Want to invest in country town Qld that has 4600 pop 4 major industries and 4% unemployment cant find lender for 90-95% loan Help
You should be able to get 95% LVR in most areas of Australia (up to $150,000) with the mortgage insurer PMI. check to see if the location is listed on this:
http://www.pmigroup.com.au/locationwizard.asp?attractor=4If the suburb is not listed there or if the loan is higher than $150,000 it will be very hard.
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
Is it also possible that the bank/LMI provider see the town as too great a risk to their money and that is whay they won’t lend to 95%?
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Indigo100
12 months ago we were able to get an ANZ Money Saver Investment Loan..[was 6.47% then..], it was 97% LVR, I think the LMI was rolled into the loan [the Mortgage Brokers would know that for certain], and the loan was for $71,000..an investment house. Birchip, Victoria. Population 1000 people, 1,000,000 rabbits.
Red.Hi Indigo,
Have you tried a Mortgage Broker? As Derek mentioned the problem may be LMI related, I will need further information, post code, loan amount etc, you can call or email me if you prefer not to disclose the post code on the forum, Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
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