Lenders Wanted

NSW, $680K, Owner occupied, Refinance, Full-doc, 95% LVR

Posted on 12/08/2013 12:01:16 PM

Clients are 55yrs old & need to refinance their investment property to enable them to purchase new o/occ home. Clients have been living with their children for last few years but want to get back into the property market. Income is steady but casual, however, have been in same job for over 3 years.

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  • John S8/11/2013 3:20:07 PM

    As long as you could service the loan, then you should be fine. An exit strategy would need to be outlined and given to the bank.

  • Erin9/09/2013 2:14:32 PM

    What is their exit strategy??

  • Ken Dixon6/09/2013 2:26:35 PM

    Why not take both new and Inv P/y as security to avoid LMI as long as in Postcode area for lender.
    Under NCCP as long as there is a get out situation i.e. sell one of the properties
    to cover any debt ,then should be O/K even though have been employed on casual basis over past 3 yearsand loan services . Also probably have some super to fall back on.

  • Azzamoot20/08/2013 2:41:55 PM

    Would also suggest Macquarie to enquire.

  • Brado20/08/2013 1:40:16 PM

    whats the LVR? ANZ or Macquarie Bank may be options....

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