Looking for a Lo Doc Loan at 90% LVR.
- Thread starter jsh1
- Start date
Hi jsh1
Bluestone 90% Low doc has a rate of 9.09% p.a. in the 1st year, 10.09% p.a. for the next 2 years and after 3 years the rate reverts to their standard rate of 7.54% p.a., assuming your history for the previous 12 months is fine. The thing you have to be careful about though is their high early repayment penalties. 4% of original loan amount in first 2 years, 3% in year 3, 1% in year 4 and nothing after that.
Cheers
Patrick
Bluestone 90% Low doc has a rate of 9.09% p.a. in the 1st year, 10.09% p.a. for the next 2 years and after 3 years the rate reverts to their standard rate of 7.54% p.a., assuming your history for the previous 12 months is fine. The thing you have to be careful about though is their high early repayment penalties. 4% of original loan amount in first 2 years, 3% in year 3, 1% in year 4 and nothing after that.
Cheers
Patrick
Hi Jsh1,
Pioneer offer a 95% Low Doc, approx. rate 8.99% reduces after 3 years
$500,000 Owner Occupied & $1.0m Investment
DEF’s 1 year (2.5%), 2-3 years (2.0%), 3-5 years (1.5%)
Redraw available, split facility up to 4 accounts, also available for companies and trusts,
15 to 30 year term, P& I or Interest Only up to 5 years, no monthly or annual fees, I hope this helps, cheers.
Regards
Steven
Mortgage Broker
Pioneer offer a 95% Low Doc, approx. rate 8.99% reduces after 3 years
$500,000 Owner Occupied & $1.0m Investment
DEF’s 1 year (2.5%), 2-3 years (2.0%), 3-5 years (1.5%)
Redraw available, split facility up to 4 accounts, also available for companies and trusts,
15 to 30 year term, P& I or Interest Only up to 5 years, no monthly or annual fees, I hope this helps, cheers.
Regards
Steven
Mortgage Broker
jsh1 said:
Why not try our Qld based favourite broker Rolf Latham? I'm sure he'll be able to help you out with enquiries.
www.asapfinancial.com.au
Lodoc Finance
Stevens recommendation of Pioneer is as good as it gets.
Tonto out of Brisbane offer a similar product and their processing i find a lot better than Pioneer.
Cheers
Richard
[email protected]
www.yourstatefinance.com
Stevens recommendation of Pioneer is as good as it gets.
Tonto out of Brisbane offer a similar product and their processing i find a lot better than Pioneer.
Cheers
Richard
[email protected]
www.yourstatefinance.com
Hi Steven,
in an earlier post you said
"DEF’s 1 year (2.5%), 2-3 years (2.0%), 3-5 years (1.5%)"
Are you referring to early exit fees or Deferred Establishment Fees? If the latter then its 11.49% pa first yr, 10.99% 2-3 years then ?% 3-5 years depending on what rate the loan reduces to. Can you advise of the rate the loan reduces to after year 3?
I'm also considering a lo-doc high LVR loan (though 90% LVR should do it).
Thanks
Ajax
in an earlier post you said
"DEF’s 1 year (2.5%), 2-3 years (2.0%), 3-5 years (1.5%)"
Are you referring to early exit fees or Deferred Establishment Fees? If the latter then its 11.49% pa first yr, 10.99% 2-3 years then ?% 3-5 years depending on what rate the loan reduces to. Can you advise of the rate the loan reduces to after year 3?
I'm also considering a lo-doc high LVR loan (though 90% LVR should do it).
Thanks
Ajax
Hi Steven,
According to their website: http://www.pioneermortgages.com.au/products_comparison_lodoc.aspx , their max seems to be 80% LVR, even with LMI. May I ask where you got 95% from, that sounds pretty good
Cheers
According to their website: http://www.pioneermortgages.com.au/products_comparison_lodoc.aspx , their max seems to be 80% LVR, even with LMI. May I ask where you got 95% from, that sounds pretty good
Cheers
Hi Dave,
It’s a relatively new product; I can only assume this is why the info is not currently available on their web site, I’m aware of the details because I’m accredited with Pioneer.
Some further product information:
Cash out up to $125.000 of security property without reason.
The LMI is through Mobius.
Minimum redraw $2K
Application fee: $900 includes legals & valuation.
I hope this helps, Cheers.
Regards
Steven
Mortgage Broker
It’s a relatively new product; I can only assume this is why the info is not currently available on their web site, I’m aware of the details because I’m accredited with Pioneer.
Some further product information:
Cash out up to $125.000 of security property without reason.
The LMI is through Mobius.
Minimum redraw $2K
Application fee: $900 includes legals & valuation.
I hope this helps, Cheers.
Regards
Steven
Mortgage Broker
Dave,
some more parameters on this deal:
starting interest rate is 8.99% reverting to 7.99% after 2 years.
Mortgage insurance premium is a whopping 3.5% which can (of course) not be capitalised.
The actual lender is Mobius and the mortgage insurer (I think) is called TMIK.
I am in the process of doing a loan for one of my clients as we speak.
Have a great day in sunny Perth
some more parameters on this deal:
starting interest rate is 8.99% reverting to 7.99% after 2 years.
Mortgage insurance premium is a whopping 3.5% which can (of course) not be capitalised.
The actual lender is Mobius and the mortgage insurer (I think) is called TMIK.
I am in the process of doing a loan for one of my clients as we speak.
Have a great day in sunny Perth
