Members & Visitors Online Right Now: 72
  • Richard Taylor replied to the topic LMI in the forum Help Needed! 2 days, 14 hours ago

    If you can’t come up with a 12% deposit then cop the LMI and move on.

    Tax deductible over 5 Years or the Term of the loan which is the lesser so you end up getting a portion back.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Non APRA rating guidline lenders in the forum Finance 4 days, 13 hours ago

    Because they are ADI’s that fall under APRA wing.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Non APRA rating guidline lenders in the forum Finance 5 days, 9 hours ago

    Yes both lenders you mention at present do not adhere to the APRA servicing guidelines.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Are you an investor based in Melbourne or Brisbane? in the forum General Property 6 days, 16 hours ago

    San you won’t find a property that will be positively geared in Brisbane with a 100% loan.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Need help – which structure should pay my income in the forum Finance 6 days, 16 hours ago

    Robbie yes received your email although as mentioned i am currently in Iceland with limited internet access.

    All lenders take a percentage of rental income (usually 80%) due to the fact you have expenses such as Council rates, insurance, strata levies etc deducted before the net income.

    In many cases lenders also cap the rental yield at circa…[Read more]

  • Richard Taylor replied to the topic ANZ OO Interest Only LVRs in the forum Finance 6 days, 16 hours ago

    Yes more and more lenders are tightening the noose.

    Be surprised how difficult it is to roll over to an interest only loan once your current IO Term expires these days.

    APRA is looking at further tightening this and many other areas of servicing when the introduce their new measures in the May report.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Are you an investor based in Melbourne or Brisbane? in the forum General Property 1 week ago

    What LVR ?

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Need help – which structure should pay my income in the forum Finance 1 week ago

    Sorry Robbie that is not correct lenders certainly consider rental income when assessing your serviceability for future loans.

    Many lenders merely take 80% of the Gross rental income and then deduct your usual expenses (assume you don’t have any loans against the properties) and your living expenses.

    I built a $30 M unencumbered property on…[Read more]

  • Richard Taylor replied to the topic Finding a team in the forum Help Needed! 1 week ago

    Don’t get caught refinancing for refinancing sake.

    Look to go back to your current lender and do an equity loan.

    If the lvr was initially > 80% then you will only end up paying LMI on the increased loan amount.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Are you an investor based in Melbourne or Brisbane? in the forum General Property 1 week, 3 days ago

    Hi San

    400K budget won’t get you much in Brisbane but there a few areas which might still be worth considering.

    As to whether the property will be positively geared all depends on your loan to valuation.

    At a 100% there is no chance but at 80% certainly possible.

    Course as you might be aware lenders starting to increase margins on investment…[Read more]

  • Richard Taylor replied to the topic Are you an investor based in Melbourne or Brisbane? in the forum General Property 1 week, 4 days ago

    Investor in Brisbane with a decent portfolio.

    What are you seeking.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Minimum borrowing with no proof of income? in the forum Finance 1 week, 6 days ago

    Yes it is possible as the loan will be in the name of the new business.

    Will be done as a Nodoc loan by way of 1RM against the security property.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Minimum borrowing with no proof of income? in the forum Finance 1 week, 6 days ago

    Yes it is possible as the loan will be in the name of the new business.

    Will be done as a Nodoc loan (No income evidence required) by way of 1RM against the security property.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Minimum borrowing with no proof of income? in the forum Finance 1 week, 6 days ago

    Yes it is possible as the loan will be in the name of the new business.

    Will be done as a Nodoc loan (No income evidence required) by way of 1RM against the security property.

    Rate will be circa 7.00 -7.75% Per annum.

    Cheers

    Yours in Finance

  • Richard Taylor replied to the topic Where to invest in 2017 for first tme investors in the forum Help Needed! 2 weeks, 2 days ago

    Hi Shehan

    There are a number of investment strategies you can follow to increase your net wealth but where you start will depend on your own investment goals and amount of time you wish to dedicate to your investing.

    Whatever you do the main thing is to ensure your structure is sound and you have flexibility when it comes to financing.

    The…[Read more]

  • Richard Taylor replied to the topic HELP! Caught in negative gearing and refinancing strategy/trap in the forum Help Needed! 2 weeks, 2 days ago

    Hi Newbie

    It is crazy to sit back and wait for the in-house finance guys too come back to you when you have settlement dates pending.

    Another major lender pulled out of the investment refinance market yesterday to go with other lenders who had already adopted this tightening in credit policy.

    Do not wait. Get your father to act now and get a…[Read more]

  • Richard Taylor replied to the topic Family Trust Loan Amount and LVR in the forum Finance 3 weeks ago

    Hi Sing

    I have read that taking a loan out in the name of a family trust maximises serviceability, as I don’ take on additional debt in my own name.

    Regretfully this is incorrect. Guarantees are taken into consideration when calculating servicing.

    Cheers

    Yours in Finance

  • Richard Taylor’s profile was updated 3 weeks ago

  • Richard Taylor replied to the topic Family Trust Loan Amount and LVR in the forum Finance 3 weeks ago

    Hi Sing

    Couple of quick answers to your questions raised.

    When taking out the loan against our first IP (which is in my name), must this loan be in my name, or can the Family Trust take out the loan and let me authorise the use the equity of our IP as a guarantee?
    The loan would in the name of the Trustee for the Family Trust with you as…[Read more]

  • Richard Taylor replied to the topic Is this a Low Doc request or not? in the forum Finance 4 weeks ago

    Sounds like a fairly straight forward deal given the income is declared net profit.

    Remember GST has nothing to do with earnings but more to do with turnover.

    Cheers

    Yours in Finance

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