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Wayne  H

VIC 3931

Nov 01, 2017

Wayne  H

VIC 3931

Nov 01, 2017

Nov 01, 2017

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Steven

10 months ago

Hi Wayne, Refinancing does not require deposit. It is good to do health check on your mortgage from time to time. My suggestion is then to asked yourself a question. What is the benefit for me to refinance the existing mortgage.? There will always be small fee to pay to refinance the loan, such as government mortgage transfer fee, loan application fee and valuation fee. So you need to ensure that the benefit of transferring your mortgage is more than the cost of getting a new loan. Happy to duscuss this further. Steven

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Gayatri

10 months ago

Deposit is not necessary however enough equity in the property to be refinanced is required alongwith the ability to service the loan. Please contact me for detailed answer. Thanks and warm regards, Gayatri

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LEZLI

10 months ago

Hi Wayne, No need for deposit. You would have equity and depends on how much LVR you want to go up to. Have rates from 3.59% for OO. Look forward to hearing from you via my Profile page. Kind regards. Lezli

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Mark

10 months ago

Hi Wayne, In a refinancing situation, there is no need for a deposit. It is dependent on the amount of equity you have in the house (Loan to Valuation ratio) and also your loan serviceability based on your income. Happy to have a chat if you have any questions. Mark Yeo

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Girish

10 months ago

hi Wayne , Refinancing for better interest rates and potential cash out is a simple process , depends on the serviceability strength . do get in touch , for a quick assessment

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Mark

10 months ago

Hi Wayne, as per all previous responses no you do not need a deposit as long as you have sufficient equity in your home and you can service the debt via the lenders servicing calculators. To avoid paying Mortgage Insurance you require the loan to be under 80% of the properties value and a few lenders are also offering rebates to cover refinancing fees.

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Matt

10 months ago

Hi Wayne, as you've read you don't need a deposit in order to refinance. You will however need equity, and income to be able to service the loan. Generally anything over 80% loan to value ratio may be cost prohibitive for refinancing but there are exceptions to the rule. Contact me via my profile if you'd like my help.

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Kyle

10 months ago

Hi Wayne, I suggest we get a valuation on your property to see what it's worth to the banks. Once we have that we can work out how much you can borrow against that property and if that enough to pay out the loan that you currently have then you wont need to use any of your own money to refinance. I am happy to help you with this. Refinancing and talking no n*#$**&e is my speciality. I won't try to confuse you or impress you with LVRs %ages Criteria Depreciation in value or any other jargon. My job is to make this easy. Please contact me via view profile and we can start to save you some money.

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Nick

10 months ago

Hi Wayne, no you do not need a deposit as it will be dependant on Equity and ability to service.

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Melanie

10 months ago

Short answer - no. Provided there is sufficient equity in your property then you can refinance up to generally a maximum of 90% of the value of the property. Happy to discuss your requirements further - we have some extremely competitive options available at the moment. Please feel free to contact me via my Hashching profile. Kind Regards, Melanie.

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Danny

10 months ago

Hi Wayne, it will depend on your situation. If your property has depreciated in value from when you first purchased it, you may require a deposit to reduce your LVR before considering to refinance.

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Ben

10 months ago

Hi Wayne, No you do not require a deposit to refinance. You do however have to have an LVR (Loan value ratio) below 80%. eg. your current mortgage can’t be more than 80% of your homes value. Contact me through hashching on my profile and I will be more than happy to discuss your situation. I am based in Mornington to. Thanks Ben Gardner

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Brent

10 months ago

Hi Wayne, not not usually. it'll all depend on the equity have in the house. in 99% of cases you'll be ok. Feel free to contact my if you'd like to see a few options Regards, Brent

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David

10 months ago

Hi Wayne, No you do not need to come up with a deposit. The refinance is dependent on 2 main criteria: 1) Your Loan to Value of your property (maximum loan of 90% of the property value) 2) Your ability to service the debt Cheers, Dave

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