90%+ NO Docs?

[slingshot]

Searched and couldn't find the answer I needed.

Are there still any 90%+ no docs products at all?

If so what IR and probably more importantly break costs? Short termish...6 months

Just stumbled on a deal which I think may be good as trading stock

Thanks
Slingshot

 

[Qlds007]

Save you further searching - NO.

 

[slingshot]

LOL....Thanks Richard.

Consider this post closed but thats the answer I needed.

Thanks
Slingshot (still l'ing o l)

Never hurts to ask

 

[Bradsdad]

I concur. It ain't going to happen.

 

[Kristine..]

Hi slingshot

Thanks for the enquiry - I have sent off a couple of emails to various lenders on my panel - at least one is advertising 90%LVR Low Doc (no BAS or Trading Statements) at sort of about the Standard Variable Rate with a couple up to 85% LVR at slightly higher rates.

One of the beauties of this Forum is that people ask questions!

One of the responses can be no, don't even think about it

But, lending changes all the time and just because something was or wasn't on the Menu last week, doesn't mean that the Tuesday Special will be the same this week

So thanks for asking the question. The product description looks to be very reasonable, I will certainly be interested in finding out more about this product and will keep you posted.

Cheers
Kristine

 

[paramount]

I want to buy some NZ investment property.

Borrow the deposit against equity in Aus to 80% and presumably borrow 70-80% in NZ

Does anyone know some people to recommend?

 

[Qlds007]

Sorry didnt realise we were talking Lodoc i thought the question was "are there any Nodoc lenders out there doing 90% lvr".

Yes 90% is available but the interest rate is a little high and the establishment costs likewise.

 

[slingshot]

Thank you all for your replies once again. I will endeavour to crunch some numbers tomorrow and hopefully they may stack up.

Setup and especially deferred interest costs will no doubt be nasty so I will let you know once I have done a bit more analysis on the deal.

Thanks
Slingshot

 

[Bradsdad]

Sorry didnt realise we were talking Lodoc i thought the question was "are there any Nodoc lenders out there doing 90% lvr".

Yes 90% is available but the interest rate is a little high and the establishment costs likewise.

Couldn't have said it better but I guess i'm not marketng carrots