Best Variable Rate for HDT

[monoply]

Any recommendations of the best variable rate loan available for a HDT at the moment.

A freind of mine said he could get 6.7% (comparable) variable rate for a family trust with company trustee, but was not sure if they would do it for a HDT. This sounds like it is going to be about as good as I can get I think, if it is available for a HDT. (he has not told me which organization is offering this yet)

Im looking for a variable loan for about 350k using a HDT.
I want full redraw facitlity.
LVR would probably be 90%, but could be lower if it helped get a better deal.



Cheers
mono

[perky29]

Westpac 6.77% under the Professional Package is what I have.

[Rolf Schaefer]

You could get a rate of 6.65% variable, no monthly fees, $500 application fee.

[Rolf Latham]

Hiya

Westpac will go down to 6.52 with the right volumes BUT no chance of lmi with corp trustee Im afraid.

ta
rolf

[monoply]

Hi Rolf,

Thanks for the update. What is lmi?

Cheers

[Rolf Latham]

LMI = Lenders Mortgage Insurance, so youd be limited to 80 % LVR or less

ta

rolf

[monoply]

Thanks for that Rolf.

So your saying I can borrow at 6.52% with a HDT with a company trustee, if I have 20% deposit.

Sounds pretty good.

Are we still talking 6.52% being the comparative rate?

Cheers
mono

[Rolf Latham]

Hiya Mono

Comp rate legislation doesnt apply to investment props, nor to P/L loans.

Many lenders will charge (or try ) some stiff fees for reviewing trust deeds and docs, but if the deal is sizeable enough they will usually move.

ta

rolf