- Hi all,
Further to the recent changes in no doc policies, First Mac, the provider of the best 70% No Doc product have bumped up rates by 1% and added the requirement of 12 months ABN as well as asset and liability details. For all intensive purposes, this is no longer a true no doc product.
Kind Regards,
Cameron Perry
Perry Financial Strategies
[email protected]Hi Cameron
Yes i posted that on an earlier post.
So much for the fact that securised lenders rates will not go up any higher than the RBA increases.
Richard Taylor | Australia's leading private lender
Hi Richard,
Sorry I hadn't read your earlier post. It is a bit of a shame as the no doc was a really good product, but the rates are now getting a bit unworkable.
Kind Regards,
Cameron Perry
Director
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044
[email protected]It may be best to go to one of the big 4 banks for a No doc loan of this type now, at a more competitive rate……..rather than a 'securitised lender'……. I wonder what ANZ, the NAB, and Westpac charge for a 70 or 80 LVR 'no doc'………..
I am with you Cameron was a great product in the old days for what it was.
In addition they have withdrawn there "X" value product and Pro pack from the market entirely.
Had a breakfast siminar with Kim Cannon during the week and he still things they have a few exciting new products to be launched.
As for the Big banks offering such a product I can think of one that offers a better rate and product all round than Firstmac for clients with an ABN for 1 day or employed on probation for 1 day.
Richard Taylor | Australia's leading private lender
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