does anyone know who currently offers the best rate low doc loan ?
ANZ was by far the best for us ’bout 6 months ago.
Just needed a letter from the accountant.
Hope this helps, doog.
Let me know if u need more info.
It may depend on how much you are after.
ANZ still offer low docs at normal rates for all products for up to 60% LVR, and allow package discountsof up to 0.70%, making the rate from 6.62%. For 80% LVR they only allow certain products, but the package is not available.
RAMS are currently offering 6.72% with no application fee if 70% LVR or at 80% if over $500,000.
St George offer up to a 0.70% discount on low docs if over $350,000, making it 6.62% on the standard variable product. up to 80% LVR
Terryw
Discover Home Loans
Parramatta
[email protected]
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Just send me a blank email, with “subscribe†in subject line.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
Hi P.P,
Forget about the cheapest rate; the cheapest rate isn’t necessarily the best product,
Concentrate on getting the best product that will match your current circumstances and not hinder your future investment plans, this will probably save you a lot more in the long term.Matching the correct lender to your individual requirements will depend on certain information, which includes the following but not limited to:
What LVR (loan to value ratio) do you require.
Loan amount required?
Loan term required? 1,2,3, or more years (if short term break costs need to be taken into consideration)
Loan purpose? Construction, subdivision, refinance, investment, owner occupied. Debt consolidation?
Do you have an ABN? If so for how long? (Some lenders require an ABN for 2 years, others do not)
Is the property residential, rural, commercial etc.
Post code? (Some lenders & mortgage insurers will not lend in certain post codes)
Is it in a Company or Trust name?Hope this helps, 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.
“Forget about the cheapest rate; the cheapest rate isn’t necessarily the best product”
I am always curious why people spend so much time trying to get a point off here or there when there are bigger issues to look at.
For example I would rather pay a much higher rate and get a higher LVR or a personal banker than always just trying to get the cheapest rate… In some ways you can get what you pay for.
hellman
I think both Steve and Terry’s points are relevant and comprehensive.
Remember for most Banking lenders you will be up for MI for loans over 60% and this cost needs to be added into the equasion.
This premium will vary between lenders.
Also if you intend to purchase multiple properties consider that you may easily use up your loan limit with the Mortgage Insurer and be forced to switch lenders anyway.
Explain to your broker what you want now and in the future so he can tailor a product to suit your changing needs.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
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