We are hoping to do a deal next week to buy, reno and sell (6 months max) and are having trouble getting the finance we need. We have organised a money partner for the cost of the reno and we have enough cash for a 10% deposit and closing costs. Now the catch. We want to borrow 90% and I am a sole trader therefore the broker we have spoken to can only get us 80% on a low doc with some higher interest and fees. My partner is a temporary resident (provisional residents visa) and will apply to become permanent as soon as she can. She has a perminent position on a salary but her temporary visa seems to be a problem here. They would offer90% based on her salary alone but because of the visa situation they only will lend 80%.
Please help out if you can as we’re running out of time.[glum2]Winzer,
Check out carrington national finance. They do a Low Doc 95%. Ask your broker about how they might help you.
Tell us how you go.
Joshua McEwen
Finance Consultant – WAMob:0430 452 497
http://www.prestigeloans.com.auBrokers Lic 1297
Licensee Brett ChristieOther managers offer the Mobius product with a cheaper rate than Carrington.
You will require 2 years S/E and be registered for GST with Mobius and there are heafty entry and exit costs.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
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