Hi guys,
An interesting scenario – for those experienced brokers – mate of mine from NZ is looking to buy an IP in Qld (approx AUS$950K)
It will be bought via his co. reg’d in NZ.
Him and his other Director are both overseas and they earn good income overseas. They are willing to guarantee the loan.
Can we go Low-doc on this? 80% LVR? What rates?
Thanks Guys/GalsAnanda
Hi Ananda,
If they can demonstrate their income they could do a full doc at 80% through a major and thus access excellent rates. If they need to go low doc there are still plenty of options available but they would likely have to take out a non-resident loan or else go through a non-securitised lender so as to avoid mortgage insurance, so rates would be a bit higher. Would really need to know the full situation to give an accurate quote but I hope this helps.
Kind Regards,
Cameron Perry
Director
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044Rcently did one for a UK PLC at 70% LVR at 6.89% buying an investment property in Brissie.
Admitedly that was pre yesterday so around the 7.25% should be the go.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 6.89%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Work off the theory Aussies are Kiwis and Kiwis are Aussies.
No Problems. Have to agree with Cameron though on the Securitisers side of things. Other than that Won’t be a hard one to work with.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055
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