All Topics / Finance / best lenders for investment properties?

Viewing 13 posts - 1 through 13 (of 13 total)
  • CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    who are the best lenders for investment properties at the moment?
    and what’s the max LVR for investment property they will do?

    thanks for your sharing :)

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Charlie

    It’s impossible to answer.

    The game is changing quickly.

    Best you can do at the moment is start with a good foundation lender – probably a big 4 lender that doesn’t have overly rigid policies. Then move onto a more generous lender (in terms of their borrowing capacity calc) such as lenders within the Nab group and then save the non regulated lenders/mortgage managers to the end when you’re getting close to hitting a borrowing capacity wall. This is a very general statement though – and may not suit your needs at all.

    In terms of max LVRs – 90% is still possible. Releasing equity at 90% however is becoming more difficult.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    thanks Jamie,

    the loans are currently with cba, so would it be faster to go thru cba again?

    and which lenders would do 90 lvr?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Ask me again tomorrow Charlie and the answer will be different.

    I actually did a complete review of 27 different lenders 2 weeks ago in regards to investment lvr’s, interest rates post increase, policy changes etc etc.

    I then ranked them in regards to a couple of areas to help keep up.

    I looked at the list again last night and it had changed already.

    90% inclusive of LMI is doable and in exceptional circumstances 95% less LMI is available for the super clean deals (although personally would not recommend it).

    No ADI lenders don’t fall under APRA so haven’t all changed their policies but over 80% might as well have.

    As always it boils down to the requirements of the borrower and the overall plan of attack in regards to what the client wants to achieve.

    Cheers

    Yours in Finance
    0-40 properties in a decade. Email me for a copy of my API interview.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    thanks Richard,
    clients want to get the maximum equity out, currently about $330k equity in these two properties. they looking to use whatever equity they can out to build more properties or businesses.

    reading, re-reading, re-reading, etc…and still hard to figure out which is the best lenders.

    clients has two other properties and want to do the same as these two, so just trying to see how these first two go.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    clients want to get the maximum equity out, currently about $330k equity in these two properties. they looking to use whatever equity they can out to build more properties or businesses.

    Wait – what. Are you the mortgage broker asking on behalf of clients?

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Poor clients – having a ‘broker’ with nfi asking questions on a forum.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Charlie work on 80% of the market valuation less the current mortgage and that should be the amount they can access.

    Course you being a Broker should be able to make the recommendation to them as to the most appropriate lender as of course we don’t have all the facts in regards to their requirements.

    Cheers

    Yours in Finance
    0-40 properties in a decade. Email me for a copy of my API interview.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    wow, a taboo topic to ask advices on this forum?
    thought this is the site with some of the best brokers, or maybe not?

    Profile photo of Options AustraliaOptions Australia
    Participant
    @rodbuyingoptionsaustralia-com-au
    Join Date: 2015
    Post Count: 3

    Hi Team,

    For refinance of investment properties to extract equity you can go to 90% including LMI.
    For purchases you can go to 90% including LMI.

    Best rates for 80 % is 4.12% with liberty.
    Rgerds

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    wow, a taboo topic to ask advices on this forum?thought this is the site with some of the best brokers, or maybe not?

    More that brokers who have years of experience and dedicate time for themselves and their staff get annoyed that there are fly-by-nighters who give advice to client’s based on what they read on a forum instead of doing in-depth research.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    wow, a taboo topic to ask advices on this forum?thought this is the site with some of the best brokers, or maybe not?

    More that brokers who have years of experience and dedicate time for themselves and their staff get annoyed that there are fly-by-nighters who give advice to client’s based on what they read on a forum instead of doing in-depth research.

    this is month 2 for me,
    yes, I should know all the products of the lenders by now? :)

    thank you for your advises, much appreciated

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    Hi Team,
    For refinance of investment properties to extract equity you can go to 90% including LMI.For purchases you can go to 90% including LMI.
    Best rates for 80 % is 4.12% with liberty.Rgerds

    thanks :)

Viewing 13 posts - 1 through 13 (of 13 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.