Perpetual Funding Group

Hi platinum888

Looked at the website. No mortgage payments for 10 years!!! New loan. Lovin the SOUND of that. Ha ha I for one will be checking it out to find out the catch;)

Do you have any more info on them or that particular loan??

Sunshine
 
Attended a Bill Zheng seminar in Sydney yesterday and Bill Zheng did touch about similar products being available in the market shortly. Maybe, they're
available sooner than he reckoned !

Cheers.
 
After looking further at their website (Australian company but have Chinese writing??) it would see that the loan with no repayments for 10 years may just be a capatilised LOC perhaps.

It would be very interesting to find out though.

Sunshine
 
Cherry Pro said:
Attended a Bill Zheng seminar in Sydney yesterday and Bill Zheng did touch about similar products being available in the market shortly. Maybe, they're
available sooner than he reckoned !

Cheers.
Click to expand...

Hi cherry pro

Don't want to hijack this thread, BUT, I was meant to go to the Brissy seminar today and couldn't:mad: Was the seminar good?Was a discount available for his mentoring?? Any info would be MUCH appreciated.

Also with the similar products - how do they work??

Sunshine
 
If it sounds too good to be true, it probably is.

10 years without payments? Assuming a 7% IO loan, and you borrow 80% to start with, by the end of 10 years you'll have a 150% LVR. What lender in their right mind would do this? If they are more like reverse mortgages, the LVR will be so low it wouldn't be of any use to you as investors.
Alex
 
Hi Alexlee

Yep I would agree it does sound too good to be true. I would still be interested in finding out exactly how it works though.

At the end of the 10 years, 150%lvr - but that is only on the original loan, maybe this takes into account that property MAY double in 10 years????

Dunno, but definately intrigued by its workings.

Sunshine
 
Hi All,

Our weekend edition of the West Australian newspaper has been running ad's for this firm for the last few weeks, so I gave them a call to see if they could help out with my circumstances.

The product is a low doc loan that does not seem to require any income details. The max lvr seems to be 70%. You can use lvr lower than this to either take out as cash or to allow the capitalisation of interest

If this product had been available 3 years ago, I would not have sold 2 properties due to casflow issues and would have been very close to not requiring an outside income to live...would have been really nice @ 35 years of age...

This gets me back to the point I have made to various people...the only bad stories that I hear about long term property ownership are from people that have sold too early!

Glenn
 
I will stand corrected but i believe this is same product i have through Macquarie bank but is actualy financed by Perpetual ltd. No Doc LOC that lets you capitalise interest upto limit for 10 years then interest only due.
I have seen ads and just presumed Perpetual are also now selling the same product through one of their divisions.
If not someone very cheeky using Perpetual name to decieve.
 
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