Currently we have a home loan with GE money and are not happy at all with the treatment of us as customers or with the way our loan has been set up. We would like to refinance after discussing with GE and they basically responded with a DONT care attitude..
Can anyone suggest a good refinance product that has a high LVR, is able to include the LMI into the loan amount and has a fairly good interest rate (interest only).. i know im asking alot but you never know whats out thereDepends on a lot of factors such as whether you can provide proof of income, your level of income, size of the loan etc etc etc. ANZ is pretty good at the moment for full doc loans.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terry I earn approx. $60K as a teacher and my wife owns her own business (for 9 years) but is paid by the company approx $60K. We have a $400k loan and a property worth between $500 and $570 ( have been given a few appraisals and they are all different. We know its around $550 looking at recent sales in our area with similar land size.. As i said any help with product advice would be great
I would probably go to ANZ or St George. stay with one of the majors, get an IO loan with a 100% offset on a professional package.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Funny how great minds think alike.
Terry has highlighted the 2 lenders i am using predominately at the moment for a variety of factors including pricing, product range and service levels.
Richard Taylor | Australia's leading private lender
Suncorp have some special offers at the moment that are worth having a look at..
Cheers
Pat
Pat the after sales service with Suncorp is an absolute disagrace.
Richard Taylor | Australia's leading private lender
Too right, Richard
I wonder if it is worth it sometimes…
Pat it is not ……..trust me.
Richard Taylor | Australia's leading private lender
Looking at St George and ANZ websites, I cant seem to find any info on their professional packages? Why is this? Is it because they would rather sell to customers basic packages rather than advertisement specials??
Maybe – I have noticed with a couple of the banks now you have to do a fair few clicks of the button just to find the interest rates. While ANZ do not mention it, the likes of CBA, NAB, StGorge all allude to it or name their take on the products on their rates page.
A word of warning – with refinancing at the moment most lenders are playing 'we'll make it hard to leave and have the last laugh' so no matter what the lender (or broker if you use one) tells you, get in early, get the current up to date discharge form (or letter of instruction) form the lender (in this case GE) and either hand it to someone at the branch, and record details of name/date etc, and fax it if you can, and follow ti up in 10 days, and give a copy to the new lender of your choice. You may find it minimises a bit of strees for you.
All the best.Banks have been making it hard to leave for years. They lose discharge forms, don't return calls, are understaffed in the discharge areas etc. This is probably to punish those leaving and to get a bit of extra interest out of them too.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
When taking into consideration high LVR refi's most lenders will go up to 90%. 95% LVR's with caplitalised LMI are basically 97% lends. Bare in mind you'll need a genuine reason for cash out when talking LVR's over 90%. You'll need to provide an explanation as to what those funds are to be used for. Hi LVR loans have stricter Lending Policy's and end up more costly.
In my experience ANZ pre settlement and post settlement is far superior judging by the loan processing department and turn around time's at St George.
regards,
You must be logged in to reply to this topic. If you don't have an account, you can register here.
