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Home Loans
Posted:
Thu May 14, 2009 9:39 pmby aceman
Seems the big banks might be missing out on some Home loan money since they changed some of their criteria in SA. The SA Govt Home Start initiative is reaping in the loans because they'll lend up to 85% of the value of the property. The missus is up to her back teeth assessing loans where she works, $7 million this month so far's not a bad number from 30 loans with a mortgage broker considering they get a % trail per month for the duration of the loan.
Re: Home Loans
Posted:
Thu May 14, 2009 9:55 pmby Dutchy
Thats cause banks dont want that risk profile, you will find Home Start charge around 1% over the normal Bank rate which adequately covers the extra risk they are taking....
Re: Home Loans
Posted:
Mon May 25, 2009 2:38 pmby Sorry Dude
aceman wrote:Seems the big banks might be missing out on some Home loan money since they changed some of their criteria in SA. The SA Govt Home Start initiative is reaping in the loans because they'll lend up to 85% of the value of the property. The missus is up to her back teeth assessing loans where she works, $7 million this month so far's not a bad number from 30 loans with a mortgage broker considering they get a % trail per month for the duration of the loan.
she doesnt work at banksa does she? we just got our home and when we 1st put our offer in we were told it would be between 7-10 days for the paper work to go through and get an answer. we got it 7 weeks later. was not fun at all
but it all worked out well and get to move in this week
Re: Home Loans
Posted:
Mon May 25, 2009 8:14 pmby aceman
aceman wrote:Seems the big banks might be missing out on some Home loan money since they changed some of their criteria in SA. The SA Govt Home Start initiative is reaping in the loans because they'll lend up to 85% of the value of the property. The missus is up to her back teeth assessing loans where she works, $7 million this month so far's not a bad number from 30 loans with a mortgage broker considering they get a % trail per month for the duration of the loan.
They've just hit the $10 million mark for the month.
Re: Home Loans
Posted:
Mon May 25, 2009 9:48 pmby mighty_tiger_79
and its about to get a whole lot harder for home loans in the very near future
Re: Home Loans
Posted:
Mon May 25, 2009 11:45 pmby Jimmy_041
I use Mike Arnoul - Club Financial Services - Burnside, for all of my loans, and believe me, Ive got more debt than BHP.
He's sorted all sorts of loan/tax effective options for me. Ring him - 0438 220 054 - tell him Jimmy sent you.