All Topics / Finance / 95% loan required

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  • Profile photo of mitcheosmitcheos
    Member
    @mitcheos
    Join Date: 2005
    Post Count: 4
    August 18, 2005 - 3:40 am

    Can someone please help me try to find a suitable lender.

    Im looking at refinancing a loan at 95% interest only. Then looking at setting up a line of credit with this lender (at the same rate) and borrowing at the same rate to purchase another property.
    I also heard that there is a new mortgage insurer in the market that will lend up to 95% without incurring mortgage insurance. Is this true?

    thanks heaps

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    August 18, 2005 - 4:03 am

    Hi Mitcheos,
    Unfortunately mortgage insurance will apply over 80% LVR.
    Depending on your circumstances an LOC may not be the best option, especially if non-deductible debt is involved, need more info to advise on correct lender/structure etc, feel free to call or email. 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.

Viewing 2 posts - 1 through 2 (of 2 total)

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