OTP IP in blacklisted Brisbane suburb

Discussion in 'Loans & Mortgage Brokers' started by propertywatcher, 20th Oct, 2019.

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  1. propertywatcher

    propertywatcher Member

    Joined:
    14th Oct, 2019
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    9
    Location:
    L.A.
    For someone who's purchased IP in high-density OTP in a blacklisted Brisbane suburb (middle-ring) in 2017 for $525K and due to complete in December, what can be expected for
    - max LVR?
    - I/O rate (if any) and for how long?
    - P&I rate?

    Thanks,
     
  2. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
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    10,256
    Location:
    Australia
    Valuation?
     
  3. propertywatcher

    propertywatcher Member

    Joined:
    14th Oct, 2019
    Posts:
    9
    Location:
    L.A.
    3 bed 2 bath 2 car. Due to complete in December. Similar properties selling $500K or under. Expecting at least a 5% haircut.
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,598
    Location:
    Gold Coast (Australia Wide)
    Use a lender that doesnt have that burb/property on their restricted lending list.

    best to have a chat with a broker i expect.

    ta
    rolf
     
    Lindsay_W likes this.