Westpac no LMI 85% LVR for PPOR's

Discussion in 'Loans & Mortgage Brokers' started by Shahin_Afarin, 3rd Jul, 2015.

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  1. tobe

    tobe Well-Known Member

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    Maybe it's time to run your numbers with a broker, or consider becoming one! ANZ pro package has a mandatory credit card of at least $6k, which will reduce capacity somewhat. At the moment they use negative gearing but that may soon change. They are also about to change their sensitised rate to 7.25, a la apra.
     
    tobe, 8th Jul, 2015
    #61
  2. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Existing and new.

    I cant see a lot of "policing" going on as the banks are playing along with APRA until they go away, kinda like a bad smell.
     
    Colin Rice, 9th Jul, 2015
    #62
  3. kr11

    kr11 Well-Known Member

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    Thanks tobe
    No intentions on being a broker
    Just wanted a better understanding
    Thanks for all ur awesome replies anyway
     
    kr11, 9th Jul, 2015
    #63
  4. Redom

    Redom Mortgage Broker Business Plus Member

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    kr11 - with questions like that, you'd be a more knowledgeable broker than many!!

    Some very in depth knowledge. :)

    Cheers,
    Redom
     
    Redom, 9th Jul, 2015
    #64
  5. Hwangers

    Hwangers Well-Known Member

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    hahaha it would depend on which credit manager/assessor lap your deals land in! maybe CBA has more easy going credit managers :)
     
    Hwangers, 9th Jul, 2015
    #65
  6. SaberX

    SaberX Well-Known Member

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    Just wondering if there are any lenders that would match the westpac offer going forward - any chance for a loan settling in october or onwards?

    How would these lenders usually deal with loans that were slated to settle upon title issue in say August (for westpac) but end up being delayed 2 months? DO they say tough luck, you have to come up with the difference to make 80% LVR?
     
    SaberX, 16th Jul, 2015
    #66
  7. 2FAST4U

    2FAST4U Well-Known Member

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    2FAST4U, 21st Jul, 2015
    #67
  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    No need to use their basic product.

    You will get a large discount off the standard variable rate by just asking. I just got someone 1.33% off = 4.15% on a small owner occ property loan of $440k
     
    Terry_w, 21st Jul, 2015
    #68
  9. SaberX

    SaberX Well-Known Member

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    Terry - how long does that discount last for? First two years as per the link posted by 2FAST4U?

    Was this for a basic variable rate option, or did you get the bells and whistles - offset account etc?
     
    SaberX, 21st Jul, 2015
    #69
  10. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    30 years! Its the Rocket product so all bells and whistles.
     
    Terry_w, 21st Jul, 2015
    #70
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