Non genuine savings lenders

Discussion in 'Loans & Mortgage Brokers' started by Martinez22, 9th Mar, 2018.

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  1. Martinez22

    Martinez22 Well-Known Member

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    Do any brokers know of any lenders who do non genuine savings?

    Besides, Liberty & ME
     
    Martinez22, 9th Mar, 2018
    #1
    Colin Rice likes this.
  2. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Most will in some form or another. Tell us more about the deal, LVR etc?
     
    Colin Rice, 9th Mar, 2018
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  3. Martinez22

    Martinez22 Well-Known Member

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    Yeh woops forgot to clarify

    Lend up to 95% inclusive of LMI (owner occupied) 5% deposit is being gifted
    Currently renting privately, not very good savers
     
    Martinez22, 9th Mar, 2018
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  4. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    St George and ME Bank will look at it at that LVR.
     
    Colin Rice, 9th Mar, 2018
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  5. Martinez22

    Martinez22 Well-Known Member

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    I'll try give St George a call, ME wont even touch it because they are renting privately through land lord -_-

    Thanks again Colin !
     
    Martinez22, 9th Mar, 2018
    #5
  6. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    St George need it to go via an REA as well unfortunately.
     
    Colin Rice, 9th Mar, 2018
    #6
  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    How much is your rent and how much will the repayments be ?

    Ta

    Rolf
     
    Rolf Latham, 9th Mar, 2018
    #7
  8. Martinez22

    Martinez22 Well-Known Member

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    Are there any that will do it they rent privately?
     
    Martinez22, 9th Mar, 2018
    #8
  9. Redom

    Redom Mortgage Broker Business Plus Member

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    Homeloans will have a solution (likely pepper funded)...but it won't be pretty.
     
    Redom, 9th Mar, 2018
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  10. Martinez22

    Martinez22 Well-Known Member

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    Not pretty as in high rates?
     
    Martinez22, 10th Mar, 2018
    #10
  11. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Agree with Redom

    Homeloans via their accelerate product might be an option

    Servicing will need to be reasonable strong at that LVR

    Cheers

    Jamie
     
    Jamie Moore, 11th Mar, 2018
    #11