It is amazing how many times a week I receive emails from clients either First Home Buyers or Investors who are looking for a 100% loan yet do not have funds to cover the heafty mortgage insurance premiums.
Well this afternoon 1 lender has decided to cover the LMI premiums for both owner occupiers or investors and now is offering the first true 100% loan.
Product details for those interested are as follows:
Min Loan $50K – Max Loan – $1Million
Available to individuals, Trusts and Pty Ltd Company's
Applic Fee – $102.50
Valuation Fee – $220.00
Settlement Fee – $120.00
Legal Fees – $350.00No monthly or annual fees
100% offset available. Other purchase costs can be borrowed or gifted
If anyone needs further details be happy to provide.
Richard Taylor | Australia's leading private lender
HI Qlds 007
I have just joined this site. I am looking to buy an investment property with a partner and require a 100 percent loan. The property is in Adelaide. Can you assist and please send me some details asap.
Thanks in advance.
You should call him direct. I am sure you will be pleased.
Are 100% mortgages popular in Austrailia & New Zealand?
Just curious…..
James
Shoot me an email and I would be happy to provide details.
As i have already been asked the interest rate at 8.95% is particular attractive in saying that for an investor the interest is deductible so lessens the pain somewhat. Just appeals more than paying out nearly 4% in LMI premium.
Richard Taylor | Australia's leading private lender
Sorry that last post should have read "isnt particularly attractive" ……………
Richard Taylor | Australia's leading private lender
I believe St. George offer a similar finance package – No Deposit 'Quick Start' with a 0.32% loading on the Standard Variable.
Hi Richard
Can you please provide me with more info – i presume it is available to purchases outside of Qld?
Thanks!
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