Hello
Im in the market to purchase a first home in Sydney (More than likely a unit). Ive been self employed for over 3 years but would like a lo doc loan that is slightly higher than the current 80 lvr. Ive heard there are 85% lo doc loans but not sure how available they are.
Really would like to know as that would save my wife and I a heck of cash upfront.
Cheers
Bernard
Yes they are but you will really pay for it with regards to interest rate.
80% is a lot more favourable.
Richard Taylor | Australia's leading private lender
Thanks Richard.
Would you be able to do the loan? What rate are we talking about and would I be able to refinance to a lower rate in a year or so?
Cheers
Bernard
Bernard
At the moment probably around 11.5%
Regretfully at the moment there are limit lenders who will refinance lodoc so you need to be prepared to be in for the long hall. Lodoc 80 is a different matter.
Richard Taylor | Australia's leading private lender
You could try State Custodians. They are a non bank lender and don't deal with brokers. http://www.statecustodians.com.au
I think they may be much cheaper. Better Mortgage Management are another.
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