Loan documents review under a Trust structure

Um Has not been my experience, not yet.. It takes time dealing with online lenders (add an additional week of having to upload docos to dealing with normal banks where you can walk in and voila!) and without a broker certainly some effort to learn (which I like to do anyway) but I've only found expensive banks and their rates continue to go further up and be costly! The way I see it it's a short term inconvenience for a long term benefit. I have also typically found these guys to be flexible and they genuinely listen to your issues in the past two years i have dealt with them. So Let's see how this pans out but I've told them that most banks don't ask for this and all lawyers won't do this. So They might just have to take that option out No word advising of any issues with the documents that I submitted online without the finance advice form as yet from them, so fingers crossed!

Btw, got my conveyancer/solicitor firm to give me a lawyer to sign off the certificate of legal advice without having to pay extra, which is what I gathered from the PC forum how they should have gone about it anyway!? im choosing to take your advice and let the firm deal with the conflict of interest bit.

 

Guess what guys, i made a case to them and they waived the Certificate of Independent financial advice!

Thank you so very much for your help in understanding this!! @Terry_w @RPI @Peter_Tersteeg @Corey Batt

 

hi @Gypsyblood what IR did you get from loans?

 

PPOR is at 3.71, IP in trust is going to be 3.64

 

thats very good. few questions:

1. Is that for PayG or Low-Doc?
2. Why is your PPOR higher than IP?
3. How is your experience with loans so far since you have been with them for quite sometime now.

 

Hey reply to points below
1. PAYG
2. PPOR loans went up in the time I was going through the process of settling with the bank but they'd already handed me an approval for 3.64 (my original owner occupier rate) for the IP by then so I negotiated that to remain. Please do note it's 20% and P&I for my IP too!
3. I like their rates, features and fees and they are pretty prompt, but you have to remain on top of communication during settling. Also expect delays during settling so account for extra 2-3 weeks as it's all online when you give the dates in a sales contract (I put a 60 day settlement for the IP, the PPOR was 45 days) oh and the website to check your loan info is very basic.