I need to get a decent size redraw for some deals that I want to put money into. I have recently been recommended the macquarie no-doc from a couple of brokers as I have great equity but terrible servicability.
Does anyone have any experience with the product? Besides the penalty’s if you pay the loan out early it seems a good deal if you cant get finance any other way.
Any opinions on the product would be greatly appreciated.
cheers
michelleI am in the process of refinancing with them on their low doc product. It offers a .25% discount after 12 months and a further .25% inanother 12 months. Good product good bank.
Nigel Kibel
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Hi Michelle,
For lending over $300K the Mac Bank saver express is an option, LMI covered at 80% LVR with step down rates over 3 years, However the Rams low doc variable product may possibly be a cheaper alternative.On the other hand a few of the Major lenders low doc products may be worth considering depending on the LVR you require, I don’t mean to ad confusion here its just impossible to suggest the correct lender/product etc without all the relevant info, 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.
To add to the comments below – if you have had an ABN for 12 months (or better still 2 years ) the products are extremely competitive now so definitely worth shopping around – there are a variety of lenders that also allow no ABN or ABN for 1 day.
Anita Marshall
Advanced Finance Solutions
http://www.advancedfinance.com.au
[email protected]Originally posted by kerrcorp:I need to get a decent size redraw for some deals that I want to put money into. I have recently been recommended the macquarie no-doc from a couple of brokers as I have great equity but terrible servicability.
what do you mean ‘terrible serviceability’ – this doesn’t really fill me to the brim with confidence, are you sure you want to borrow MORE?
cheers
brahms
Purveyor of Fine Finances
aka Mortgage Broker Brisbanemacquarie no-doc has other features as well doesnt it?
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