ANZ and Hybrid Trusts
- Thread starter Terryw
- Start date
Hiya
Li
Likley as a result of my spray last week : )
I have a bunch of HDT business in with them over the last 10 years............occassionally, clients want to draw further equuity from their HDT properties AND make use of the HUGE lmi premiums they have already paid.
Tough bickies Rolf, no new money, MOVE your client we dont give a hoot unless you give us a Product Ruling..........
I had to remind them that a HDT is not a Tree Plantation and a Product Ruling isnt available, would a generalised PBR do for the structure in Q,
My case, we have a PBR on an MGS deed, issued to Chris Batten which we have put in front of the ANZ people.
Will keep u posted .
t
arolf
Li
Likley as a result of my spray last week : )
I have a bunch of HDT business in with them over the last 10 years............occassionally, clients want to draw further equuity from their HDT properties AND make use of the HUGE lmi premiums they have already paid.
Tough bickies Rolf, no new money, MOVE your client we dont give a hoot unless you give us a Product Ruling..........
I had to remind them that a HDT is not a Tree Plantation and a Product Ruling isnt available, would a generalised PBR do for the structure in Q,
My case, we have a PBR on an MGS deed, issued to Chris Batten which we have put in front of the ANZ people.
Will keep u posted .
t
arolf
Good news.
I was actually advised by ANZ last week that they will do Hybrid trusts. I don't believe it though (I suspect I know more about it than my BDM).
There's still a few other lenders who are okay with HDTs though, thank goodness!
There's still a few other lenders who are okay with HDTs though, thank goodness!
They do...............just give them a Ti Tree or Blu Gum product ruling and you will probably be fine : )
ta
rolf
The PIT has a product ruling, Chris Batten may or may not be working on a Product Ruling for the MGS deeds now, I'm not too sure about this, you could just ring him and find out though...
I needed a "commercial benefits" of the HDT letter from an accountant before I got my WBC and NAB loans. With the letter I had no problems getting it through.
I don't borrow with LMI any more so not sure of the issues with this.
I needed a "commercial benefits" of the HDT letter from an accountant before I got my WBC and NAB loans. With the letter I had no problems getting it through.
I don't borrow with LMI any more so not sure of the issues with this.
MGS deed has a PBR
ta
rolf
ta
rolf
Well if they accept a PBR pertaining to an unrelated person that would of course be good...
Not sure if that will be enough, but keep us posted...
Anyone know what lvr anz will go to for htds?
I'm at 90 with amp and stg
I'm at 90 with amp and stg
ur post says 90 , so I will go with that , hope u have a PBR though.
Stg will go to 95 IF the normal non hdt criteria are met, usually, though I dont think that will be a whole lot longer with the chew out of WBC of STG.
ta
rolf
StGeorge would go to 95 for me, even as a casual employee. I kept it at 90 with LMI capitalised tho because I wanted to keep the loan under 300k which seems to be the sweet spot for LMI premiums.
I dropped in to my local ANZ today and asked them about this recent change in lending policy, she had to do some digging and got back to me by email
I dropped in to my local ANZ today and asked them about this recent change in lending policy, she had to do some digging and got back to me by email
Will probably be digging around to find what a trust is I imagine!
We give you money and trust that you will repay us? if not we sell your house.
If someone has to go digging to understand what a hybrid trust is, you don't want them to be organising finance for you on this type of structure. They almost certainly will stuff it up which will cost you money.
