...to still borrow 100% or higher of purchase price?
I have great servicability but not enough cash/equity for another purchase and after some searching on the net haven't really been able to find any lenders who will lend more than 95%.
Scenario is this:
Purchased house in April 09 - CF+
it is somehow crossed with a unit I purchased a few years ago also CF+ both with ANZ so I didn't have to pay mortgage insurance when borrowing more than 80%. $10,000 available in an interest offset account.
Two negative geared properties with ME not crossed which may have some potential for another refinance although the last was done in December. I have around $20,000 equity available for redraw in this account.
I'm looking at purchasing a slightly negative or neutrally geared property (Darwin) for up to $500,000 ish. I have around $3000 available each month for servicing the loan and extra costs of the property, and while I could just save up for a few more months I'd like to explore all options (I want my marshmallow NOW) .
Does anyone know of a relatively mainstream bank/building society that lends 100% or more without using another property as security? I would be looking at using a mortgage broker for the purchase but first wanted to find out if it was possible before wasting anyone's time.
Thanks in anticipation.
I have great servicability but not enough cash/equity for another purchase and after some searching on the net haven't really been able to find any lenders who will lend more than 95%.
Scenario is this:
Purchased house in April 09 - CF+
it is somehow crossed with a unit I purchased a few years ago also CF+ both with ANZ so I didn't have to pay mortgage insurance when borrowing more than 80%. $10,000 available in an interest offset account.
Two negative geared properties with ME not crossed which may have some potential for another refinance although the last was done in December. I have around $20,000 equity available for redraw in this account.
I'm looking at purchasing a slightly negative or neutrally geared property (Darwin) for up to $500,000 ish. I have around $3000 available each month for servicing the loan and extra costs of the property, and while I could just save up for a few more months I'd like to explore all options (I want my marshmallow NOW) .
Does anyone know of a relatively mainstream bank/building society that lends 100% or more without using another property as security? I would be looking at using a mortgage broker for the purchase but first wanted to find out if it was possible before wasting anyone's time.
Thanks in anticipation.