Total Members: 158,544

cubman09

  • cubman09 replied to the topic Low Doc Loans to 80% without LMI in the forum Finance 14 years, 5 months ago

    Hi Richard,I beg to differ it is not a requirement and is offered at 80% without LMI. It is at the lenders discretion and there own risk. The lender does not require BAS or trading statements if an Accountants Certification is obtained.Kind Regards,AM

  • cubman09 replied to the topic Appealing a valuation in the forum Finance 14 years, 5 months ago

    Hi Sienna,Matt is most correct on this one. Being from a lender it is extremely difficult if not impossible to have the valuer adjust his valuation. Most lenders will not allow a 2nd valuation as the process will just continue if your not happy with that one also.Most people make the mistake of getting a real estate appraisal and honestly the…[Read more]

  • cubman09 replied to the topic ANZ Bank – Incompetence and Fraud in the forum Finance 14 years, 5 months ago

    Hi Guys,ANZ are having a lot of trouble with issues like this as there processing has been partially transferred offshore. I would be in touch with the Ombudsman.Kind Regards,AM

  • cubman09 replied to the topic Low Doc Loans to 80% without LMI in the forum Finance 14 years, 5 months ago

    Hi Guys,I know a lender that will look at 80% Low Doc without LMI Clear credit. They only require a Repayment Declaration and Accountants Letter. If you try to obtain the Accountants Letter and are unable they will ask for six (6) months trading statements. No Doc is dead. Anyone lending that way would be mad.Kind RegardsAM

  • cubman09 replied to the topic Happy with your bank? in the forum Commercial Property 14 years, 5 months ago

    Hi YI,Parkdale VIC you live. Yes, she does have the cash. A large inheritance from a friend covers this. How can we get into more property investing. I am a bit stuck in a rut with the new family.Kind Regards,AM

  • cubman09 replied to the topic Happy with your bank? in the forum Commercial Property 14 years, 5 months ago

    Hi YI,I am a 30 y.old with a young family. Just want some advice as i am struggling to get started with investing as to be honest i work in the lending industry and my wife has been on maternity leave returning in the next few months. My situation is the following:PPOR – EMV: $440K (Debt: $210K) in TRARALGON VIC (Owned by my wife and me)IP – EMV:…[Read more]

  • cubman09 replied to the topic Starting out. What way to go? in the forum Oh well. Your decision.
    Not
    14 years, 5 months ago

    Oh well. Your decision. Not a fan as i would rather get a higher lend on Melton and even purchase another security with the funds i have left over. Good luck.

  • cubman09 replied to the topic Finance dilema! Contract signed no finance. in the forum Help Needed! 14 years, 5 months ago

    Maybe a lender can help instead of a bank.Andy

  • cubman09 replied to the topic Starting out. What way to go? in the forum Help Needed! 14 years, 5 months ago

    Hi Michael,Richard is right. The 1 brm unit should be over 50 sqm in size in order to obtain a 70% plus LVR. Anything from 40-50 sqm maybe 60-70% were you can get up to 95% on Melton property on a Full Doc loan. If the property is serviced or under a management agreement or high rise development also affect the 1 brm unit. Ring a few lenders or…[Read more]

  • cubman09 replied to the topic Real Estate commission on rentals in the forum Help Needed! 14 years, 5 months ago

    6.6% in Traralgon VIC. Negotiated on the price though.L.AHappiness is made. Try making some.

  • cubman09 replied to the topic Property address confusion in the forum Finance 14 years, 6 months ago

    Very touchy the mortgage insurers now days. The valuation may have read noise pollution and that is now a reason for them to decline. Is the loan a Low Doc or Full Doc? What LVR? My dealings with the mortgage insurers know days are nightmarish. The valuer should have really noted the report is known by two (2) addresses. Let me know if i can help.L.A

  • cubman09 replied to the topic Company as Trustee – Serviceability Issue in the forum Finance 14 years, 6 months ago

    This is a common structure of ABC Pty Ltd ATF The ABC Family Trust with ABC Pty Ltd, Mr ABC and Mrs ABC as guarantor. A lot of people will set up a Special Purpose Vehicle (SPV) for the purpose of acquiring the property etc that may specifically deal with the property investments.It is definately an option you could nut out with your Accountant. A…[Read more]

  • cubman09 replied to the topic Guarantor Loans in the forum Finance 14 years, 6 months ago

    Nix340,You will be hard pushed to get finance for a servicing guarantee as Terry says. I dont know of anyone nowadays that will do a income or servicing guarantee. You can use your partners parents property and as Terry says they will have to refinance any debt over to the lender if they have a debt associated with the property. This is known as a…[Read more]

  • cubman09 replied to the topic Investing in over 55’s apartments in the forum General Property 14 years, 8 months ago

    Lenders and Banks are a bit touchy when it comes to these securities. LVR's vary. No differences in relation to structure of the loan, however its your LVR that is reduced.The ugly is it has a limited market at the Over 55's, so it is all dependent on researching the area to ensure there is a high demand. To be honest you dont want to be…[Read more]

cubman09

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