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Hi Newby. A lot of the posters on here have had similar discussions with their lenders about NRAS loans. They are often led to believe the loan will be no problem, only to learn that when it gets down to an application hitting the lenders credit department, the backpeddaling begins. The...

Respectfully Martyn - this is not a very well considered post. I'm not sure you have a comprehensive appreciation of how the scheme is designed to work. It seems you have not read the extensive posts already available on NRAS, on this forum? They will help you to better understand the scheme...

So thats Questus, Aspire, Affordable Management Corporation and Yarran, just to be clear... 90% with Westpac. Not surehow big the LMI premium will be, because its payable for anything above 70% LVR. For Brisbane Housing and Queensland Affordable Housing- which are both head lease models, not...

Thats great news for people wanting to get in with 10% deposit. I still dont think NRAS is well suited to investors who can only stump up 10% though, but thats just an opinion- and we all know opinions are like @holes- everyones got one :) But for thiose who need 90% and want to get in - get in...

No response? Hmmm... I guess the answer is probably no

Did this ever get answered? Will ANZ do it?

Quote: Originally Posted by Kesse View Post FWIW I contacted my banker at ANZ regarding borrowing for an NRAS property and she advised (after contacting the lending team) that "ANZ does not have a position on NRAS". After asking her to clarify further, as I was reading it both ways, she said...

Hi Winnie Im already a great fan of the NRAS- Ive posted extensively on it already, so I agree it can be very attractive to investors who it suits. Just saying that Mortgage House is not actually a lender of their own funds. Their loan book is made up of loans funded by lenders such as ING...

Mortgage House are a mortgage manager - their money comes from other banks and lenders. They may do 90% for conventional investment purchase, but as far as I know that doesnt include NRAS. You should probably double check just to be sure- and make sure they know its NRAS :)

Cool. Understand. You're right - its important people understand that there are several finance options available for NRAS now- depending on who the consortium is, of course. I think it generally boils down to this. If you want borrowing capacity , especially if you intend to buy another...

Paul? Can you clarify some of these questions please?

Ahhh..tempting Reeco but who would want to start up a property or mortgage broking business at the moment? reduced comms, problem vals, increased compliance costs... How about I just provide free NRAS advice to the readers of the forum, and keep my day job? :)

Thanks Paul So its a mortgage managed/white label product. Advantedge funded? Or Resimac? or Adelaide? Its not likely to be ING - they dont do NRAS, and its not Firstmac- their product isnt available to brokers or mortgage managers. I'll guess Advantedge, because of your reference to the...

sorry, one final question... what are the details of the lo doc NRAS option?

I also wanted to ask... which NRAS models is the 95% plus LMI available for, Paul?

Reeco- Kind words. Im blushing :) I am more than happy to share my knowledge for free...thats what these forums are meant to be about, no? Take it easy on Paul- its the weekend, and he may not have been checking the forum. Im sure he'll be happy to tell us all who is doing NRAS deals at 95...

Who is providing that loan, Paul?

I think I should start charging for NRAS advice hahahahah. Seriously though. This is where NRAS is basically at, as of this week. Round 4 applications for NRAS allocations have closed. They closed on December 14 of last year. Most those allocations havent been awarded yet, but its not far...

Questus are WA based, but own NRAS allocations in WA, NSW and Qld. You'll find that several of the Approved Participants have allocations across multiple states.

No, not the case Angel. Queensland Affordable Housing Consortium operates a Head lease agreement Brisbane Housing Group operates a Head lease agreement Aspire Housing operates a Non Entity Joint Venture Questus operates a Non Entity Joint Venture via a Managed Investment Scheme There are a few...