@TheFatGeneral I have been informed that Macquarie have sold their margin lending book (prime lending) to Bell Potter. Bell Potter would of reviewed the stocks that Prime was offering lending on and only paid for the business that can be transferred over, full well knowing that they would not be able to re-finance part of the business.
I can't find a comparable margin lender at this stage that offers gearing on the list of stocks that Prime did, however it is worth reaching out directly to Bell Potter or if you have other margin lending relationships to see if they will offer you at least some LVR on your positions, as they do review this on a case by case basis.
Iam with you in regards to % of gearing in the portfolio only at 15%, however it's the value of that 15% that may be a problem to refinance elsewhere & or pay out within the next 6 weeks without selling down pat of the portfolio.
The only other provider that I remember had a fairly extensive list of stocks to offer a margin was Opus Prime (I think the lender was ANZ or St George?) and unfortunately that business blew up and in the process took with it people's accounts and positions. When the banks that provided the lending foreclosed on Opus Prime, they sold people's positions on aggressively on market during the GFC to recover monies owed.
I have also asked for the details of Mark Oliver - Head of online trading & managed accounts' at Macquarie, in order to make direct contact to express my frustration with their business.
