Sorry if this has already being posted but i remember a few months back that there were no homeloans that allowed you to borrow more than 90% of the value of the property. Just wondering with the slowly recovering economy if the banks were starting to raise them again?
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
Tony
Actually going the other way if anything.
Although in saying that subject to everything 95% for investors is still around.
Richard Taylor | Australia's leading private lender
Very tough to get approval for it though!
Tend to disagree for the right client.
Currently in the UK on holiday and already had 2 approved this week alone.
Richard Taylor | Australia's leading private lender
Yes for customers that are in an excellent financial position it is no problem however many of the people that need 95% just don't meet the guidelines. Here in Sydney as well any properties in the Western Suburbs at 95% have to have customers that can walk on water! Genworth in particular is really conservative with the West due to a high level of claims in the last two years.
Ok point noted. Cant remember doing a loan in the West of Sydney.
Richard Taylor | Australia's leading private lender
Hi,
If you don't mind me asking
Who are the 95% loans through, one of the Big four? We trying to get our next project going without tying up all our cash in a 10% deposit….. trying to get a residential loan on a 3 unit development is hard work!
Thanks
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeYes you are correct trying to obtain residential finance on a 3 unit development is hard work but like anything at the right LVR and with other information can be achieved.
Richard Taylor | Australia's leading private lender
Thanks, At least I know I can keep pushing to see what I can get. Is it definitely commercial finance for a four unit dev? I'd really love to do a 4 unit site but I don't know if the pain (finance) will be worth it!
Thanks for your comments
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeYes 4 + definately Commercial Devt funding.
Richard Taylor | Australia's leading private lender
Thanks Richard!
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeMembers Equity is offering 95%.
So are about another 5 lenders some have easier Credit policies than others.
Also LMI varies between lenders so certainly check on this before submitting the deal.
Richard Taylor | Australia's leading private lender
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