LENDING UPDATE – 24.05.18

MELBOURNE MORTGAGE FINANCE LENDING UPDATE – 24.05.18

PRODUCT OF THE MONTH

  • loan to 95% of property value….ideal for First Home Buyers purchasing established property
  • deposit requirements : 5% cash deposit, government charges and lender’s mortgage insurance (LMI) premium
  • variable 3.64% interest rate
  • $100 set up fee, nil valuation fee, nil monthly fee, nil annual fee
  • Family Pledge (parental guarantee) option available and eliminates expensive LMI premium

FAMILY PLEDGE (parental guarantee) LOAN

  • available to First Home Buyers and investors for new purchases
  • customers can borrow 100% of purchase price plus costs if income is satisfactory
  • substantial LMI premiums can be saved (e.g. premium on a 95% $570,000 loan is approximately $25,000)
  • buyers can enter the market years earlier and buy at today’s prices
  • parental guarantee can be terminated as soon as the loan reduces to 80% of new property value

LOANS FOR SPECIALISTS : UP TO 90% OF PROPERTY VALUE WITH NO LMI

  • Medical : GPs, medical specialists, dentists, optometrists, pharmacists, vets
  • Accounting : accountants, auditors, actuaries, CFOs
  • Legal : lawyers, solicitors, barristers, judges,
  • Mining : surveyors, mine surveyors, quantity surveyors, geologists
  • current practicing certificates required and must be acceptable to lender
  • substantial LMI premiums can be saved (e.g. premium on a 90% $540,000 loan is approximately $15,000)

REVERSE MORTGAGE LOANS FOR SENIORS

  • seniors who are no longer working can borrow funds for any worthwhile purpose
    • normal reverse mortgage loans for home repairs, travel, clearing debts, car purchase etc
    • aged care reverse mortgage loans for payment of accommodation bond to access aged care facilities
  • borrowers must be 60 years of age and own a suitable property as security for the loan
  • property can be primary residence, investment property or holiday home
  • available loan amount depends on property value and age of applicant

CHANGED CREDIT REPORTING REGULATIONS

  • from July 1 , Australia’s major banks are required to introduce comprehensive credit reporting
  • positive credit behaviour as well as negative credit behaviour will now be reported to Credit Reporting agencies
  • account opening dates, credit limits and up to 24 months of repayment behaviour will be supplied
  • customers of these banks should make repayments on time to avoid negative reporting and lower credit scores

 

Contact Melbourne Mortgage Finance on 0437 417 042 for further loan details

Barry LeBrocq

Melbourne Mortgage Finance
Patterson Lakes, VIC 3197
Mob 0437417042
Web www.melbournemortgagefinance.com.au

Disclaimer: The above information is intended as general information only and does not address specific personal situations. Loan products, interest rates and fees change frequently without notice. Please call Melbourne Mortgage Finance to verify details and discuss your specific needs and loan eligibility.

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