95% ?
Morwell is available at 100%…..just did one recently…..go through a LARGE REPUTABLE brokerage!! Didnt ask about Churchill at the time as it has a high student population due to kids from Melbourne attending the uni there and I dont want to be paying reletting fees and having vacancies over the christmas holidays on an annual basis….Morwell seems to have a stable tenant base of born and bred locals.
Yes Morwell is easily available on 100% lend.
You certainly dont need a large brokerage as most are franchised and only good as the operator.
In most cases you buy a franchise is you can or havent got a name or client base. They are the Big M Brokers of the industry and have little indepth knowledge about investments.
Richard Taylor | Australia's leading private lender
Hi
My husband and I are new here, but we have a strong desire to invest in property doing so wisely of course.
My husband has just transitioned from ABN into a full time salaried position in the same field of work (He is a qualified builder and is now off the tools doing site supervision). We are wanting an investment loan to finance what will be our first invesment property, but not our last. We do not have alot of money to contribute maybe $3000-$4000 this is due to having to exhaust our savings from an injury I received over a year ago in a supermarket(negligance) and are awaiting settlement which could take another year, but in the interim we are out of pocket all the expenses for the injury including surgeries, physio, hubbies time off work etc. My husband is on $80,000 per year plus super (great cause now he gets paid even if it rains he he).
What we are wanting to know is how we can get the ball rolling with this minimal contribution, any info would be greatly appreciated and welcomly received.Cheers
JulesHi Jules,
With a good income and minimal deposit 106% lends are available. this means you can borrow 100% of the purchase price and borrow the costs too, e.g stamp duty and other fees. But if you read the earlier posts there a post code restrictions where you can buy.
Your post says you want to buy your first investment property, so if you have another property that has equity in it that you are willing to use the costs will be substantially lower.
regards,
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