Margin Loans Margin Loan - Do Mortgage Brokers play in this space?

About to apply for a CBA margin loan. I downloaded the form from their website and half completed it. It is not hard and I can do it myself. However, there are a hundred questions that come to mind as I am going through the form around maximising my servicability. Eg. On joint property, should I include 50% of rent and commitments, or 100%. I have a debt which is a hybrid - half credit card, half personal loan (one of those very low interest deals for 2 years). It is not 100% clear how I should treat it. Should I treat that as a credit card in the application or personal loan. What is best from a servicability perspective?

Would benefit from an experienced broker looking over the completed form. And would like to get an opionion on servicability ahead of submitting the form. Would also benefit from having an experienced person looking over my documentation to make sure it is complete to avoid delay (I find things always run smoothly when documentation is neat and tidy and complete).

Can mortgage brokers assist with this? BTW, if commissions and trails are not on offer, happy to pay upfront for the right broker service.

 

No because this is a financial product so an AFSL is needed.

 

I guess I am on my own then?

 

Financial planner or ask a bank for help.

 

No rush at all. Happy to spend another couple of weeks to get the documentation right with the right person.

 

Yes

 

I think I'm reading this correctly. You want to take out a loan to buy shares? I would never do this. I went in knowing if I bought shares I could make a loss, and I did recently because I did not follow my own advice and wait. It's volatile at the moment. The share market can, and does, provide returns. It also makes huge losses. We just had the worst March since the GFC.

 

That being said, easy to do through NAB if you want and I imagine other banks. Though it requires quite a bit of documentation and they do tend to want minimal debt and savings.

 

"BoQ had 370 customers from Storm, who borrowed around $105 million against their homes. Macquarie had 1000 clients who borrowed an estimated $800 million in margin loans that were secured against shares. The biggest lender was Commonwealth Bank and its subsidiary Colonial Geared Investments, who had 2300 customers between them (borrowing against their homes and on margin); they have already admitted they were partly at fault."
In the eye of the storm

 

Yes we can - they’ll take the limit in most cases, so good to bear in mind if you’re carrying a large unused limit.