Anyone using AMI for wrap loans?

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From: Anonymous


Is their anyone out there that has used AMI for wrap loans. I understand they specialize in this type of finance.
Have your experiences been good or bad?
 
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Reply: 1
From: Anonymous


From my own past experience I would stay well away from them.

They are pretty good at making promises
on what they can do for wrappers, but in reality they dont deliver.

And watch out for them, if you want to wrap in large regional areas. In most cases they will not fund more than 70% LVR !!!

And even more important they refuse to put in writing that they know you are borrowing funds to wrap.
Regards
John
 
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Reply: 1.1
From: Rolf Latham


Hi John

The low LVRs are always a challenge in a lot of regional areas, especially with mortgage managers,and securitised lenders.

Even pretty major banks pike out in some areas at 70 % LVR- overly conservative

Just have to be careful and see what you can get.
Ta

Rolf
 
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