Managed Funds Who is your margin lender?

I am looking at other investment opportunities like commercial property etc. This can happen anytime, I m not sure when but I like to get ready.
The plan is to get a property and borrow from my bank. It's the easiest and cheapest way I would think.
But in case my bank doesn't lend me the money or only willing to lend less than the amount needed my other option would margin lending.
I have never done margin lending and prefer not to (old school way of thinking maybe).
Can you share with me who your margin lender is?
What is the current IR you are paying?
In general how long will it takes to get one setup and ready to use?

One other important thing, if say I transfer 500K of share to a margin lender and I want to borrow 300K and the shares has LVR of 70%.
Can I take the 300K out to pay for a property that I bought?
I want to use it as a borrowing facility for other purpose and use the shares as colleteral.

 

I use comsec, and pay 9.25 however I'm going to be calling them soon to negoiate a lower rate as my borrowings have grown over the years.

If you transfer 500k shares and withdraw 300k, you would have a LVR of 40%. if you withdraw 500k, that would be 50% LVR. You can withdraw cash from your margin loan to buy IP, but I would only withdraw enough to satisfy the deposit required as you want the rest of the equity for other things.. like a buffer etc.

 

Banksa paying 8.9% capitalised, still got one 0.25% drop to go if/when I get enough of a loan. I do get a 0.25% discount on their standard rate for being a SGB shareholder either that or they like me......

I was looking to put my commercial loan on my margin account as it would be less hassel and probably cheaper rate too.

 

ANZ and a better rate than either posted thus far by quite a few basis points. But I know of others here on better rates than me...

Cheers,
Michael.

 

I use leverage Equities at 8.8%.

 

I use comsec cos my investments is in their managed fund list.

9.25%pa variable loan
8.95% fixed loan

 

Suncorp: 7.85% pa in advance.

 

gee that is cheap!

 

likewise..

 

Hiya

ANZ for me....but I am only a babe in the woods compared to most of the players who frequest this site....

Pedro

 

Suncorp 7.85% prepaid is cheap. I am paying 7.65 for my home equity loan.
This year I might need to do prepaid because I sold Alinta and Multiplex shares, both were taken over.

ANZ margin lending variable rate is 9.4% according to their site.
That is expensive.