Hi Garry

Yes very true and not the first time i have heard this.

In saying this if you have a relationship at business banking level and your A & L is strong the deal should be able to be approved.

Course in saying this you are not paying mum and dad residential rates or set up fees and that is something some builders / developers don’t…[Read more]

Yes all of our loans are no more than 12 months using the purchased property as security.

Our rates vary between 12-18% on 1st Mortgages dependant on the location of the security etc.

Cheers

Yours in Finance

We do a lot of this type of business for property developers and flippers and is done thru our Private lending arm.

Settled one yesterday for a forum member who only needs the funds for 60 days when their reno will be complete.

Usually max lvr on the property security is circa 70-75% lvr so you might have to use your O/d for the balance and reno…[Read more]

Jempire, We go to 80% lvr on 2nd RM especially if you have sale contracts in place.

Would need more information but feel free to email me and we can certainly look at the deal as we are based in Brisbane.

Cheers

Yours in Finance

Hi Kam

Tried to call you this morning to discuss without success.

Sent you a text so call me when you are free.

As a Private Lender we do a lot of these deals each week.

Cheers

Yours in Finance

KGV, why not do it as a Nodoc Non coded loan (No income evidence required) using your PPOR and the project as security.

Rate will be higher but you will retain 100% of the profit rather than sharing it with another partner.

Cheers

Yours in Finance

Kevin you won’t find any online lender interested in doing a small development finance loan let alone one that will provide funding for subdivision costs.

Unless you have equity in your PPOR you won’t find a lender advance against soft cost (i.e Council fees, contributions, architects etc etc) on a small subdivision.

On the small side of…[Read more]

Hi Keith

In Qld there is no legal requirement as to time frame when a contract needs to be presented to a seller.

Signing a buyers declaration means nothing. If your offer is the only one and they want more for the property they can always counter sign your contract and see what you say.

Sounds like the agent has no idea. Good…[Read more]

Hi Kosta

Yes there are certainly lenders who will take her full return to work income when calculating servicing.

Letter from the employer confirming details etc will certainly help.

Cheers

Yours in Finance

It is actually worse than that with some Westpac fixed loans going up by 110bps for investors especially in the SMSF space.

We are getting hammered in demand on our Nodoc SMSF product as more and more investors find they can’t invest in Super when they want to.

Cheers

Yours in Finance

It is actually worse than that with some fixed loans going up by 110bps for investors especially in the SMSF space.

We are getting hammered in demand on our Nodoc SMSF product as more and more investors find they can’t invest in Super when they want to.

Cheers

Yours in Finance

Anz have also just announced an interest rate increase on all of their interest only loans whether the property be investment or owner occupied.

Looks like P & I is definitely getting cheaper by the day.

Cheers

Yours in Finance

Yes Charles

Cheers

Yours in Finance

VF a lot easier to get over the line than having multiple tenancies.

Cheers

Yours in Finance

Jaxon are you referring to a VF style deal ?

Cheers

Yours in Finance

PT18 Why would you use your own cash from the offset to keep the lvr under 80%.

You would be better off to reduce the principal balance on the PPOR by the equivalent cash amount and then increase the equity sub loan by the same amount.

That way the interest becomes Tax deductible whereas had you used your own cash to keep the lvr down the Tax…[Read more]

PT18 Why would you use your own cash from the offset to keep the lvr under 80%.

You would be better off to reduce the principal balance on the PPOR by the equivalent cash amount and then increase the equity sub loan by the same amount.

That way the interest becomes Tax deductible whereas had you used your own cash to keep the lvr down the Tax…[Read more]

Hi Tom

Emailed you yesterday so have a read.
Not an issue in getting the deal done with another lender it is just the rate of interest etc.
Problem being is that both your current home loan and equity loan would end up being charged at a higher rate of interest than you are currently paying.

If it was just the new investment property loan then…[Read more]

Hi Tom

Emailed you yesterday so have a read.
Not an issue in getting the deal done with another lender it is just the rate of interest etc.
Problem being is that both your current home loan and equity loan would end up being charged at a higher rate of interest.

Hope this helps.
Cheers

Yours in Finance