Total Members: 149,176

Loui

  • Sorry guys further to this partner just told me broker last year did a 152k top up as a seperate investment loan and put the funds in an offset account. Was this correct? Irrespective what would be ideal loan structure from a tax perspective based on a 480k being sought now?

    Many Thanks

  • Hi guys,

    My partner is moving in with me and is renting her ppor out. She is also wanting to refinance her loan to another lender. If she borrows 80 per cent of 600k even though she owes 270k is she best to fully draw loan and put remaining in offset? Or just get a 480k loan and leave funds in redraw? Can she only claim the 270k until the 210k…[Read more]

  • Hi guys,

    Just wondering what interest coverage are the more hungry Commercial lenders asking for now?

    Also are the loans assessed at higher rates like home loans at 7.50 per cent?

    Thanks

  • Hi guys,

    Just wondering what interest coverage are the more hungry lenders asking for now. Also are the loans assessed at higher rates like home loans at 7.50 per cent?

    Thanks

  • Loui replied to the topic Bank serviceability. in the forum Finance 2 years, 10 months ago

    Gents awesome advice. Really appreciate it.

  • Hi guys,

    My sister and bro in law have a low Doc loan with Wbc for 300k on a property worth 1.0m. No other debts. They need 100k cash out to pay my parents for monies owed for the reno they did. My sister now works as a teacher earning 50k gross plus they have a rental property they get 12k in income a year. They have 2 kids. Unfortunately my…[Read more]

  • Thanks Richard.

  • Hi guys,

    Prob an easy question for my broker friends here, but can you explain how banks look at the tax payable in your servicing position when you have franked dividends paid. Do they adjust the real tax paid by you by looking at the tax assessment with your franking credit or do they just take the conservative approach and input your…[Read more]

  • Loui replied to the topic Bank serviceability. in the forum Finance 2 years, 10 months ago

    Thanks Jamie.

    I can only imagine if negative gearing was abolished how even tougher it will be to get loans approved without the tax breaks on available income to service.

  • Loui replied to the topic Bank serviceability. in the forum Finance 2 years, 10 months ago

    Hi Richard.

    Your absolutely right. Are you saying other banks are doing things differently with the rates they assess loans? Have your got examples? Also are they main stream lenders?

  • Loui started the topic Bank serviceability. in the forum Finance 2 years, 10 months ago

    Hi guys,

    Are all banks now assessing servicing around the 7.50 per cent? Do they provide flexibility if your fixing in your loan say for 3 or 5 years? Speaking to my lender they said no. Also it’s ridiculous to think all investment loans are assessed at principal and interest and not on interest only if that is your long term strategy. I can…[Read more]

  • Hi guys,

    I’m sure this has been covered off before my time, but are you finding it difficult getting banks to consent to second mortgages? Do they have a right to decline the request? Also if they see a caveat is it a reason for them to not advance further funds under its mortgage ? Interested in your thoughts as I wouldn’t have thoughts it…[Read more]

  • A close friend of mine, purchased a property on a 12 month terms contract and then has on sold it a month before needing to settle. The sale contract is effectively 11 months from receipt of funds. He is making quite a healthy profit on this and these sort of deals are unheard of these days.

    My questions is, how long does he need to live in it…[Read more]

  • Hi guys,

    Quick one. If the rental on my commercial retail property is higher than what the market indicates, will the bank rest off the valuation figure based on the profit rental made or purely on the raw method of what rental the property should generate on the property? This could be a difference of 150k for me based on my sums.

    Thanks
    Loui

  • Loui became a registered member 3 years ago

Loui

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