which lenders finance wraps

Viewing 9 posts - 1 through 9 (of 9 total)

sfenton1
Member
@sfenton1
Join Date: 2005
Post Count: 1
February 15, 2005 - 12:01 pm
Hi there, been trying hard to find a lender who will finance a wrap. Can anyone help???
lifeX
Member
@lifex
Join Date: 2004
Post Count: 651
February 15, 2005 - 12:09 pm
Depends who the mortgage broker knows up the chain…. a lot of the brokers who post here have contacts who can get lenders to agree to a wrap
cheers
Live, Learn and Grow
Lifexperience
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
February 15, 2005 - 2:26 pm
Not many will knowingly finance wraps.
Liberty have said they will, but I have not actually tested them out. Rates these days with liberty start at 6.69%, so it may be an option.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
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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
oscar
Member
@oscar
Join Date: 2002
Post Count: 41
February 16, 2005 - 1:18 am
PM me and i’ll put you through the finance person we use that allows wraps.
Cheers [aacool]
Oscar
wessy7249
Member
@wessy7249
Join Date: 2003
Post Count: 14
February 17, 2005 - 5:55 am
can help with bank finance in VIC and NSW IF and I mean IF you are an established wrapper and you only require 80/20 loans
Regards
Wes
FW
Member
@fw
Join Date: 2002
Post Count: 478
February 18, 2005 - 4:01 am
You could try http://www.avibe.com.au
They do disclosed wrap finance.
Keep smiling
Felicity
retire40
Member
@retire40
Join Date: 2005
Post Count: 17
February 18, 2005 - 4:30 am
So, say, I finance a property using a normal bank loan.
If I then decide to wrap it for someone, does the bank need to know or find out?
As far as they know, I’m still renting it out right?
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
February 18, 2005 - 6:26 am
Retire
Technically they will need to know – as the mortgage documents will prohibit wrapping wthout their permission.
But they will be unlikely to find out if you decide not to tell them.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email me
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
retire40
Member
@retire40
Join Date: 2005
Post Count: 17
February 18, 2005 - 12:37 pm
So, its basically “do at your own risk” scenario.
Thanks for the info! [specool]