Discussion in 'Finance & Banking' started by coopranos, 12th Apr, 2007.
Can anyone here recommend a good broker who deals with Margin Loans on shares/managed funds?
Don't know that there is such a thing.
Just do a search here and then choose one. They are pretty similar and there is not too many out there.
I use Leveraged Equities myself and am pretty happy.
You don't need a broker to find a margin loan - there aren't that many to choose from. If anything, it's financial advisors who choose margin lenders for many people (and often get a trail for doing so).
InfoChoice is a good place to start:
INFOCHOICE | Investment | Margin Lending
It's also worth checking their LVR lookup to find what each lender will offer on the funds you hold (or are planning on holding).
INFOCHOICE | Investment | Margin Lending | Compare
I've been with Leveraged Equities for several years, and am very happy with their service now ... I recently moved some of my funds to St. George to get a better LVR on a couple of my funds, but I've decided to move them back to LevEq.
My wife and I both use NAB margin lending. They have a pretty competative % rate (particularliy cheap if you pre pay 12 months of interest) and a pretty comprehensive list of approved investments. (they recently increased the LVRs on over 200 of their direct share approved investments which helped!)
They have a 5% buffer on direct and a 10% buffer on Managed Funds.
St George has a more comprehensive approved investment list but a more expensive % rate. St George has 10% buffer for both direct and managed funds.
Many Financial Planners will rebate back a percentage of the interest rate which makes it more competitive.
SGB we normally offer a 0.25% rebate.
I use CommSec. Decent rate, especially for small players like myself, and they just increased their lend on most of Platinums funds to 75%, which is great for me. Hmm, I wonder if it has anything to do with the float they are broking.
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