Who lends the most?

Viewing 7 posts - 1 through 7 (of 7 total)

JenD
Participant
@jend
Join Date: 2004
Post Count: 33
May 6, 2005 - 2:33 pm
Hi all,
I know this question may sound vague, but we are having trouble gaining more finance for an additional investment property because of our existing debt in our current property, and I was wondering if there are lenders out there which generally tend to lend more than others?
Cheers,
Jen
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
May 6, 2005 - 5:20 pm
Yes there are. You should speak with a knowledgeable mortgage adviser and utilise their services so you do not face such problems.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.au

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Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
May 7, 2005 - 5:34 am
Hi Jen,
Be very careful, the lending institution prepared to finance the highest amount may not necessarily be the right choice of lender for you,
As Rob mentioned talk to a Mortgage Broker, You may be pleasantly surprised to find that you do qualify for the higher loan amount with more lenders than you realize, including the lenders who have told you otherwise,
But more importantly a good mortgage broker will structure your finance with your immediate and long term goals in mind, I believe this should be the main criteria when selecting a lending institution, Cheers.
Regards
Steven
Mortgage Broker
Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au
PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
May 8, 2005 - 12:26 pm
It depends on each person’s situation. SOme for example allow 100% of rent to be taken into account, others only 70% – not much good if you don’t get any rent. Some also allow negative gearing benefits to be added back. or some self employed benefits to be added back.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Stuart Wemyss
Member
@stuart-wemyss
Join Date: 2003
Post Count: 598
May 8, 2005 - 11:52 pm
I agree with all the comments above about seeing a broker…
I find HSBC is commonly the lender that has the highest borrowing capacity for property investors.
Cheers
Stu
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
May 9, 2005 - 12:46 am
Having outed the lender Stu, do you agree that HSBC are easier to achieve better results with when applications are submitted through a mortgage adviser?
I certainly find this to be the case with many of the larger lenders.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.au

Investor Links
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
May 9, 2005 - 5:06 am
Robert
I agree with you wholeheartedly about finding a better deal using a mortgage broker to process the application for you.
Look at our mate salib and his contacts with Homeside. Certainly the client wouldnt have negotiated that sort of deal on his own.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.
Richard Taylor | Australia's leading private lender