates products with an interest rate cheaper than the old step down rated products.

At 90 – 95% LVR however you would still be paying way over the odds.
You would be better to consider a 80% Lodoc product and a even private funding for the 10% or similar. 
The combined rate would still be considerably cheaper.