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Lenders |
Entity |
Max LVR |
Mortgage Insurer |
Cash Out Policy |
Exit Fees |
Product Features |
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Self Employment |
Special Considerations |
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Full Doc |
Lo Doc |
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Average Processing Times |
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Company |
Unit |
Discret. |
Hybrid |
Refinance |
Purchase |
Refinance |
Purchase |
Genworth |
PMI/QBE |
Self |
WLMI |
Max $ |
Max % |
Year 1 |
Year 2 |
Year 3 |
LOC |
Offset |
Redraw |
Profess. |
Basic |
Construc. |
|
RAMS |
ü |
ü |
ü |
ü |
90% + LMI |
90% + LMI |
80% |
80% |
|
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|
ü |
Full Doc Above 85% -Max 20% of Market Value of the property (LMI Deals) |
Low Doc - No restriction under 80%LVR |
1% |
1% |
1% |
ü |
û |
ü |
ü |
ü |
ü |
3-4 days
|
Min 6 months as PAYG(different Industry) ; Off probation (same industry) |
Will consider special case scenarios lo doc @ 70% off balance sheet. Refer to BDM |
|
Westpac |
ü-Business Banking |
ü-Business Banking |
ü |
ü - Business Banking |
90% (new & exisitng clients |
92% (New Client); 97%(Existing clients |
82% (New & Existing clients) |
82% (New & Existing clients) |
|
|
ü |
|
Case by Case basis |
No Policy - Max for Inv-Upto 97%; Max for debt cons- 92% |
$900 |
$900 |
$900 |
ü |
ü |
ü |
ü |
ü |
ü |
5 days to conditional |
Min 12 months as PAYG |
No Company Borrowers and/or Securities on Lo Doc (Full Doc Only); No trusts on Lo Doc |
|
St George |
ü |
ü |
ü |
ü |
90% |
90% + LMI ( New Clients); 95% + LMI (Old Clients) |
80% + LMI (Old & New Clients) |
80% + LMI (Old & New Clients) |
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ü - SGIA |
|
$10,000 |
Case-to-Case basis |
$1,000 |
$1,000 |
$1,000 |
ü |
ü |
ü |
ü |
ü |
ü |
Gold - 2-3 working days to conditional ; Silver - 4-5 working days to conditional |
Min 12 months as PAYG(different Industry) ; Off probation (same industry) |
|
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Homeloans Ltd |
ü |
ü |
ü |
ü |
90% (Challenger) ; 85% (ING) |
90% |
60% |
80% (QBE - 20% genuine savings) |
ü |
ü |
|
|
Case by Case basis |
Case by Case basis |
Refer to Loan Zone |
Refer to Loan Zone |
Refer to Loan Zone |
ü |
ü - Only with Adelaide bank product |
ü |
ü |
û |
ü |
3-5 days to conditional approval |
Min 12 months as PAYG(different Industry) ; Off probation (same industry) |
|
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Homeside |
ü -- Not for Lo-Doc |
û |
ü |
û |
90% (Old & new clients) |
90% (Old & new clients) |
NO LOW DOC |
80% |
ü |
|
|
|
No Cash out on Low doc |
Case by Case basis |
$1,200 |
$1,200 |
$1,200 |
ü |
ü |
ü |
ü |
ü |
ü |
20 days to conditional
8 days to unconditional
|
Min 12 months as PAYG(different Industry) ; Off probation (same industry) |
Broker rating 4 - Full Doc - 95% - no cash out ; 90% with cash out (20% of the MV) |
|
ING |
ü |
ü |
ü |
û |
85% + LMI (new & Old clients) |
90% + LMI (new & Old clients) |
60% + LMI (new & Old clients) |
60% + LMI (new & Old clients) |
ü |
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Max 20% of Market Value of the property (LMI Deals) |
Max 20% of Market Value of the property (LMI Deals) |
$1,400 |
$1,050 |
$700 |
ü |
û |
ü |
ü |
ü |
ü |
3 days |
Min 12 months as PAYG |
|
|
CBA |
ü |
ü |
ü |
û |
90% + LMI (New & Old Clients) |
90% + LMI ( New Clients); 95% + LMI (Old Clients) |
80% + LMI (Old & New Clients) |
80% + LMI (Old & New Clients) |
ü |
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|
Above $50k needs a purpose to be explained |
Max 20% of Market Value of the property (LMI Deals) |
$1,050 |
$1,050 |
$1,050 |
ü |
ü |
ü |
ü |
ü |
ü |
5 days to conditional
5 days to unconditional
18days for cetifying the docs |
At Least Off probation if same industry ; 12 months if different industry |
|
|
ANZ |
ü -- Not for Lo-Doc |
ü -- Not for Lo-Doc |
ü -- Not for Lo-Doc |
ü -- Not for Lo-Doc |
90% (New & Old Clients ) |
90% (New & Old Clients ) |
60% (New & Old Client |
60% (New & Old Client |
|
|
ü |
|
No cash restrictions (with letter from accountant/ Evidence of Investment purposes) |
No cash restrictions (with letter from accountant/ Evidence of Investment purposes) |
$700 |
$700 |
$700 |
ü |
ü |
ü |
ü |
ü |
ü |
11 days for new files
6 business days for mail
|
Min 12 months as PAYG |
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Citibank |
ü |
ü |
ü |
ü |
90% (New & Old Clients ) |
90% (New & Old Clients ) |
80% + LMI (Old & New Clients) |
80% + LMI (Old & New Clients) |
ü |
|
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|
No Cash out for Low doc |
Case-to-Case basis (Full Doc) |
$1,500 |
$1,200 |
$1,000 |
ü |
ü |
ü |
ü |
ü |
û |
4-5 days |
case by Case basis |
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