no document loans

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From: Rod Myers


Anyone know about "no doc (document) loans?
 
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Reply: 1
From: Frank Shead


Rod Myers,

I Know a little.
Frank Shead
02 9412 2326
 
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Reply: 1.1
From: Michael G


Frank,

Can you tell us about them then?

Much appreciated.

Michael G
 
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Sim

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Reply: 1.2
From: Sim' Hampel


*sigh* there he goes again.

Why don't you share the knowledge with all of us Frank. This is a place where we all come to learn, not where we all come to merely drum up business for ourselves.

I have no problems with you getting new business out of your contacts here on the forum, but only if you share your "wealth" of knowledge with everyone in the process.

 
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From: Debra Walker


No doc loans are loans where you do not need to verify income. They still ask for details and some evidence on existing investments and outgoings, etc but you do not have to provide evidence of income or tax returns.

The problem with no document loans is there is very few financiers apparently who will lend a no doc loan on the valuation.

Debbie
 
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Reply: 2.1
From: J Parker


Rod,

You also end up paying a higher rate of interest as the banks forsee that they are taking on a greater risk with you.
Good luck with it all.
Cheers, Jacque :)
 
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Reply: 1.2.1
From: Frank Shead


I am attempting to do what you want. I always thought this is the way you state this Conference was run.
I'm slow. Please excuse.
Frank Shead
 
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Sim

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Reply: 1.2.1.1
From: Sim' Hampel


Frank, it is not my intention to drive you away... all I am saying is that you obviously have a great deal of knowledge, and sharing it with everyone would benefit us all.

Try examining what Rolf's approach has been. When someone asks a question about finance, he often replies with useful information which we can all benefit from.

His approach is not "here is my number call me"... it is "here is some information that you all may find useful, in addition you really should get some advice from an independant mortgage broker"

Possibly the same net result - the person ends up calling for more information, but at least we have all been given something useful in the process.

Yes, it takes time to write the posts. But once we all see how knowledgable and helpful you are and how willing you are to contribute to the community, we are more likely to be willing to use your services. We can't see this unless you show us what you know !

Keep on posting !

 
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Reply: 2.1.1
From: Rolf Latham


Hi JP

Not as bad as the rates used to be though with a spread of around 6.3 to 7.2 %
Ta

Rolf
 
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Reply: 3
From: Michael G


Hi all,

Frank gave me the following attachments and agreed to have this posted to the forum for all to see.

I hope this swag of info helps, for further info please call Frank at Liberty direct.

Regards
Michael G
 
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No doc

Reply: 4
From: Brett Burt


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RAMS has one., but you must be under 70% loan to value ratio and have no =defaults on credit record. All you do is self certify that you can pay =the loan. I think few others have them. The interest rate is under 6%. =Bluestone has them for credit impaired at 8.49% same deal as above. =Brett

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RAMS has one., but you must be under 70% loan to =value ratio
and have no defaults on credit record. All you do is self certify that =you can
pay the loan. I think few others have them. The interest rate is under =6%.
Bluestone has them for credit impaired at 8.49% same deal as above.
Brett

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