PropertyInvesting.com | pilihp | Activity https://www.propertyinvesting.com/members/pilihp/activity/ Activity feed for pilihp. Mon, 13 Apr 2026 17:30:38 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 1ac59e45e5c760d078a3d09798686a90 pilihp replied to the topic purchasing property without a job or income? in the forum Finance https://www.propertyinvesting.com/topic/4389994-purchasing-property-without-a-job-or-income/#post-4569570 Fri, 22 Jun 2007 21:41:28 +0000 You can borrow up to 70% of the value of your current property on a NO Doc loan. You can use this money for any purpose also, so if you decide to live off some of it for a few months that's your decision. Not many people would do this because with no income and loan repayments to make you will loose your property to a mortgagee sale very quickly &…[Read more]

]]> 9b6c57faba41cf38e50f103649466530 pilihp replied to the topic Interest Only loan advise... in the forum Finance https://www.propertyinvesting.com/topic/4389992-interest-only-loan-advise/#post-4569567 Fri, 22 Jun 2007 21:30:01 +0000 Hi Vanessa,From a lenders viewpoint, if you're buying an investment property they are ok with Interest Only. If buying an owner occupied, they would prefer Principal & Interest although they will allow Interest Only for a time – say 5 yrs max.If you get into borrowing bigtime, cash flow becomes critical & that's why a lot of investors prefer…[Read more]

]]> 8dd539b652e515a41ff7e75b0f639dc0 pilihp replied to the topic when to refinance? in the forum Finance https://www.propertyinvesting.com/topic/4389999-when-to-refinance-2/#post-4569590 Fri, 22 Jun 2007 21:19:23 +0000 Hi voigtstr,You can use the existing equity in two different ways to buy another property.The conventional way is to refinance the existing fixed rate loan to the maximum LVR ING or another lender will go to. Some lenders will allow you to borrow 100% in certain circumstances. ING being on the conservative side of lending may only let you go to…[Read more]

]]> 0898f32cb6a5e29191212bc5c98001ca pilihp replied to the topic HELP! Bank won't release my equity after I set up a LOC portfolio loan, Why? I Don't want to x-collaterise. in the forum Finance https://www.propertyinvesting.com/topic/4389779-help-bank-wont-release-my-equity-after-i-set-up-a-loc-portfolio-loan-why-i-dont-want-to-x-collaterise/#post-4568317 Fri, 01 Jun 2007 09:57:38 +0000 Hi Abbruzzi,Suggest you go to a local mortgage broker who will deal with a different area of St George & get you the result you are looking for at no additional cost to yourself.

]]> 1f4ffed838214ed5bbb47f858b21eff7 pilihp replied to the topic Litlle info on the trusts in the forum Finance https://www.propertyinvesting.com/topic/4389762-litlle-info-on-the-trusts/#post-4568250 Thu, 31 May 2007 10:16:51 +0000 Hi BinH,Trusts are extensively used for a variety of reasons. You need to get professional help from an Accountant or Solicitor that has the relevant experience if you are going to consider the benefits compared to the costs.

]]> e0a66d8c8949a172157edc40f25b712e pilihp replied to the topic Ratebusters.com.au - opinions please. in the forum Finance https://www.propertyinvesting.com/topic/4389759-ratebusters-com-au-opinions-please/#post-4568233 Thu, 31 May 2007 10:07:37 +0000 Hi winvin23,If you're looking for interest rates less than 7% ongoing you won't have much to look at. I know the Advantage Finance product (it's a wholesale lender called Challengers loan) & is worth considering. It does not have a 100% offset but who needs a 100% offset if you can pay extra into the loan, redraw any extra amount for no fee & see…[Read more]

]]> b18e69077b3cf40a8c4f2936934aecd5 pilihp replied to the topic ideas for raising or borrowing deposit funds in the forum Finance https://www.propertyinvesting.com/topic/4389761-ideas-for-raising-or-borrowing-deposit-funds/#post-4568249 Thu, 31 May 2007 09:45:31 +0000 Hi Rob,It's possible to borrow 100% on investment properties in certain circumstances. That leaves the legals etc to find. If you can't afford any expense you have to ask yourself the wisdom of investing in something that is likely to make financial demands on you.

]]> f68328ff116fd65e7c7534cee9eed46a pilihp replied to the topic Got bad credit, but need small loan in the forum Finance https://www.propertyinvesting.com/topic/4389766-got-bad-credit-but-need-small-loan/#post-4568256 Thu, 31 May 2007 09:41:20 +0000 Hi Istreet,Think yourself lucky you are only being charged 19% pa. The costs involved in establishing a new loan would outweigh any benefit of a cheaper interest rate on such a small amount.

]]> 71dce7e96a34f01e4a924a7a7a6da660 pilihp replied to the topic A question for the mortgage brokers... in the forum Finance https://www.propertyinvesting.com/topic/4389722-a-question-for-the-mortgage-brokers/#post-4568083 Thu, 24 May 2007 22:25:43 +0000 Hi Liz,If you get stuck, try using Scenario on the Broker Resource website (http://www.thebrokerresource.com.au).

]]> 1da4efcab578e41988fa84c60e2d5ab2 pilihp replied to the topic Lodoc from 'New Loan' in the forum Finance https://www.propertyinvesting.com/topic/4389632-lodoc-from-new-loan/#post-4567742 Thu, 24 May 2007 22:05:43 +0000 Hi J C,There are a few low doc lenders that don't insist on an ABN. You can call yourself a consultant, contractor etc and as long as you have a clear credit record, you will be able to borrow at normal rates for the product.As in the other posts, take care with loans that allow you to capitalise interest. They are in common useage & I suspect…[Read more]

]]> a4a1212dc44907692b2513e1c6158394 pilihp replied to the topic Bank bungle causing a headache in the forum Finance https://www.propertyinvesting.com/topic/4389690-bank-bungle-causing-a-headache/#post-4567937 Thu, 24 May 2007 21:52:14 +0000 Hi Martin,The banks get a  bashing at times because they deserve it. This is a classic case of not being able to serve two masters. If your bank lender's first priority is their job, they will try to keep the boss happy and follow bank policy to the letter. If you use a broker, they will try to keep the client's interest to the fore knowing that…[Read more]

]]> 603d90c2ff8d277b91055c049aee0e15 pilihp replied to the topic How Equity Works in the forum Finance https://www.propertyinvesting.com/topic/4389689-how-equity-works/#post-4567932 Thu, 24 May 2007 21:46:04 +0000 Good Morning Breammaster,If you have enough equity in the first property, you don't need to use the second one as security just because you are buying it.You also need to consider your position in the future. You may have to use both as security with a view to getting one or the other released when you have sufficient equity in it.

]]> dc0fdee707d70c9bd28949c042b46fbf pilihp replied to the topic Risk of not mentioning some debts when applying for a loan? in the forum Hi ShowBiz, I agree with the https://www.propertyinvesting.com/topic/4389563-risk-of-not-mentioning-some-debts-when-applying-for-a-loan/#post-4567502 Fri, 18 May 2007 21:28:04 +0000 Hi ShowBiz,I agree with the comments that your friend should get some advice from a Mortgage Broker. Most brokers will tell you exactly how much you can borrow in your present circumstances. If your friend does manage to borrow more than she would normally have by non disclosure some of the protection she would normally get by way of the consumer…[Read more]

]]> 9e2bbad686e1b683583d479538d23e56 pilihp replied to the topic finance on the valuation in the forum Hi Watson01, Most low doc / https://www.propertyinvesting.com/topic/4389645-finance-on-the-valuation/#post-4567784 Thu, 17 May 2007 11:34:25 +0000 Hi Watson01,Most low doc / no doc lenders will insist on an independant valuation. Most valuers will only value at what you are paying & the lenders will ignore a higher valuation if you manage to get one. You have to work out a way of getting the property into your name first, then lenders will give you credit for your buying skills.

]]> 60b76b0754e355bb17c33a8c496911ec pilihp replied to the topic bank finance without a job in the forum Hi Rob,You don't need a job https://www.propertyinvesting.com/topic/4389651-bank-finance-without-a-job/#post-4567805 Thu, 17 May 2007 11:29:18 +0000 Hi Rob,You don't need a job to get a loan if you have equity and are willing to use it.If you have a clear credit record, you can borrow up to 70% of value at normal bank rates on a No Doc loan. The rent will pay the loan or loans.If you have a lousy credit record you will pay higher interest rates and fees.Ring a mortgage broker in your area or…[Read more]

]]> 60798d276305f3c47a00ad91afecde62 pilihp replied to the topic Becoming A Broker? in the forum Finance https://www.propertyinvesting.com/topic/4389649-becoming-a-broker/#post-4567794 Thu, 17 May 2007 11:22:30 +0000 Hi ScottyTav,Anyone you talk to is going to be biased one way or the other. having said that, I've been a broker for years and would not do anything else – I don't do it for the money, more the personal satisfaction I get from a service industry environment.Starting out you need to get experience & ideally work with others that know the ropes. You…[Read more]

]]> 79f906b827583d2a25bf55b2c17880e6 pilihp replied to the topic Which Loan? IO or P&I in the forum Finance https://www.propertyinvesting.com/topic/4389604-which-loan-io-or-pi/#post-4567650 Thu, 17 May 2007 10:58:45 +0000 Hi Purple,As you point out, there is not much difference in the monthly repayment between an Interest Only loan and a Principal & Interest one over 30 yrs. The tax deduction for interest paid will vary only slightly over time if you pay minimum repayments on the P & I loanThe lvr you borrow will be dictated by your circumstances. I can't think o…[Read more]

]]> f688cac6e33581661931d39119d5313c pilihp replied to the topic Interest Only Loans in the forum Finance https://www.propertyinvesting.com/topic/4389626-interest-only-loans-17/#post-4567710 Thu, 17 May 2007 10:48:33 +0000 Hi Steddi,Most loans have interest calculated daily and charged monthly. If the loan is Interest Only then you are charged the interest rate multiplied by the principal outstanding divided by 365 for each day. If the principal remains the same for the month then you multiply the no of days in the month by the daily rate. If you have repaid…[Read more]

]]> 0459e64529efb9a943cd68bcfe55c8b6 pilihp replied to the topic Second Mortgage in the forum No Subject https://www.propertyinvesting.com/topic/4387913-second-mortgage-5/#post-4559878 Fri, 12 Jan 2007 23:11:51 +0000 If you are buying an IP you will normally have a deposit saved or use equity in your home for the deposit and borrow ideally no more than 80% against the value of the IP to avoid paying Lenders Mortgage Insurance.
The type of loan product used is not as important as getting the basics right. Keep any borrowing for the IP separate from your own…[Read more]

]]> 42ba505ebec958cfbce0981b76f44cf5 pilihp replied to the topic I love grandma in the forum Help Needed! https://www.propertyinvesting.com/topic/4387874-i-love-grandma/#post-4559674 Fri, 05 Jan 2007 23:52:16 +0000 Hi,
The LMI issue is worth investigating – this is “dead” money paid to a bank to fund their insurance premium, not yours.
The actual LMI premium charged depends on the LVR (loan to value) ratio, the insurance co used, whether you have 5% genuine savings and who the lender is (there are different rate scales for different lenders).
The lower the…[Read more]

]]> b15c843812113e5a71cda17e5582f23f pilihp replied to the topic Line of Credit or Xcollateralise? in the forum Finance https://www.propertyinvesting.com/topic/4387819-line-of-credit-or-xcollateralise/#post-4559385 Wed, 03 Jan 2007 03:14:32 +0000 Keeping things simple is usually the best option.
If you currently have a freehold property, give this title together with the one you’re buying to a lender who will do a no doc loan / loc.

Philip Limbert
APM Finance Pty Ltd
lihp@adam.com.au

]]> 5d007314747f95c7b9b236b97a768728 pilihp replied to the topic i know i can afford an i.p. but the bank doesnt in the forum Finance https://www.propertyinvesting.com/topic/4387693-i-know-i-can-afford-an-i-p-but-the-bank-doesnt/#post-4558756 Wed, 03 Jan 2007 02:52:08 +0000 I’ve just noticed your query and feel I may have something to add.
Some lenders will take negative gearing into their servicing calculations thereby giving you a larger borrowing capacity. Based on the limited detail you have given re your circumstances, I believe it would be in your interests to explore this option if you are still wanting to…[Read more]

]]> 8a79ac52c3cd612fee1c37f4d919d507 pilihp replied to the topic How about this for an idea? in the forum Help Needed! https://www.propertyinvesting.com/topic/4386585-how-about-this-for-an-idea/#post-4553567 Sat, 26 Aug 2006 22:06:29 +0000 Hi,
If your object is to increase your income by buying cash flow positive investments or even trade properties, I don’t see the point of either strategy mentioned.
If you sell your property to an investor and rent back, you will incurr selling costs and your rent will be greater than the minimum commitment on a $80,000 mortgage. The only thing…[Read more]

]]> 9708f3c8da4fa0b2b60065ff87597ead pilihp replied to the topic Youngster with abit of knowledge, but bad credit! in the forum No Subject https://www.propertyinvesting.com/topic/4386576-youngster-with-abit-of-knowledge-but-bad-credit/#post-4553526 Fri, 25 Aug 2006 22:36:16 +0000 Hi,
Your bad credit problem is only a problem firstly if it is actually listed on Baycorp NZ. If listed it then depends on the loan to valuation ratio required. If you are seeking to borrow 100% of cost or more you probably won’t be able to do the deal in your name. If you only want to borrow 80% then you may not have a problem at all. Its a…[Read more]

]]> f565d72a2ea54be541b6edd78b3a453c pilihp replied to the topic Line of Credit on first IP? in the forum Finance https://www.propertyinvesting.com/topic/4386582-line-of-credit-on-first-ip/#post-4553558 Fri, 25 Aug 2006 22:13:13 +0000 Hi,
A Line of Credit in many ways is the same as an Interest Only loan.
The Lender establishes a fixed amount available based on the security offerred (shouldn’t matter what property you use) & whether of not you verify your ability to repay. This fixed amount does not change until you apply for an increase if security available allows.

Philip…[Read more]

]]> ef5c753d7317fa5790d18b0004fc00b6 pilihp replied to the topic Development Finance in the forum Creative Investing https://www.propertyinvesting.com/topic/4386337-development-finance-2/#post-4552337 Tue, 15 Aug 2006 07:44:39 +0000 You should be able to borrow at least 40 – 50% of the current value of the land, either verifying your income or on a low doc basis. I would do it on a Line of Credit basis ideally that will allow capitalisation of interest until you reach your borrowing limit.
Providing your $200k value is correct you will have enough funds to complete the…[Read more]

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