Must admit i would use Bank West as my lender of last resort.

Doing a top up with them at the moment for a forum member and i cannot believe how cumbersome the process is.

If it wasn't in the clients best interest to do so i would be refinancing he whole deal and starting again.

Cheers

Yours in Finance

As Terry mentioned LOC normally brings with is a slightly higher interest rate but i would push for the equity loan and then have the funds paid back into the loan on settlement or set up a separate offset account linked to the separate loan.

Cheers

Yours in Finance

Hi Rosa

No i hate to say NO as Scottish and Irish lending legislation is totally different again.

This only applies to properties in England and Wales.

Cheers

Yours in Finance

Or alternatively take the stress and strain out of getting it wrong and contact Jamie and get a Professional on your side.

Cheers

Yours in Finance

Hi boys bit of an update on UK Financing.

They say a week is a long time in politics but no where near as it in UK financing where things can change quicker than the weather.

We have now had confirmed and actually had a deal approved already from a UK lender lending to a UK Citizen living and working here in Australia but wanting to buy back in…[Read more]

Bronte, ask them why they only recommend new House & Land packages.

As Nigel mentioned it is because they can hide their commissions which can be 30K upwards.

They will give you the 'buy new and maximise your Depreciation / Capital Allowance deductions' spiel but remember you get the same deductions on something that is 6 months old without the…[Read more]

Fire be surprised how many I have from investors this week alone all interested in the 100% loan product.

Cheers

Yours in Finance

Totally agree with Jamie but reading the initial comment i hate to say i don't think the submissions have been accomapanied by comprehensive notes detailing the merits of the submission.

Cheers

Yours in Finance

Hate to say Barclays International will only consider the application where your salary is paid in GBP.

Cheers

Yours in Finance

Absolutely bang on Nigel.

Don't chase the golden egg from Day 1.

Be patient, educate yourself, use the services of relevant Professional and learn along the way.

See so many investors who do a small refurb who then for their next project want to go and build and develop a 10 storey unit block.

They would better of being part of a smaller group…[Read more]

Only concern with AMP is 90% + a higher rate kicks in.

Cheers

Yours in Finance

Hi Tim

It is a not merely a matter of getting it over the line because of the lack of credit scoring.

You need to establish the reasons why the deal has been declined i.e short employment / residency history, existing liabilities etc etc and then look at the positive attributes.

i would be looking at the mortgage insurer behind the lender who…[Read more]

Fire, why not gie Jamie a buzz and see if he can't order a valuation on your current property (assuming your current allows this) and then he could look at setting up the sub loan to 90% of the current market valuation.

There are a couple of private lenders who will look at 100% loans for investors with a blended portion of traditional and…[Read more]

Similar to Daryl.

Put the Nundah Bowls Club under Option subject to a DA and paid less than a $1M.
On-sold the Option for $2.25M subject to our buyer getting his DA.

Our buyer exercised the option and told us they would be settling.

Little did we know that they had actually on-sold the Option to another buyer for an extra $1M who ended up…[Read more]

Yes sounds like the Broker has re-written the Contract for the first loan as well and Yes it does sound as though they are crossed.

Nice work if you can get away with from a Broker or bankers point of view but not practical for an investors perspective.

Just look at the letter of offer from the lender and see what the security address is shown…[Read more]

I was going to say the same as Terry a simple Title search will give you the same information even tell you who their mortgage is in favour of and the limit.

Of course doesn't mean that the residential address or contact information is accurate.

Cheers

Yours in Finance
 

Hi Simon

Firstly welcome to the forum and i hope you enjoy your time with us.

As a Qlder i think an investment in the Sunshine State definitely make sense however just bear in mind the Gold Coast has been fairly battered in regards to price falls over the last couple of years.

We have a house on the water in Palm Beach (which we will probably…[Read more]

Thanks Darryl excellent update on the local market.

Cheers

Yours in Finance

Agree with Paul. Give Nigel a call.

Proceeding on the off chance is like driving down the Western Freeway with the window open and throwing dollar bills out the window.

Difference being when they have gone they have gone. With your property you will still be paying the Council Rates etc for many a year to come.

Cheers

Yours in Finance

Hi Young

Hope you got my PM response.

As i say at 90% should be fairly straight forward with the information you sent me.

Cheers

Yours in Finance