PropertyInvesting.com | Anitamarshall | Activity

Anitamarshall replied to the topic Mortgage broker needed in Melbourne. in the forum Finance

Wed, 13 Dec 2006 21:19:42 +0000

Have you managed to locate one?

I would be happy to discuss the services that I offer with you. I specialise mainly in property investors (and have another broker that works for me that handles first home buyers etc).

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic mortgage broker needed in the forum No Subject

Wed, 13 Dec 2006 21:11:50 +0000

hi Morty – how did you go?

I would be happy to help you.

We have very high service standards. I always make sure that loans are submitted the same day we take the application (unless it is a night appointment of course then it gets loaded the following day). We also update you with progress reports whenever anything is updated on the loan.

I…[Read more]

Anitamarshall replied to the topic should I go with powerloan for my first home loan? in the forum Finance

Wed, 13 Dec 2006 21:08:05 +0000

If they are a mortgage broker ask them to give you some comparisons of other products to theirs – they should be able to do this. There are some excellent interest rates around for 100% home loans (if that is what you are doing) and also some competitive fixed and introductory rates at the moment – definitely shop around.

Anita Marshall
Advanced…[Read more]

Anitamarshall replied to the topic Aggregator Advice in the forum Finance

Wed, 13 Dec 2006 21:05:18 +0000

hi there – I am with Plan Australia and my cousin uses FAST.

The reason I chose Plan above FAST is that they provide a lot more support, software and other things for a new brokers. I think FAST is probably excellent for highly experienced brokers but Plan offer a lot more ie:-

– regular lender training days
– they will give you your own website…[Read more]

Anitamarshall replied to the topic Rent to Buy, Melbourne - Advise Please in the forum Finance

Wed, 13 Dec 2006 21:00:41 +0000

hi there – i have 3 different clients that set up these type of deals on a regular basis. I am happy to put you in touch with them if you would like me to? If so send me an email or phone me and we can take it from there.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Quick Firstmac questions in the forum Finance

Wed, 13 Dec 2006 20:56:08 +0000

Have you found out everything you need to know – if not let me know and i will email you some information if you like.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Rewind two years in the forum Finance

Wed, 13 Dec 2006 20:53:21 +0000

I can honestly say i have never heard of it.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic No Doc loan help in the forum Finance

Fri, 03 Nov 2006 23:24:09 +0000

A no doc loan could be a good alternative for you. YOu dont declare any income simply that the loan wont put you into financial hardship.

Most lenders will go to 70% of your property value and some will go to 80% if you have had an ABN for more than 2 years. There are also some that will go higher on a low doc (where you state an income but if…[Read more]

Anitamarshall replied to the topic home loan in the forum Finance

Fri, 22 Sep 2006 21:09:12 +0000

I agree with Terry – you rate might not be the best but it certainly isnt terrible and its going to cost you quite a bit to change. Another option may be to go back to the same lender and see if there is any product switch available – for a small fee you might be able to swap to another loan type with a more competitive rate.

Anita…[Read more]

Anitamarshall replied to the topic No Docs: A Potential Problem in the forum Finance

Sat, 09 Sep 2006 04:25:28 +0000

I had the same issues twice with clients recently. One of them I got around by using an uninsured product through a lender called Stellar Finance (but they will only go to 70% uninsured) â€“ the other one I got around because the client was insured with RAMS through PMI so we put the application through Stellar with Genworth instead of PMI â€“…[Read more]

Anitamarshall replied to the topic LO DOC/NO DOC in the forum Finance

Sat, 09 Sep 2006 04:18:51 +0000

I dont know of any books on the subject however if you contact an experienced broker they should be able to give you the details you require.

Things to keep in mind:-

– No doc doesnt require you to state an income at all – simply that you can afford the loan
– Low doc requires an income declaration and depending on the lender some also require…[Read more]

Anitamarshall replied to the topic LODOC Incomes in the forum Finance

Sat, 09 Sep 2006 04:12:40 +0000

If you only need 80% LVR then i would suggest you go the “no doc” option on your declaration. This is where you dont state an income at all – simply that you can afford the repayments. No income, asset or liability verification is required. Interest rates are now very competitive for No Doc loans and this doesnt tie you into any income declaration…[Read more]

Anitamarshall replied to the topic Is THE INVESTORS CLUB for real? in the forum Heads Up!

Mon, 29 May 2006 20:45:13 +0000

I am fairly sure that I have seen someone on the forums that is actually from the investors club so it may be worth having a look to see if you can find them and ask them the questions direct.

I handle loan enquiries for my area for clients purchasing through the investors club.

My understanding is that they receive a commission similar to if…[Read more]

Anitamarshall replied to the topic Finance enquirie in the forum Finance

Mon, 29 May 2006 20:30:08 +0000

Most lenders have bridging products these days based on their standard interest rates for a home loan.

Some lenders also have “end debt” bridging loans which is where you are only required to pay the payments on what your end debt would be once your existing property is sold. This can be very helpful for your cashflow position while you are…[Read more]

Anitamarshall replied to the topic Stamp duty & Fees in the forum Finance

Mon, 29 May 2006 20:24:42 +0000

Which state? the stamp duty varies from state to state.

NSW would be :-

$5490 for stamp duty on the purchase
$1500 – $2000 legals (should be able to do it a bit cheaper but depends on what searches/inspections you decide to do)
$769 mortgage stamp duty (depending on the amount you borrow)
$1000 – allow for adjustment of rates/other variables (…[Read more]

Anitamarshall replied to the topic Finance for flood prone properties in the forum Finance

Mon, 29 May 2006 20:20:00 +0000

Good point with regard to resale. As Terry mentioned the lender may also require a flood certificate from council. Some councils will not issue them for certain flood zones (eg. Port Stephens Council will not issue flood certificates for Salt Ash) so i would also make enquiries with the council in regards to what they will and wont issue.

Anita…[Read more]

Anitamarshall replied to the topic A tricky question requires lateral thinking in the forum Finance

Mon, 29 May 2006 20:15:56 +0000

With the amount of equity you have in your property you should have a selection of lenders that you will be able to apply through. I would recommend approaching a broker who can do some shopping around for you and come back to you with a selection of lending options.

Anita Marshall
Advanced Finance…[Read more]

Anitamarshall replied to the topic 2 sperate loans or joining 2 together in the forum No Subject

Mon, 29 May 2006 20:10:36 +0000

I definitely recommend you keep them seperate – most accountants prefer it that way too because it allows them to keep the profit/negative gearings aspects seperate for tax time too.

If you need to use the equity in your existing property there are ways of structuring the loan to keep them seperate too.

Anita Marshall
Advanced Finance…[Read more]

Anitamarshall replied to the topic Help for refinancing 3 houses in the forum No Subject

Wed, 24 May 2006 20:56:33 +0000

No, i am not qualified to give taxation advice. I am a mortgage broker only so therefore would recommend that clients seeking financial advice regarding structure for taxation purposes seek advice from their accountant. I often call their accoutnants for them and discuss structure for the client. I do know of a few brokers who are also qualified…[Read more]

Anitamarshall replied to the topic Tax deductions on subdivision in the forum Legal & Accounting

Wed, 24 May 2006 20:46:23 +0000

I cant see why not but i would recommend you check with your accountant – us brokers are not qualified to give clients tax advice and often an accountant will come up with structures for loans that will maximise tax benefits.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Finance for flood prone properties in the forum Finance

Wed, 24 May 2006 20:43:27 +0000

I have just done one in NSW – it was a bit of a nightmare to be honest but we got it over the line. The floor level of the house had to be above the highest previous flood level and the clients needed to get a survey to do this. The clients were borrowing 80% so perhaps if the LVR was lower they may not have been quite that strict.

Anita…[Read more]

Anitamarshall replied to the topic Finance for Wraps in the forum No Subject

Wed, 24 May 2006 20:41:11 +0000

Maybe they were talking about someone who is “discharged” bankrupt – in that case you can do a loan however if the LVR is high then the interest rate will be extremely high too.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic How does one finance with several banks? in the forum Finance

Wed, 24 May 2006 20:37:34 +0000

I would recommend you use a broker because they will be able to advise you on the lender that best fits your needs, they will shop around for you and come back to you with a selection of lenders that will suit your needs. They will also submit the loan to the lender and do all the paperwork required to get the loan approved. This way you dont have…[Read more]

Anitamarshall replied to the topic Question for Q&A RESULTS 2: Mortgage brokers in the forum Finance

Wed, 24 May 2006 20:32:45 +0000

I think if you choose your broker carefully you will be really pleased with the experience. They will help you choose from a selection of lenders and you will be amazed at the different ways you can structure a loan. Most brokers have a computer program where you can compare the different lenders using a comparison tool. Very helpful in deciding…[Read more]

Anitamarshall replied to the topic Help for refinancing 3 houses in the forum Finance

Wed, 24 May 2006 01:22:52 +0000

oh my goodness – what a nightmare – i think that is advice that people should get from their accountant not a broker – if we just stick to finance advice that is better for everyone concerned.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Question for Q&A RESULTS 2: Mortgage brokers in the forum Finance

Wed, 24 May 2006 01:15:37 +0000

I always give my clients a copy of my commission schedule for the various lenders as part of my finance broking agreement that I get the client to sign. – i am sure some brokers may be influenced by commission but generally they are all AROUND the same except for non-conforming loans.

Anita Marshall
Advanced Finance…[Read more]

Anitamarshall replied to the topic FHOG for Kiwi's???? in the forum Finance

Tue, 23 May 2006 05:09:20 +0000

Oh i love that quote Wayne. I put quotes of the week on all my emails – i might add that for this weeks if thats ok.

This weeks is “Dont take life to seriously – it isnt permanent”

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Help for refinancing 3 houses in the forum No Subject

Mon, 22 May 2006 18:48:46 +0000

I agree but I often go to training courses and you get brokers that have literally JUST joined the industry and have absolutely no idea what they are doing – it makes me shudder to think what type of strucutres the clients end up with and how much it costs them. At least if they have at least 3 years experience then they would have learned from…[Read more]

Anitamarshall replied to the topic FHOG for Kiwi's???? in the forum Finance

Mon, 22 May 2006 18:45:37 +0000

I have just done a loan for a client who is a resident in Australia but he isnt an Australian Citizen. I am not sure if the ruling varies from state to state but this was a NSW transaction. In this case he EITHER had to be an Australian citizen or a permanent resident (which he was) .We got the First Home Buyers Grant approved so he got the $7000…[Read more]

Anitamarshall replied to the topic Help for refinancing 3 houses in the forum No Subject

Mon, 22 May 2006 04:41:09 +0000

I agree with the comments above and I would also recommend that you check into the experience of the broker you use and what their fees and charges are.

Look for a broker that doesnt charge a brokerage fee so that it wont cost you any more to go through them than if you went direct to the lender yourself (as we get paid a commission from the…[Read more]

Anitamarshall replied to the topic Commercial Property Loan in the forum Finance

Sun, 21 May 2006 05:03:12 +0000

His name is Michael J Veitch of Noble Financial Services – ph 96292700 Mobile 0410556876 email michael@noblefinancialservices.com.au

Tell Mike I gave you his information. He has just done the finance for a child care centre for me and honestly I would not have been able to get the loan for the client without his expert assistance especially at…[Read more]

Anitamarshall replied to the topic Loan on half a property? in the forum Finance

Sun, 21 May 2006 00:59:51 +0000

There are quite a few but the ones that I use are:-

– First Permanent
– First Mac
– Carrington National.

I would recommend use a broker with no brokerage fees to shop around for you though because the rates, fees and charges vary quite a lot with these type of loans.

RAMS have also just issued a 110% loan if you have equity in another property…[Read more]

Anitamarshall replied to the topic valuations in the forum Finance

Sat, 20 May 2006 13:24:39 +0000

Yes, the Bank give the valuer the copy of the purchase contract in most cases and usually also contact the real estate agent selling the property to check the purchase price.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic can vendor access deposit? in the forum Finance

Sat, 20 May 2006 13:15:05 +0000

I am not sure about other states but if the purchaser agrees then it can be done in NSW

Anita Marshall
Advanced Finance Solutions
http://www.advancedfinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Investment in a relocatable home in a Tourist Park in the forum No Subject

Sat, 20 May 2006 13:13:07 +0000

The problem is that lenders cannot use the relocatable home as security so most lenders will only lend on them if they have a mortgage over the land (which obviously you cannot do in a tourist park). Therefore you would have to borrow using something else as security or a personal loan.

Anita Marshall
Advanced Finance…[Read more]

Anitamarshall replied to the topic Loan on half a property? in the forum Finance

Sat, 20 May 2006 13:10:16 +0000

How did your brother in law go in approaching the brother? If he didnt have any luck there are lenders that will lend up to 106% of an investment property purchase…………….

Anitamarshall replied to the topic Lo Doc and The Non-Self Employed in the forum No Subject

Sat, 20 May 2006 13:07:06 +0000

I would definitley not recommend making a false statement or it may come back to bite you – i would possibly recommend that you state that you are “property investors” – thats what you are – there is nothing wrong with that and its a legitimate business these days. Its how most of us create wealth (wages just pay the bills and lifestyle).

Certain…[Read more]

Anitamarshall replied to the topic 80% lo doc no doc in the forum No Subject

Sat, 20 May 2006 13:01:10 +0000

RAMS will lend up to 80% on no doc or low doc without LMI up to $500k and Macquarie will go above that. National Mortgage Company is another one. I would recommend using a good broker to help you sort through the maize of lenders. Use on that doesnt charge a brokerage fee so it wont cost you any more than if you went direct to the lenders…[Read more]

Anitamarshall replied to the topic Financially Best - sell or rent in the forum No Subject

Sat, 20 May 2006 12:57:46 +0000

I am not an accountant and I think your question needs to be answered by an accountant however this is my understanding:-

If you borrow the funds on your existing 2 bedroom property to build the home you are going to live in (for personal use) then that particular part of the loan will not be tax deductible.

If you sell the 2 bedroom home you…[Read more]

Anitamarshall replied to the topic Using Re-Draw on investment loans in the forum No Subject

Sat, 20 May 2006 12:49:01 +0000

Do you have a home loan on your own place – you might be better off working the salary/offset account on your personal loan finance as this wont affect your tax etc.

Anita Marshall
Advanced Finance Solutions
http://www.advancedfinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Deferred Establishment Fees in the forum Finance

Sat, 20 May 2006 12:44:22 +0000

Firstly to answer your question regarding brokers. Yes, we are paid a commission by the lender that we put the loan through. I personally dont agree with brokers charging brokerage fees on top of the commission that they receive however there is no regulation that prevents brokers from charging a brokerage fee so i would recommend that you use a…[Read more]

Anitamarshall replied to the topic borrow over a million in the forum Finance

Sat, 20 May 2006 12:35:11 +0000

On a $1million loan I would recommend that you take advantage of a 12 month honeymoon rate then at the end of the 12 months pay a switch fee (most lenders charge around $300 but often waive the fee anyway) then switch to a different product.

For example you could get a 12 month honeymoon rate of 6.24% for 12 months with no application, valuation…[Read more]

Anitamarshall replied to the topic VALUATION ABOVE PURCHASE PRICE?? in the forum Finance

Sat, 20 May 2006 12:26:40 +0000

In 99% of property loans I have put through lately the valuation comes in at the purchase price so it would be difficult to find a lender that would get a valuer to go above that unless it is a “favourable purchase” (as in you are buying it from a family member for less than the market value or something similar to that).

Depending on which area…[Read more]

Anitamarshall replied to the topic small amount of vendor finance in the forum Finance

Sat, 20 May 2006 12:21:52 +0000

As long as you can afford the vendor finance you can show it in the full contract and some lenders will still finance the difference – you would need to choose your lender carefully though. Otherwise as you suggested you could draw up a seperate agreement.

Anita Marshall
Advanced Finance Solutions
http://www.advancedfinance.com.au
anitamarshall@bigpond.com

Anitamarshall replied to the topic Repayments Begin in the forum Finance

Sat, 20 May 2006 12:19:32 +0000

If you have enough equity in the property you could possible set up a 100% offset account, borrow the amount you will need for payments or interest only during the construction period and use that instead of having to make the payments as you go yourself out of your own funds. This will mean that you are not paying interest on the whole amount as…[Read more]

Anitamarshall replied to the topic Buying a small farm in the forum Finance

Sat, 20 May 2006 12:14:11 +0000

Funnily enough a lot of lenders done like income producing properties. The size and zoning of the land are not so much the issue – what will be the issues they will look at will be:-

– Can you service the loan
– Postcode of the property

I would recommend that you shop around using a broker who doesnt charge a brokerage fee – they should be able…[Read more]

Anitamarshall replied to the topic NMD deals in OZ in the forum No Subject

Sat, 20 May 2006 12:09:42 +0000

My understanding is that a lot of lenders will only lend 80% for overseas residents however ANZ do have a product which may suit you needs – i beleive they will go up to 95%…………

As for the refinance/increase in debt – it might be hard to find a valuer to value it above the recent purchase price – the valuers are extremely conservative…[Read more]

Anitamarshall replied to the topic Commercial Property Loan in the forum Finance

Sat, 20 May 2006 12:05:19 +0000

Hi there – i am a mortgage broker/planner however I dont specialise in commercial finance – i actually refer all my commercial business to another broker who is based in Sydney. He specialises in commercial finance and because of the large volumes of commercial deals he puts through the various commercial lenders he can often negotiate better…[Read more]

Anitamarshall replied to the topic No-Doc No Brainer in the forum Finance

Wed, 19 Apr 2006 07:36:26 +0000

RAMS have a low doc loan starting at 6.72% with no LMI – they also have a special for the month of April there is no application fee. Their no doc 70% rate starts at 7.24%pa. Dont forget that a good broker can do all this shopping around for you without charging you a fee so dont try to work all these things out for yourself – it gets too…[Read more]

Anitamarshall replied to the topic Using IP equity to pay off PPOR in the forum No Subject

Wed, 19 Apr 2006 07:31:16 +0000

I would recommend that you speak to your accountant prior to doing that because it may not be of any benefit to you because the funds you draw back may not be tax deductible unless you put in some funds of your own into the investment property in the first place. If that was the case all you may end up doing is creating a taxation nightmare for…[Read more]