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Macquarie PPOR loans?

Discussion in 'Property Finance' started by smallbuyer, 19th Nov, 2015.

  1. smallbuyer

    smallbuyer Well-Known Member

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    Hello,
    Does anyone know how Macquarie treats loans that are cross collateralized with PPOR and investment properties? I have heard some lenders (like 1stmac) treat all your lending as PPOR if you PPOR is with them.

    Cheers
     
  2. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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  3. D.T.

    D.T. Adelaide Property Manager Business Member

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  4. smallbuyer

    smallbuyer Well-Known Member

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    I agree crossing is bad, is an old loan from a long time ago. Also what about if you had 2 separate loans with macquarie? would they treat both as PPOR if you have your PPOR with them?

    cheers
     
  5. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    No, Macquarie won't treat your IP loan as a PPOR loan. They will be more open to negotiation on the IP loan because they hold both properties. You'll get a better deal on the IP loan than you normally would, but it won't be as good as the PPOR loan.
     
  6. Redom

    Redom Mortgage Broker Business Member

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    Macq are quietly discounting IP loans again, but they're offering isn't very competitive in that space.

    You may be able to negotiate a better deal with both securities on the table - the actual crossing won't really help you with a rate discount.

    Cheers,
    Redom
     
  7. smallbuyer

    smallbuyer Well-Known Member

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    Thanks for your comments. I wonder how Mac or others for that matter would treat you if you have 1 existing loan but it has 2 properties as security, one of which is your PPOR?
     
  8. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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