Hi guys, just looking for a bit of aheads up.
Does anyone know of a lender that will lend either 70 or 80% on properties in regional Tasmania (town of 2000-3000)? Specifically seeking no-doc or lo-doc short term self employed (less than 3 months).
Obviously i’d prefer 80% but realistically i know that’s probably not possible.
Thanks all!
Sarah
In nodoc or lodoc lending the most important thing is the post code.
Email me the details and I can check the mortgage insurers listing for you.
Cheers
Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
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Probably the two major LMI companies will not allow Low Docs in there areas you are considering. However, there is a no lender out there who claims to be able to do a Low Doc in areas these two LMI companies cannot lend for.
ANZ will also do Low Docs in most areas at up to 60% LVR – but not for companies or trusts.
Terryw
Discover Home Loans
Parramatta
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Hi Angel_Babe
I work for a lender who would definately look at the properties based on the population size and the actual deal itself and may be able to obtain a higher LVR. If you wish me to follow up on this please feel free to PM me and I will be happy to see what we could offer.
Regards
Andrew
Would you like to tell us who that is that you work with then Andrew?
Cheers
Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
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Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Well I work for La Trobe Financial Services. I look forward to all the negative information that you may have. I am not trying to request people use the company, but am more happy to assist with any queries they may have and to assist them in making a correct decision in regards to there investments.
I am also extremely interested in the information you, Terry and other brokers provide that may assist me in obtaining finance for further property investments.
Hi Sarah,
A good website to look at is: http://www.homepriceguide.com.au.
Then go to suburp snapshot and enter the postcode and it provides a demographic guide to the area.
Regards
Andrew
No one is here to bag anyone. All the people here are friendly and only wish to get to know you more. By telling us where you are from, could raise questions that only a La Trobe employee might know.
Back to the questions.
very hard to find a low doc lender that wil lend with only a short term employment, Westpac does not check ABNs however you still have to place on the application that you work in the industry for more then 2 years.
The only option i might see is doing a No-Doc. Interstar, RAMS, Macquarie are probably your main avenues for No-Doc.
Cheers
Joshua McEwen
Finance Broker – WAhttp://www.prestigeloans.com.au
Brokers Lic 1297
Licensee Brett ChristieJosh
Unfortunately the lenders you mentioned will not do Nodoc in the post code Sarah wishes to purchase in.
Must admit whilst on the surface the initial service from La Trobe appears good the problem i have had with the last 2 deals i have done through them is the actual underwriting.
Most recent deal was valued at $425K and the client wanted $250K. Immediate approval in principal was issued but as it i was a big block and the client was in the process of subdividing it La Trobe made it a condition that he subdivide it first before they would proceed. Post Subdivided valuation was $750,000 so very little risk.
I ended up doing it myself on a bridging basis and will refinance it back to a standard lender afterwards. All i would say is what they offer isn’t necessarily the terms they actually lend on. And the interest rate isnt the cheapest going around.
Cheers
Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Apologises, was only giving respectable No Doc Lenders [exhappy].
I dont go to La Trobe personally, only consider them for Commerical Lending.
Cheers
Joshua McEwen
Finance Broker – WAhttp://www.prestigeloans.com.au
Brokers Lic 1297
Licensee Brett ChristieHi Guys,
We would be able to look at a Lite Doc facility without an ABN for 2 years. As long as the borrower shows on the application they have had experience in the same field. This is not a major issue to La Trobe who also deal with 1 day ABN’s in some cases if the remainder of the deal is strong.
Richard,
Unsure in regards to your issue with the subdivision as we will most likely look at advancing on the subdivision value if there is a current DA (development application) in place. It there is no DA from the council then unfortunately we can only base the loan on the value of the property as it stands. We deal with a lot of DA loans on a regular basis.
I think you guys should benefit from a visit by La Trobe BRMs who can assist with any deals. I would be more then happy to let you know of anything that La Trobe could offer in relation to any scenarios that may even surprise you. Why not see what we can offer.
We assist with large acreage, serviced apartments, rural locations and many other means.
If anyone has a query regarding what La Trobe can offer I would be more then happy to oblige.
Andrew
Hi Andrew
My understanding was just that. You would consider advancing against the present valuation if the subdivision was not complete.
I deal weekly with development loans and most lenders i deal with lend on either present value or GR. Undfortunately LA Trobe flatly refused the deal until the subdivision was complete despite having ample security in the project as is.
Cheers
Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Hi all,I find latrobe fantastic to deal with !!!! very flexible indeed ,i am in east gippsland (rural) i do small sub divisions ???? might be an interstate thing????? cheers john…[medieval]
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