Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,010
Just thought I would get some feedback from fellow forum members about the demand for a new limited deposit product we are looking at launching.
Over the years we have helped hundreds of investor clients build their property portfolios but one of the biggest hurdles for many has always been the fact of accessing equity to come up with new deposits for each property purchase.
In many cases our clients have had good income but either the higher servicing rates of lenders or the lack of equity / cost of LMI has stopped them in their tracks.
We are now looking at lauching a new 100% loan style product as part of BA service or a 90% No LMI product for buyers in a SMSF.
Anyone care to comment on whether wuch a product would help them get into the investment market or help them increase the portfolio either individual or inside their SMSF.
Yours in Finance
IanParticipant@kellianJoin Date: 2018Post Count: 0
- This topic was modified 5 days, 19 hours ago by Richard Taylor.
I would be interested to know more about your product.
I am early in my property investing journey so have no preconceived ideas of what is best/right so am prepared to look at all options.
My only concerns are that every thing is legally above board in the eyes of the ATO.
As always the devil is in the detail :)
ThanksTerrywParticipant@terrywJoin Date: 2001Post Count: 16,173
I think many would be interested. It is not just the cost of LMI that stops people, but the LMI company rejecting the loan for a variety of reasons.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,010
Terry you are correct as we all now that the slightest hiccup means LMI delcine the deal as they dont need an excuse
We have been piloting both the SMSF product & No deposit for investors for the last 3 months and certainly picking up momentum.
Yours in Finance
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