LENDING UPDATE – 02.05.13

MELBOURNE MORTGAGE FINANCE LENDING UPDATE – 02.05.13

PAYMENT OF INTEREST IN ADVANCE ON INVESTMENT LOANS

Prior to June 30, most lenders allow investors to pay 12 months interest in advance on their fixed rate investment property loan. Benefits include:

  • certainty with budgeting
  • interest rate discount
  • tax advantage of claiming next year’s interest in the current financial year
  • independent taxation advice should be received from your accountant

USE YOUR SUPERANNUATION FUNDS AS A DEPOSIT FOR A PROPERTY PURCHASE

Borrowers can now purchase residential property using their superannuation funds.
Main features:

  • borrow up to 95% of valuation (80% from a mainstream lender and 15% using your own super funds)
  • 5% deposit and costs can come from any source….your super is regarded as a genuine savings contribution
  • no expensive mortgage insurance premium is payable…a saving of approximately $10,000
  • owner occupied or investment property
  • established property or construction
  • first home buyers or investors
  • no need to set up specific Self Managed Super Fund (SMSF) structures to buy property using your super
  • your super fund must be an eligible fund acceptable to the lender and independent financial advice is required

“EASY DOC” LOANS TO PURCHASE COMMERCIAL PROPERTY

Commercial property loans are available where ability to service the loan is based solely on the strength of the lease agreement and does not require tax returns, BAS statements, trading statements or Accountant’s letter.

  • up to 65% of valuation
  • up to 25 year term which reduces monthly repayments
  • no annual reviews
  • purchase or refinance
  • lease agreement, security property and application details must be acceptable to the lender

ACCOMMODATION BOND LOANS FOR AGED CARE

Families often need to arrange funds for an elderly parent to gain access to an aged care facility without selling the family home. Specifically tailored accommodation bond loans are available as follows:

  • up to 50% of property valuation depending on location
  • up to $400,000 depending on the value of the residential property
  • minimum age 70
  • security property must be the borrower’s principal place of residence or an acceptable investment property
  • the property can be retained by the family and can be rented out to help pay interest charges on the loan
  • security arrangements must be acceptable to the lender and independent financial advice should be obtained

Contact Melbourne Mortgage Finance for further details and to discuss your specific needs and lender eligibility requirements.

Barry LeBrocq
Melbourne Mortgage Finance
Mob 0437417042

What our customers say about us

Thanks for all your help and for making it so easy for me. Life will be so different now.

Jan Vincent
Montrose, VICTORIA

Thank you for your time on the phone yesterday and copying me into the below email.
I just wanted to take the time to say that I have never seen such a comprehensive email provided to clients by a Broker before. Very clear and detailed.
I hope it’s ok that I hold onto your details to refer to clients who may need assistance.
Kind Regards,

Shannon Oatley
Director & Licensed Conveyancer
Property Conveyancing Group, VICTORIA

We have found Barry Le Brocq of Melbourne Mortgage Finance to be very patient, caring and diligent in achieving a successful outcome to our refinancing requirement. We have no hesitation in recommending his services to others.

Don & Christine Perrett
Leongatha, VICTORIA

Many thanks Barry for the exceptional service that you have provided. We will most certainly be recommending you to our daughter (Bank of Melbourne branch manager) for any future customers who need a reverse mortgage loan.

Paul & Barb Spark
Somerville VICTORIA

 

LENDING UPDATE 14.06.19

  • LIVING EXPENSES ARE NOW A KEY ISSUE
  • COMPREHENSIVE CREDIT REPORTING NOW IN EFFECT
  • INVESTMENT LOANS AT OWNER-OCCUPIER INTEREST RATES
  • REVERSE MORTGAGE LOANS FOR SENIORS OVER 60
READ MORE

Melbourne Mortgage Finance offers an extensive range of mortgage products and services including

Home Loans, Investment Loans, Equity Access Loans, Low Doc Loans, 100% Loans, Refinance Loans, Commercial Loans, Deposit Bonds, Reverse Mortgages, Accommodation Bonds, Vehicle Finance, Plant and Equipment Finance, Financial Planning and Business Finance.

IMMEDIATE appointment can be made to meet at your home or office

  • NO CHARGE for assisting you. We receive a standard fee from the lender you select
  • reliable service, communication and follow-up. See “Testimonials
  • accreditation with 20 national lenders, allowing you to select from an excellent range of loans
  • we carefully listen to your needs, do our research, then present you with a short-list of three potential loan solutions. You choose the lender.
  • printouts of products, fees, interest rate and loan features are provided
  • arrange for your property insurance and personal insurance requirements to be assessed
  • ongoing availability to assist you after loan settlement
  • over 30 years experience in arranging finance and mortgage loans