Hi Wilko

I agree it is a feature hardly worth mentioning these days as legislation has almost defeated the purpose.

Cheers

Yours in Finance

No Ian Citibank do not accept NRAS properties as security.

Cheers

Yours in Finance

Look hate to ever correct anyone who has responded to a post but just to clarify Yes you can invest in a Unit Trust or syndicate that in turns invests in a development etc.

Has to be done correctly but can be done.

Also in regards to the annual compliance cost of running a SMSF this needs to be outweighed by the Annual management costs of your…[Read more]

Thanks BGN very valuable 2nd post.

Derek, sorry noticed i missed one of your earlier questions.

No 90% is not the norm in fact far from it and only a handful of lenders who will go that far.

Happy to PM the lenders to you if you need them.

Cheers

Yours in Finance

Hi Mat

Don't want to appear negative but can you enlighten us why 'Finance will not be a problem for you' as the security is always of interest to potential lenders.

As Shahin mentioned even if you can finance the deal on-selling the property can often be an issue as you have to rely on the purchasers ability to be able to finance such a…[Read more]

Hi Shane

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

I think you need to first establish whether you can actually access the equity in either of the properties

In regard to the Brisbane property is the $50K current equity (difference between Bank valuation & loan balance) because if it is the amount you can access will…[Read more]

Hi Wilko

Hate to say being self employed i don't think you would have any chance as the lender is always going to want to ensure the current set of Accounts are upto date and sufficient to service the new loan.

Cheers

Yours in Finance

Hate to say any lender is going to require updated figures for any new borrowing.

Under NCCP even switching from P & I to an IO loan requires a Preliminary Assessment in order to be fully compliant.

Cheers

Yours in Finance

Hi Wilko

Yes certainly feasible and pre NCCP was done on a regular basis.

Now of course slightly difference under Responsible Lending Guidelines.

Loan would still need to be re-assessed under normal terms.

Cheers

Yours in Finance

Now how did i know you would say that lol.

Cheers

Yours in Finance

Hi Jack

Ok will see what i can do for you but are you sure.

Sun come out for 15 minutes this morning and then disappeared.
Only seen it twice since December.

Encouraging news is that it will dry for the rest of the week but max of 6 degrees !!!!

Back next week so can you make sure the heat is turned down a tad.

Cheers

Yours in Finance

Hard to comment without a bit more information on the actual numbers.

If merely reducing your repayments over the next 12 months is a goal then you could look at a 1 year fixed at 4.99%.
Doing this interest only would make a difference to your current expenditure.

Cheers

Yours in Finance

Yes further questions of such nature should be placed in the Overseas Section.

In saying this the posts would be best placed in the UK Forum 'Property Tribe' where you find people speaking the same language.

Whilst i have property in the UK and was born and bred here i find i am out of touch when i return.

Nothing like actually living here and…[Read more]

Hi again Wilko

Assessing a loan for a SMSF loan has no bearing on your personal liabilities.

Loan is assessed on a couple of things:

1) Your employer's superannuation contribution. (If S/E your average voluntary contributions)
2) If Fund is an existing fund the growth in the year.
3) The anticipated rental income from the property being…[Read more]

Hi Wilko

No hate to say it doesn't matter whether it is the same Bank or a separate lender.

Any guarantee you sign will be taken into consideration when assessing serviceability going forward.

Cheers

Yours in Finance

Where are you based HKR ?

Cheers

Yours in Finance

Hi Charlie

As Nigel mentioned i am in the UK for another week.

When i came last year we sourced over 20 properties for my Australian investors using a variety of UK lenders.

Unfortunately finance market has changed dramatically over here and there is now only 1 lender who will consider applications from Non Residents for BTL loans.

Minimum…[Read more]

LO / IC = Lease Options / Installment Contract.

Just bear in mind Prime come from the UK where you don't have to be Licensed to carry out such an investment strategy.

Cheers

Yours in Finance

Sorry Prime that is incorrect.

As the boys have already mentioned the claim will be proportional to the Title ownership.

Cheers

Yours in Finance

Jenny carrying on from what Shahin has put you have to understand that whether you are a borrower or a guarantor you will still be treated the same in regards to serviceability.

Whilst not all lenders charge a higher rate for lodoc loans (60% and less) bottom line is if you can provide adequate documentation for a full doc loan go this route…[Read more]