Assuming the $55k is net and not gross (if it is gross borrowing power will be less)
and your monthly repayments are $600( if they are higher, will lower borrowing power).

The approx maximum, with these figures, would be $360000.

These figures have only been used through one lender, other lenders will differ.

In regards to FHOG and daughter etc.

You can’t use your income, unless you go with the CBA’s new loan, however need equity in property.

Besides that No Go.

One thing to consider in this example; he was an agent, could have come under different laws etc.

Another thing to consider; you didn’t pay stamp duty, this time.
I’d check with another…[Read more]

As I’m just about to purchase some units and land Off the Plan and don’t want to be caught by the same Co.

Thanks

If niether of these are options there are 100% purchase home loans, also private funds…[Read more]

picja@eftel.com.au

How it works is easy (using super for deposits etc.)

You need to roll your super over to the Super fund company, with this product.For rolling over your super they will lend you, your required deposit amount. It’s that simple, you just need to contact me…[Read more]

Takes approx 2 days – 14 days to access the funds, depending on where your super is now.

You can access most of the fund, need to leave some for yearly audits/fees.

Costs $500 application fee

picja@eftel.com.au

picja@eftel.com.au

“If you are Bankrupt or in a Part 9 or 10, you are given the worst rating.”

I don’t know of any lender that lends to people that are currently bankrupt?

I think what Terryw meant to say was; If you are discharged bankrupt or in part 9 or 10 … etc..

This means, yes, 1 day out of bankruptcy, you can recieve…[Read more]

picja@eftel.com.au

Some terms would be at 7 -10% p/a depending on the vendor.

For the vendor, this beats putting it in the bank at 4% or what ever may be the case.

The second mortgage differ’s from vendor finance as the property would be in your name…[Read more]

1. Listing price of property is $100k, you negotiate with vendor to buy at $80k. $20k equity to be used.

2. 2nd mortgage from vendor

3. As Mel said Off the Plan

4. As Mel said Long settlement

5. Use your super.

Also, you can get away with no deposit to agents. Generally, when you are using these…[Read more]

There are lenders who will lend to you while you are currently in a Part 9 or Part 10.

Max LVR 85%, if providing full financials, 75% LVR if self certifing.

Contact me any time, for full assesment.

picja@eftel.com.au

I am with an national comapany and there is only few differences within states. Mainly, difference of lenders for each state. Generally, no difference of rates, with the exception of some. For example, Adeliade Bank in QLd is sent through to many different mortgage managers who set…[Read more]

Lo – Doc loans

The main Lo- Doc’s through A lenders require min 2 yrs self-employed or investor, however, you do not need to provide ABN, so people can get away with less. This is what firstbruce is suggesting.

However, there are lenders who provide finance to self-employed and they only have to be applying for an…[Read more]

picja@eftel.com.au

The most important parts to determine the appropriate lender would be;

1)How much the defaults were for?
2)Are they paid?
3)How old are they? If, older than five years, they would, generally, not be on credit file, unless unpaid or bankruptcy etc.
4)How did they come about?

This will…[Read more]

picja@eftel.com.au

Although, I was reffering to the properties that he was trying to do or is currently doing, without buying in his name or option.

He certainly is acting as a real estate agent! So, if he is acting as one, why then, do real estate agents need licence’s and Bear doesn’t?

Anyone had dealings with these?

What are you talking about?

Lenders offer 2nd mortgages up to 85%LVR
St George is a lender that lends for 2nd mortgages.

It sounds like to me, you are one of these people that make comments to areas that you have no idea about, just a general view! Also, sounds like you’ve been bitten by a broker.
As for valuers, well that subject could…[Read more]

I know of 1 valuer in Brisbane that will always under…[Read more]

In a population with 30000 should be able to get 95%
picja@eftel.com.au

Location definately applies.
QLD- Bris,Gold Coast, Sunshine Coast, Mackay – Bowen, Rockhampton,Yeppoon Toowoomba Townsville.
NSW- Coffs Harbour*, Northern NSW, Wagga Wagga

Look for not only residental blocks, but also large land parcels for development and unit townhouse…[Read more]

Secondly, need to look at income to assess your borrowing power. You should be able to borrow more than $50k.

Thirdly, for assest loans (TerryW suggested), you will need to be…[Read more]

picja@eftel.com.au

There are lenders out there that will lend up to 110% for commercial deals,however I will tell you now, you pay for it. If the…[Read more]

Put your SMSF into 2nd mortgages.

There are companies out there, who can get up to 30%p/a. Most, though are about 12%.

Set-up $450 for SMSF
Yearly Audit $900

picja@eftel.com.au

With this lender you can get the funds to cover LMI and fees from any where. Gift, personal loan, loan on your car etc..

In regards to getting peoples…[Read more]

They pay approx $25-30000 per machine, imported to Aust. Sell for approx $50-60000 and this is still selling below market value.

Other machinary items make can make a better return than this too.

Just thought you might like to know returns on other…[Read more]

All Lo Doc loans max 80% LVR

No Doc’s 65% LVR

You should have no problems.

picja@eftel.com.au

In Australia, no problem. Do it all the time.

To set up DIY super approx $495
Yearly audit $795 approx.

You can also have your super pay for investment courses, internet charges, the list goes on….

picja@eftel.com.au

Up until recently, every home loan lender required a deposit from every customer, whether it be 3 or 5%. So what happens is, that these builders/homes put that 3 or 5% in for you.

So, somehow, they have got to get it back. Whether it’s higher interst rate or payments while…[Read more]

picja@eftel.com.au

So in regards to…[Read more]

If you are thinking the $35000 is buying you security and a peace of mind that you are in a supportive enviroment, well you will get this with other companies for nothing. Not only that you will receive higher commisions.

It is in the any company’s interest that you perform well, they recieve commissions from your loans.

If…[Read more]

Also, what they will do, is a joint venture with the developer and split profits accordingly. Not that risky when you know what’s going on and especially the developer.

I would advise against buying a franchise, I know a lot of companies that sell franchises and ask anywhere from $20000 – $50000. You have to ask yourself what is this paying for?
Do you receive advertising and how much?
How many leads is the company going to give you?

Like Terryw said, your best approach is to…[Read more]

Set up $495 includes everthing.

Audits from $795

Also a lot of clients like to invest their super in our 2nd mortgages, which you can earn a return from 15%- 30%p/a.

picja@eftel.com.au

Take this into consideration:

The new 100% home loans with ST George and Pepper
How risky is this to the banks? Why are they doing this?

Why do Stgoerge and many other lenders do 2nd mortgages?

Why did Liberty start off, doing 2nd mortgages and is now one of the biggest, if…[Read more]