Many lenders have already filled their Settlement bookings and are struggling to take additional ones.

Just because the loan is unconditionally approved and the Letter of Offer and Mortgage Documents have been issued there is no guarantee that the lender will be ready to settle when you want.

As Terry mentioned the Bank are not a party to the…[Read more]

If you are referring to FOFA whilst most of the reforms came into play from July 1 2012 they are voluntarily upto 1 July 2013.

Cheers  

Yours in Finance

Yes and Yes not a nice position to be in this time of year.

I would be getting your Solicitor to be liaising with the Vendors solicitors as soon as possible as you don't want too risk loosing your deposit.

Get immediate legal advice.

Cheers

Yours in Finance

Hi Ben

In Qld a quick Title search thru The Dept of Natural Resources will give you the registered owners details.

Cheers

Yours in Finance

At $1M on a Commercial property at a 50% lvr you should be able to get a half decent rate at the moment

Hate to say that is not the case with shares or bonds at the moment as neither loans have come down much wiithrecent RBA cuts.  

Cheers

Yours in Finance

Hi Carlio

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

I cannot see why you wouldn't buy your first PPOR in joint names as Jamie mentioned as you will need to utilise the equity in the property for your future IP projects.

In saying this you will need to ensure the PPOR loan is set up correctly from day 1 to avoid any issues…[Read more]

Terry are we talking NAB Retail as if so the maximum at 95% lvr is $1.5M.

They have DUA with QBE to a maximum of $2.5M and 95% however you won't get Credit to approve anything over $1.5m

Homeside is different although of course they use Gemworth.

Cheers

Yours in Finance

A couple of lenders will do 85% at varying interest rates and charges.

Cheers

Yours in Finance

PFranky

Don't worry you are not alone with Anz as non of the major lender now offer a refund on your LMI premium.

Cheers

Yours in Finance

Hi Terry

They used to but hate to say those days have gone.
QBE put a stop to that.

Cheers

Yours in Finance

Hi Aloha

Yes you can certainly borrow 100% of the construction price subject to a few variables however i would probably suggest that you borrow say 80% of the initial site price and keep the balance in an offset account initially.

This will give you flexibility when it comes to the construction.

Also remember if you knock down the existing…[Read more]

Next thing we will be hearing that a SMSF can invest in a luxury car such as a Bugatti Veron and use it on weekends only as long as you clean before it goes back.

Cheers

Yours in Finance

Hi Nat

Hate to say Thomas seems to left the forum.

Probably gone off to sprook his wares elsewhere.

Funnily enough financed one for a client a month or two back.

Cheers

Yours in Finance

For Phil's benefit the Isle of Wight is off the East coast of Lymington in Hampshire and certainly is part of the UK.

You could always look at lending the funds to a Company that specialises in secured funding or 2nd mortgages.

Currently probably earning 10% per annum.

Cheers

Yours in Finance

HI Matt

Hope you are keeping well.

In Qld we prefer License to Occupy deals rather than Lease Options but in saying all of that you need to find a Vendor who will agree to such Terms and that is the hard part.

Of course you have to accept that you will pay a higher rate and a higher sale price for such a product.

We are hoping to launch a new…[Read more]

There are some excellent Commercial rates around depending on the security and the anticipated lvr.

Would need to know both before giving you an anticipated rate.

Cheers

Yours in Finance

Hi Devilz

Yes hate to say you are right.

The properties are cross collateralised and not ideal for going forward in regards to your investing future.

Of course with a fixed rate your choices are limited.

Would have suggested a fixed rate with 100% offset account but of course easy to wise after the event.

Cheers

Yours in Finance

Hi Devilz

Yes you can certainly transfer the equity from one property but i can't really see any real reason for doing so.

It won't benefit you Tax wise as the interest will still be deductible.

Only benefit would be if the properties are cross collateralised and you want the securities to standalone.

This certainly would have some…[Read more]

Hi Devilz

Yes you can certainly transfer the equity from one property but i can't really see any real reason for doing so.

It won't benefit you Tax wise as the interest will still be deductible.

Only benefit would be if the properties are cross collateralised and you want the securities to standalone.

This certainly would have some…[Read more]

As Jamie mentioned do your own research on the Investors Club as there are many responses out there.

In regards to their so called Independant Mortgage Brokers you have ask to yourself how independant they are when they are under instruction to get the deal thru irrespective of whether the property purchase price and valuation are a mile…[Read more]