100% LVR

Discussion in 'Loans & Mortgage Brokers' started by DowntownBlock, 13th May, 2017.

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  1. DowntownBlock

    DowntownBlock Well-Known Member

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    Apart from BOQ specialist - is anyone aware of 100% owner occupied home loans available in Australia? Or what is the next best option for very low deposit and high income ~250K..?

    Thanks in advance!
     
  2. tobe

    tobe Well-Known Member

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    Guarantor, personal loan you hold for 3 months and then use as deposit. There aren't a great deal of options left I'm afraid. You are about 7 years too late.
     
  3. D.T.

    D.T. Specialist Property Manager Business Member

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    If have 250k income and no savings I think you need to resolve that issue first. Have you only started working recently? Or have you had a lot of expenditure recently?

    No judgement intended. I just think its a better idea to save for 6-12 months for a deposit than seek expensive or tricky solutions.
     
  4. DowntownBlock

    DowntownBlock Well-Known Member

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    ha indeed, even 10 yrs too late probably! Thanks for your response . . . all creative solutions welcome
     
  5. DowntownBlock

    DowntownBlock Well-Known Member

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    A lot of expenditure recently . . . Ok appreciate your advice. That's my Plan B
     
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    My understanding of these deals is they are based on a 90 or 95 % lend thence a PI personal loan for the balance

    ta

    rolf
     
  7. Kasi

    Kasi Active Member

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    Any reason for an immediate loan? With your income level, patience is virtue, with saving of course.
     
  8. Marg4000

    Marg4000 Well-Known Member

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    Some occupations receive more favourable conditions.
    Marg
     
  9. Tanya1335

    Tanya1335 Well-Known Member

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    Agree, save a deposit over a short period and go from there
     
  10. Simon Moore

    Simon Moore Residential & Commercial Mortgage Broker Business Member

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    Virgon Money will go to 99% including LMI. How small is your deposit?
     
  11. God_of_money

    God_of_money Well-Known Member

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    assuming your buying PPOR, Medfin NAB health will be able to do it 100%LVR
    Westpac can do it up to 95%LVR without LMI
    or BOQ specialist

    I dont think any broker here can get you such a deal... it is a niche market.. happy to be corrected!
     
    Trap1001 likes this.
  12. God_of_money

    God_of_money Well-Known Member

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    95%LVR I/O only with 5% PI personal loan rate repaid in 5 years
     
  13. DowntownBlock

    DowntownBlock Well-Known Member

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    Thanks - will investigate