PropertyInvesting.com | No1 | Activity https://www.propertyinvesting.com/members/no1/activity/ Activity feed for No1. Sun, 12 Apr 2026 13:54:40 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 a467d4c8b2821c5e9d050a9fa62511ff No1 replied to the topic Loan structure in the forum Help Needed! https://www.propertyinvesting.com/topic/4402595-loan-structure-10/#post-4640604 Fri, 28 Jan 2011 22:05:23 +0000 I wouldn’t suggest going to a branch with this but maybe Richard can look in to it for you.

CBA accept commercial as “collateral security” for home loans e.g. You can potentially use the commercial equity and the new residential without having to refi from NAB.

I settled a residential loan through CBA last year on this product. 2nd mortgage on…[Read more]

]]> 7639a219f25b06fa042fa9b4de8192f1 No1 replied to the topic Self Employed = banks don't like us in the forum Help Needed! https://www.propertyinvesting.com/topic/4402550-self-employed-banks-dont-like-us/#post-4640284 Tue, 25 Jan 2011 08:26:05 +0000 Allow me to be the bad guy…

Te wrote:
We used a broker to help us buy the business, set up a LOC with property equity and made it look more like and investment loan, rather than a commercial business loan. LOC $150K.

That’s OK. Honesty is not required by banks anyway.

Te wrote:
made small profits (08/09 $40K, 09/10 $80K) ……we are …[Read more]

]]> ece72e5a150f79388a0b674adea46703 No1 replied to the topic 3 units in the forum It's not impossible. How https://www.propertyinvesting.com/topic/4402571-3-units/#post-4640460 Tue, 25 Jan 2011 06:53:13 +0000 It’s not impossible. How much debt do you have on the house?

]]> 5781d75a37bfaf3ab24a1896e4a0892c No1 replied to the topic MLI- I need a lender for refinancing 90% in the forum Finance https://www.propertyinvesting.com/topic/4402512-mli-i-need-a-lender-for-refinancing-90/#post-4639991 Mon, 24 Jan 2011 18:40:02 +0000 CBA use Genworth not QBE (unless they are now the same).
Defaults under $500 can be approved without going to the mortgage insurer. Unless the loan is over 1M, default is over $500 or another breach ( there are a few others), the mortgage insurer does not see the deal. Bankers often hide behind the insurer rather than telling you they have…[Read more]

]]> 71f38c19d8e0bb082808fcde061c547f No1 replied to the topic Equity Question in the forum Finance https://www.propertyinvesting.com/topic/4402438-equity-question-3/#post-4639560 Mon, 24 Jan 2011 18:23:52 +0000 Sebastian Shauw wrote:

Equation: $350,000-$125,000=$225,000 the amount of equity in your home.
Maximum line of credit from your bank: $225,000 X 80%=$180,000.

This is the maximum the bank will loan in this scenario, solely based on the home’s value.

In addition to Richards comments the above calc is incorrect.

Home loan of 125k plus line of…[Read more]

]]> d61eef87025f37ba4cfbaefb78144968 No1 replied to the topic finance for investment property on centerlink pension? in the forum Help Needed! https://www.propertyinvesting.com/topic/4402499-finance-for-investment-property-on-centerlink-pension/#post-4639928 Thu, 20 Jan 2011 22:22:43 +0000 Banks will generally take 80% of rental income and assume the other 20% goes towards agents fees, rates and maintenance etc (in my opinion that's quite generous for older properties that may require some work). They also assess on higher rates to ensure you can maintain your repayments if interest rates increase (usually assess 1% to 2% above…[Read more]

]]> 4e3b87109a80949fdfcd042d14005f26 No1 replied to the topic Equity Question in the forum Finance https://www.propertyinvesting.com/topic/4402438-equity-question-3/#post-4639557 Tue, 11 Jan 2011 14:00:15 +0000 250k – can you let us know your bank? In some cases there are reasons behind this e.g. 1. If you have a good customer rating they may not need to value the property (your estimate may be OK)2. Some don’t charge valuation fees and do not have the ability to charge them via the branch. Because they are wearing the cost they only order the va…[Read more]

]]> 72558d5d4398e6b82ac4983b4cb2eb86 No1 replied to the topic TO CROSS OR NOT TO CROSS in the forum Finance https://www.propertyinvesting.com/topic/4402237-to-cross-or-not-to-cross/#post-4638461 Mon, 10 Jan 2011 01:57:19 +0000 Hi Packer, CBA can generally uncross with no fees. Restructure via a 3 page switch application. Should be as easy as pie.

]]> 0d8e3225261a45615ad348092593a084 No1 replied to the topic Commonwealth try get me to cross collateralize- what do you think? in the forum Finance https://www.propertyinvesting.com/topic/4402333-commonwealth-try-get-me-to-cross-collateralize-what-do-you-think/#post-4639026 Mon, 10 Jan 2011 01:47:40 +0000

evernat wrote:
Hi allSo I go in to the commonwealth bank the other day to apply for my LOC to use for my deposit for first ip.They first ask me where I'm getting the rest of the loan for the ip , I tell them Bankwest.They proceed to question me why I would not just go with them for the whole loan ect.They tell me even if I had the loan with…[Read more]

]]> 2908a5ea6f4ae403d7c440a962628806 No1 replied to the topic Totally stuck, help! in the forum Finance https://www.propertyinvesting.com/topic/4402233-totally-stuck-help/#post-4638424 Mon, 20 Dec 2010 07:48:22 +0000 Agreed with Marty. Land is OK up to 125 acres. Must be something else they don’t like so I’d get clarification…

]]> 97e82be1e75cacd94dbc8c4d145f45bd No1 replied to the topic finance quickly after buying the first in the forum Finance https://www.propertyinvesting.com/topic/4402169-finance-quickly-after-buying-the-first/#post-4638044 Mon, 13 Dec 2010 14:07:22 +0000 If you take your 300k to 90% this equals 270k which nets a little cash to pay stamps etc. You already have your 5%.

It will come down to income.

]]> 727ff18c585840d6236a6783240e4009 No1 replied to the topic Borrowing Capacity Formula in the forum Help Needed! https://www.propertyinvesting.com/topic/4402178-borrowing-capacity-formula/#post-4638077 Mon, 13 Dec 2010 12:22:02 +0000 I would say Richard is spot on here.

But if you want a more detailed answer here goes.

Acceptable existing income*
Plus acceptable proposed income**
less tax***
Plus neg gearing add-backs****
less living expenses*****
less repayments on existing loans******
less repayments on new loans*******

* some lenders don’t accept some forms of income…[Read more]

]]> 0da54d050f506dce7f14e1bd8b5c4104 No1 replied to the topic Mortgage exit fees axed! in the forum General Property https://www.propertyinvesting.com/topic/4402184-mortgage-exit-fees-axed/#post-4638105 Sun, 12 Dec 2010 06:13:12 +0000 Good for the major 4 who had the lowest Deferred Est Fees in Australia and can afford to waive them (two of the 4 already had).

Many non bank lenders only have a half good rate because they either get 4-5 years interest revenue; or if repaid within that time revenue from DEF.

Keep in mind that many non banks insure all loans. Over 80% they…[Read more]

]]> 866f4af181adf55dc4bb1a70eefb8835 No1 replied to the topic Will a bank lend money if the borrower isn't on the title? in the forum doggity wrote:What are the https://www.propertyinvesting.com/topic/4402163-will-a-bank-lend-money-if-the-borrower-isnt-on-the-title/#post-4638002 Sun, 12 Dec 2010 02:18:44 +0000 doggity wrote:
What are the banks rules on titles? Do they need the name on the title to be the same as who has the loan? What if the title has two names, one that is on the loan and one that isn't.  Does that reduce borrowing capacity (since the bank can only have security over one owners share)

You cannot mortgage half a property.

The l…[Read more]

]]> 12e1fcdf9a36862128ed8ed00932919c No1 replied to the topic Finance for un/discharged bankrupt. in the forum Finance https://www.propertyinvesting.com/topic/4402094-finance-for-undischarged-bankrupt/#post-4637545 Fri, 03 Dec 2010 03:04:25 +0000 To the best of my knowledge it is illegal to lend to someone who is bankrupt. Whilst bankrupt you will be allowed to earn up to something like 65k p/a and have a car to the value of x. You can not enter in to a credit contract – nor can a lender offer one to you.

It is believed that banks will not lend to someone who was once bankrupt. This is…[Read more]

]]> ecc4ada6c6e5a291bbc22ee1f1f14979 No1 replied to the topic Bank refusing to allow or accept a revaluation of my property in the forum Finance https://www.propertyinvesting.com/topic/4402088-bank-refusing-to-allow-or-accept-a-revaluation-of-my-property/#post-4637519 Thu, 02 Dec 2010 06:24:41 +0000 They have no need to revalue unless you are borrowing more money. It will make no difference to the loan as it is already mortgage insured regardless of current value.

Even if they did get a new valuation for legal reasons they are not generally allowed to give them to customers. Therefore a pointless exercise.

]]> d94c1e3447509a28c9a1598dd595f618 No1 replied to the topic Is it worth refinancing to a smaller home lender? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401944-is-it-worth-refinancing-to-a-smaller-home-lender/#post-4636617 Fri, 19 Nov 2010 23:10:17 +0000 Steve,

How much is your loan?
You are on Wealth or MAV Package with 0.5% discount?
You can increase the discount to 0.7% with no cost (7.11%).
Cheaper than ING.

]]> 09c3cd28c1655a926df5486fc230072b No1 replied to the topic Family Trust Confusion in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4396451-family-trust-confusion/#post-4605091 Wed, 17 Nov 2010 23:26:40 +0000 Susannah,

When X Investments p/l goes to the bank it has two options.

Option one is to set up an account in the name of ‘X Investments P/L’
Option two is to set up an account in the name of ‘X Investments P/L’ as trustee for ‘The ABC Family Trust’

It is important to note ( as others have) a trust is not a legal entity. It is only a structure.…[Read more]

]]> a23817eb87b9679cdf32e015de6c2a72 No1 replied to the topic Exit Fees in the forum Finance https://www.propertyinvesting.com/topic/4401860-exit-fees-2/#post-4636044 Wed, 17 Nov 2010 13:37:34 +0000 A large majority of small lenders pay mortgage insurance for all loans – even if only lending 10%. Banks usually only insure over 80%.

To remain compeititive smaller lenders only pass on the insurance cost over 80%. They absorb the cost for loans under 80%.

To date ASIC is indicating they will allow lenders to recover costs – but not charge…[Read more]

]]> a0804062e1fc455a473f50a02d012678 No1 replied to the topic Why not Meblourne in the forum General Property https://www.propertyinvesting.com/topic/4401910-why-not-meblourne/#post-4636339 Wed, 17 Nov 2010 12:17:57 +0000 Brunswick is only 6 km north of Melbounre CBD (I have walked it a few times – not far). Access by tram and plenty of trendy cafes..

Only downside is it is not that cheap anymore. Id buy there. But be careful – there are a lot of shoebox apartments and studios turning up there. Try to get 2 bedrooms if it is within your price range.

]]> 7b923cf5ebcccc04f1e8ee63913e7857 No1 replied to the topic I'm starting my own Commercial / Industrial agency. What do buyers and sellers want from a commercial sales and leasing agency? in the forum Scott No Mates wrote:Banks https://www.propertyinvesting.com/topic/4401856-im-starting-my-own-commercial-industrial-agency-what-do-buyers-and-sellers-want-from-a-commercial-sales-and-leasing-agency/#post-4636012 Wed, 17 Nov 2010 09:12:17 +0000 Scott No Mates wrote:
Banks aren't lending on commercial (generally) so it is going to be tough.

Hi No Mates. They are all still lending for commercial. What makes you say banks are not?

]]> 23e0150bb25f0c05b7fa782b43804bd8 No1 replied to the topic Why not Meblourne in the forum Might be great in the short https://www.propertyinvesting.com/topic/4401910-why-not-meblourne/#post-4636336 Wed, 17 Nov 2010 08:58:39 +0000 Might be great in the short term. A lot of the new estates do very well as the estates fill out. On the downside Cranbourne is a lower income area with thousands of new houses being built. If all goes well you will be fine but if the market drops in Melbounre I would be comparing Cranboune to the outer Western suburbs of Sydney. If neg geared I…[Read more]

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