Hey guys l’ve just joined & this is fairly urgent
so any help appreciated . either here or you can PM me at ” [email protected] ”
We need a fair /cheap solicitor to handel the sale
of our house please [ we bought it through a wrap loan ] so he needs to know about wrap sales by the customer not the wrapper . We are on the STH Coast NSW .
Secondly – lf it didn’t sell for awhile we’d like to refinance it – rent it out and move on , l am self employed .
Can anyone suggest advice or fair companys that refinance these for the customers please.
We owe $76 1sh – now valued at $140-160ish .
Thanks guys .
MarkHi Mark
Maybe if you tell us what town you are in, someone could reccomend a solicitor for you. In my limited experience, the conveyancing cost doesn’t seem to vary too much between firms.
With regard to finance, you might be best off contacting a mortgage broker directly with all the details. There are a few of them on this site. There are many financial institutions that cater for the self employed.
Hi
As far as I know the two main mortgage insurers do not treat wrap refinances as being refinances, so they will only lend on the contract price, not value. Therefore you will probably need at least 20% equity to refinance. Your figures seem to indicate about 50% LVR so you should be right, even for a low doc with a major bank like ANZ.
Most solicitors should be able to hep you. It is just a pruchase really.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]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
Thanks Terry,that’s about how l thought it would be . Unfortunately the plan was to rent it out after refinance but as you might have read in another post since,now l’ve found a new property we want which would need more funds than planned [but worth it ] so- looks like it’s going on the market now instead of the refinance rent it out plan. Not to worry if we manage to get this new place it’ll all be worth it. Love it .
catch you.Originally posted by mkc:Originally posted by Terryw:Hi
As far as I know the two main mortgage insurers do not treat wrap refinances as being refinances, so they will only lend on the contract price, not value. Therefore you will probably need at least 20% equity to refinance. Your figures seem to indicate about 50% LVR so you should be right, even for a low doc with a major bank like ANZ.
Most solicitors should be able to hep you. It is just a pruchase really.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]PS . thanks oshen
l’m just near Merimbula -far sth coast NSW , if anyone happens to know of a solicitor handy knows wraps/sales and purchase and is fair in price.
Mark.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
