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CLEAN CREDIT NON-CONFORMING LOAN


This loan is designed for those clients who do not meet traditional LMI requirements. Generally a reasonable credit history is required and can assist borrowers with unusual deposit sources, unusual income, instability or employment or residence.


Applicant type

Individuals, Companies, Trusts.

Employment requirements

If Self-employed, no minimum period Judged case by case.  P.A.Y.G is also o.k.      

Income: required proofs

If self-employed less than 12 months, then  case by case.

Loan amounts minimum & maximum

$30k to $2 mil

Purpose

Owner-Occupied, or Investment

LVR

95%
If P.A.Y.G for min 3 months then 100% LVR

Coded, non-coded, or either

Either

Credit related issues

Mortgage arrears, if current, can be one month. If past, can be 2 months. Any paid default must be older than 3 months

Variable, fixed or both

Variable only

P&I, I/O, or both

Both 

Residency Status

Citizens and permanent residents

Comments, special conditions

Can be for: Self-employed, No financials, No age limits, Non-genuine savings  

Approximate  rate

Call us for the best rate

 

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Friday, 3 September 2010