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LEZLI

8 months ago

Hi Stuart, All depends on your income - all looks good - we have access to over 40 lenders. We have rates from 3.39% variable for owner occupied. Please feel free to contact me via my Profile Page. Look forward to hearing from you and helping you. Lezli

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Frank

8 months ago

Hi Stuart, That looks fine from an equity perspective. I assume you're looking to avoid Lenders Mortgage Insurance and can certainly do that by using some equity in the existing property. I see you mention having around $200k equity in existing property, but the real question is how much available equity there is not counting the first 20%. As long as that's at least $80k that should limit the cash deposit to around $100k. Of course we still need to address the question of affordability. Please get in touch if you'd like to work through the numbers. I'm in Hobart (also 7053) and available to visit you at any time that suits. Regards Frank

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Allan

8 months ago

Stuart subject to income this should be fine. give me a call and we can have a chat. my office is at Liverpool st Hobart, so alternatively you could make an appointment and we can get together.

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Catherine

8 months ago

Hi Stuart, I would love to have a chat with you in regards to your possible options. Please contact me via my Hashching profile. I'm located in the Blue Mountains, NSW but can certainly look after your loan requirements. A phone chat is the easiest way and I can update you with your options via email within a few business hours. I have been in the mortgage broking industry for 15yrs, so have a great wealth of knowledge. I look forward to hearing from you. :)

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Jonathon

8 months ago

Hi Stuart, This looks achievable. A popular loan structure would be to use the amount of cash you feel comfortable with as your deposit, then borrow a small amount of funds over your unencumbered property. usually enough to make up your 20% deposit + costs (stamp duty, legal fees etc). Then we set up a separate loan over the $750K home and ensure you are borrowing below 80% of the value. This way you avoid paying Lenders Mortgage Insurance and will qualify for many competitive loan products with good interest rates. Let me know if you would like to chat more in regards. We are based in Rosny Park at One Stone Finance

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