There will be another 95% lo doc loan available in the next couple of weeks. I do not have all the details yet, but will post when I have the information.
Mobile: 0425 358 293
95% LowDoc??!!!! Wow.
I guess it will be postcode restricted?
Also which mortgage insurer will be holding the bag?
There is already one available, its been out for a few months now.
There is already one out there now, but there will be a new one hitting the market in the next couple of weeks.
If the product is similar to the 90% lo doc they have, there will be no mortgage insurance, but a settlement fee. The 90% product has a 1% settlement fee, payable on settlement.
Mobile: 0425 358 293
Hi.
What sort of interest rate do these loans have?
Also, I posted earlier on about giving an unencumbered property as security to get access to a L.O.C., would that qualify for one of these loans?
Thanx
A 1% settlement fee I can handle. It’s the interest rates that kill you and the break fees hold the funeral.
Just repeating Maximus here. Whate are the interest rates (and the break costs?)
Love a report when you know
markk
Happy Hunting
http://www.kentscollections.com95% Low Doc.
Interest rate 9.45% $600 App fee, 3.5% for LMI
Break costs 3.5% year1 & 2 and 2% in year 3More credit providers will soon be putting these products on the market, so as the competition heats up the rates and fees will become more competitive, cheers.
Regards Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Steven
Thats the First Mac one. I think notabrokeranymore may have been referring to another 95% low doc?????
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes I know Terry cheers,
I forgot to mention the 95% product I referred to require a portion of the security to be owner occupied, hopefully the new 95% product NABAM mentioned will be more investor friendly, Cheers.Kerrie could you send me a product matrix when its released, Thanks.
Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Steven- I’ll send you a product matrix as soon as it is released.
I will also post the relevant details regarding the product on here.
Mobile: 0425 358 293
Thanks NABA, cheers.
Regards
steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Bluestone have a new 95% low doc too:
– Rate 10.79%
– Owner Occupied only
– Clear credit report
– Minimum population requirements of 75,000 within 10kms of the security property
– Max loan is $350,000
– Must have held an ABN and be registered with GST for 12 months or more.
– No LMITerryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
There are actually a few 95% low doc products on the market. They are usually very expensive but the one Kerri is referring to is one of the best I am aware of.
Robert Bou-Hamdan
Mortgage Adviser
You must be logged in to reply to this topic. If you don't have an account, you can register here.
