Forums / Property Investing / Help Needed! / No Deposit investment product

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  • Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post 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.

    Cheers

    Yours in Finance

    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.

    Profile photo of IanIan
    Participant
    @kellian
    Join Date: 2018
    Post Count: 0

    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 :)

    Thanks

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post 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.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post 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.

    Cheers

    Yours in Finance

    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.

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