Lenders Wanted

QLD, $380K, Owner occupied, Purchase, Full-doc, 95% LVR

Posted on 5/09/2013 1:18:47 PM

Recently emigrated to australia in august 2012. Couple have 3 children MA is Hydrographic surveyor works on a self employed/ contracting basis earnt $72k last year in Australia. Previous while working overseas he has earnt $150k per annum FA occupational therapist at Qld health since may.$72k pa.
They have approximately $50k they can source from overseas accounts.

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  • Samuel Chacko13/09/2013 2:21:38 PM

    Suggest ING as they have a product to 95%lvr plus lmi capitalised. genuine savings for 6 months.

  • Marion Kilsby6/09/2013 3:57:33 PM

    Where do the couple bank now? It is possible they qualify for a 95% LVR and we lodge the application with their current financial institution. Many institutions offer exceptionally good lending packages with 95% LVR's for existing clients. We will need to evidence the $50k over a period of 6 months in their overseas accounts which would automatically qualify as genuine savings. $50k will still qualify if funds are equity proceeds from sale of their real estate.

    Assuming the male applicant has an ABN as self employed with recent EOFY financials evidencing the income and his partner is not subject to a probationary period, this application should prove easy to place. There will be surplus funds available to offset against the loan, cover any renovations required, etc.

    FHOG application to be completed and funds to be added to surplus available.

  • melo6/09/2013 2:09:00 PM

    Assuming they qualify for FOGH quite few lenders do at 90%.Suggest Bankwest as dont require genuine savings at 90%.Still contribute $50K to reduce LVr to lowest LVR and use fogh for fees.


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