Mortgage brokers: I'm looking for a loan


You wont unfortunately get 100% these days but may still get 95% depending on a few factors.

Most lenders want to see some form of genuine savings over the last couple of months as well as job stability and clear credit history.

Processing times for the 95% lend can only be described as shocking but then i guess they now they are the only left offering such a product.

Soon everyone will be done to 90% max lvr.
I live in brisbane, looking for a 95 - 100% loan.

I qualify for the FHOG and need to move quick.:cool:

Best ring Richard 1st thing in the morning then for a chat as it would appear he's local. This may save a day or 2 as he could collect the documents required. He'll be able to advise you if your in a position to proceed (no good stressing over something that isn't possible). If you are in fact in a position, get Richard to get an application in fast. I mean FAST. As he mentioned, there aren't 2 many about doing 95% and I suspect there will be none shortly unless you have existing lending with them. Their processing times are terrible at present due to volumes so you need to ensure all documentation is provided at time of application and be aware that any finance clause will most likely need to be extended. Solicitors and agents should be aware of this as it's getting more frequent. On the other hand I wouldn't be mentioning it to the agent at time of offer.

agents and sol's would know about longer finance and settlement timeframes by now anyway. We tell people 3 weeks for finance and 42-60 days to settle.

It almost seems to be the norm to some extent - with banks taking 8 working days to assess intially, then 4 days to get the valuation done. add weekends in on top...