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LoDoc loan recommendations? (just got my ABN)mixedup [49 Posts]  Hi, Any recommendations on LoDoc loan products? Thanks Terryw [6308 Posts]  Low Doc loans have changed dramatically in the last few months. They are much more rare and the requirements have tlightened up. ING was one of the only ones that did not require an ABN, but their requirements changed yesterday and they now require a 2 year ABN as well as GST registration. There may be others still out there that do not require an ABN, but I cannot think of any atm. Maybe RAMS? Terryw   Qlds007 [3942 Posts]  Terry Rams from around 3 weeks ago require ABN & GST registration for 2 years plus. Cheers Yours in Finance hleung [103 Posts] I was told that CBA and St George don't require ABN and GST. That was a little while ago so contact a good broker who may be able to help you. Terryw [6308 Posts] I am pretty sure St G require an ABN, not sure about the GST Terryw Qlds007 [3942 Posts] Yes SGB require 2 year ABN & GST registration and CBA 1 year ABN & GST. Cheers Yours in Finance duckster [526 Posts]  check out www.pepperhomeloans.com.au Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser. mixedup [49 Posts] Qlds007 wrote: So what are the remaining options then guys? (i.e. assuming you already have your full-doc buffer/deposit loan against your PPOR and you don't want to have to use more than 20%-30% from this as deposit towards the IP loan you are chasing)?
Yes SGB require 2 year ABN & GST registration and CBA 1 year ABN & GST. If there's no options left does this mean the concept that you can borrow up to 80% LVR is now flawed because logistically you can't get the loans to do this? Qlds007 [3942 Posts] No you can get a 80% lodoc quiet easily however like everything you need to plan. All major lenders require ABN & GST registration. For a recent ABN you will merely end up paying more for the product. If you are PAYG then PAYG lodoc maybe more appropriate. Cheers Yours in Finance BMW330Ci [36 Posts] Richard - you mentioned PAYG lodoc, whats the max LVR for such finance? Qlds007 [3942 Posts] Hi BMW PAYG Lodoc is available at 80% lvr at a rate of 9.55%. Westpac now verify your ABN & GST and require this to 2 years + Cheers Yours in Finance Mortgage Excellence [1 Posts] Hello, There are a couple of mortgage managers who fund "1 day ABN" loans for self employed. Please contact me direct and we can discuss. Warm Regards, |
User loginBest SellerIn The NewsAussie Dollar Booming Aussie dollar above US $0.98 after greenback softens. NAB Raises Interest Rates Why wait until Friday? The NAB has increased its home loan rate by 15 basis points to 9.61% CBA Rate Up Last week St George, today CBA raises home loan interest rates (14 basis points). Beware Friday arvos! Today's TipYour deal's in trouble if the difference between making and losing money is <more> Active forum topicsresources for commercial properties? Author: ao Question for accountants Author: CHIS Who's OnlineTake The Test
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