Hi again.
Wondering how much of the equity from one place will they let you use as a deposit and costs on another ?
And will they do a lo doc using equity ?Cheers
You can get 100% investment loans, so you may not need much equity – just enough to cover costs and Stamp Duty.
But it is a good diea to have between 5-20% plus another 5% costs.
A good strategy is to get access to the equity as another split loan and then to use this as deposit on a new proeprty, and keep the loans separate, avoiding cross collateralisation.
Terryw
Discover Home Loans
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Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
105% is available for an investment property loan however the interest rate is slightly higher.
Lodoc is certainly available for both PAYG and Self employed but would usually be used as a last option. Where possible try and always go with a fully verified loan until you can no longer satisfy the lenders requirements.
Then either dependant on your cirumstances a nodoc or lodoc loan is always available.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
Thanks very much for that info .
Just deciding if l should keep what cash l’ve got left handy instead for the main thing happening later in yr just incase .
A very tempting buy has popped up in the meantime.Cheers
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