Lenders Wanted

QLD, $400K, Owner occupied, Purchase, Full-doc, 90% LVR

Posted on 2/03/2014 8:29:03 PM

Client has a loan for the deposit but need to borrow 90% plus LMI against the property she is purchasing. She also has a existing debt in 3 names I need a lender who will only use her portion of the servicing.

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  • Judy West26/09/2014 11:27:07 AM

    St George will use common debt reducer with condition that they need evidence of income of other parties to the joint loan (payslip if PAYG).

  • Bob4/03/2014 12:41:37 PM

    Hi Qld, there is only one lender who will use her portion of an existing debt for servicing, ie only will use a third of the existing repayment. You may like to call AMP but check on their deposit fund requirements for LMI loans.

  • Rob3/03/2014 2:39:05 PM

    This is not a problem if the loan for the deposit is from genuine equity (a home loan) in her name or jointly with others. There are lenders who will take her portion for servicing in this case.

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OTHERS

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