Is it sensible to go to a bank and ask them to finance the purchase of a second house, for rental, when all you have is a fully owned house (of somewhat less value) – i.e. no cash deposit funds at this time?

That was my question in the beginning. The answer is: Yes.

And from there we can wander off in all directions covering all kinds of a…[Read more]

Don’t know. Don’t know enough about anything. Have a feeling that brokers are for people finding their way through complicated deals sometimes difficult to finance – and for which they pay extra, often. Not to the broker. This thread has taught me, I think, that the broker costs the borrower nothing? But to the…[Read more]

Tomorrow we will go to ANZ. That’s who we got our mortgage from before. As I said, turned out to be the only bank willing to give us a go if we infer from the change-mortgage disinterest of the others.

So we feel a little loyalty.

What’s loyalty worth to the rational investor?

What did…[Read more]

What’s the definition of income? That’s the point.

Does it include the income to be obtained from renting the second property?

Probably my fault for not putting the question correctly. It’d also be hard for you guys in the business to understand just what a newbie, how uninformed and naive I/we are.

Here’s another go:

Would you expect banks (i.e. conservative lenders) to…[Read more]

We have just finished buying our house and want to buy another and rent it out.

Call that an investment property I think don’t you? We/I are totally ignorant of all aspects of this. We’re capitalists only nominally.

I’ve had some little experience of banks and…[Read more]