Comments on: Changing Lending Practices; Low Docs & No Docs http://investmentmentor.com.au/news-commentary/general/changing-lending-practices-low-docs-no-docs/ Thu, 09 Feb 2012 05:29:32 +0000 hourly 1 http://wordpress.org/?v= By: Frank http://investmentmentor.com.au/news-commentary/general/changing-lending-practices-low-docs-no-docs/comment-page-1/#comment-717 Frank Tue, 09 Dec 2008 22:14:20 +0000 http://investmentmentor.com.au/?p=877#comment-717 Thanks for a great article Craig. I am looking to refinance one of my investment properties and looking for a low doc lender that will accept the loan amount is 72% of the properties value. Can you help? Thanks for a great article Craig. I am looking to refinance one of my investment properties and looking for a low doc lender that will accept the loan amount is 72% of the properties value. Can you help?

]]> By: Nick Lockhart http://investmentmentor.com.au/news-commentary/general/changing-lending-practices-low-docs-no-docs/comment-page-1/#comment-696 Nick Lockhart Fri, 05 Dec 2008 09:58:29 +0000 http://investmentmentor.com.au/?p=877#comment-696 Hi Sarah, The horror stories you refer to are not our experience at all. Sure there is always the potential to have valuation issues but $100K sounds over the top - and some! So long as you buy well this should not be an issue. To better understand how the whole valuation process works, please see my recent article on this very topic: http://investmentmentor.com.au/2008/11/28/valuations-will-somebody-please-explain/ Thanks for taking the time to comment. Kind regards, Nick Hi Sarah,

The horror stories you refer to are not our experience at all. Sure there is always the potential to have valuation issues but $100K sounds over the top – and some! So long as you buy well this should not be an issue. To better understand how the whole valuation process works, please see my recent article on this very topic:
http://investmentmentor.com.au/2008/11/28/valuations-will-somebody-please-explain/

Thanks for taking the time to comment.

Kind regards,
Nick

]]> By: Craig Bergin http://investmentmentor.com.au/news-commentary/general/changing-lending-practices-low-docs-no-docs/comment-page-1/#comment-690 Craig Bergin Fri, 05 Dec 2008 02:30:04 +0000 http://investmentmentor.com.au/?p=877#comment-690 Hi Sarah. Sorry for the delay in replying - I have only just been made aware of your comment. 100% loans are pretty much a thing of the past, however there are still a number of banks that will give you a loan of 95% of the valuation plus add the mortgage insurance cost on top of this, taking overall loan amount usually to a maximum 97% LVR. Please feel free to contact me via mrd if you would like further information. Hi Sarah. Sorry for the delay in replying – I have only just been made aware of your comment. 100% loans are pretty much a thing of the past, however there are still a number of banks that will give you a loan of 95% of the valuation plus add the mortgage insurance cost on top of this, taking overall loan amount usually to a maximum 97% LVR. Please feel free to contact me via mrd if you would like further information.

]]> By: sarah K http://investmentmentor.com.au/news-commentary/general/changing-lending-practices-low-docs-no-docs/comment-page-1/#comment-668 sarah K Sun, 30 Nov 2008 06:22:11 +0000 http://investmentmentor.com.au/?p=877#comment-668 Hi, Craig. Thanks for the very informative article. Do you have any advice on which lender will allow the least cash outlay during settlement? I've heard horror stories of recent mortgage valuations at Gold Coast coming in at >$100K below purchase price. Add the LTV factor in, and a property purchase seems to be significantly out-of-reach. Thanks! Hi, Craig. Thanks for the very informative article.
Do you have any advice on which lender will allow the least cash outlay during settlement?
I’ve heard horror stories of recent mortgage valuations at Gold Coast coming in at >$100K below purchase price. Add the LTV factor in, and a property purchase seems to be significantly out-of-reach. Thanks!

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