No not a type at all.

Desparate times cause for desparate measures and you would be surpised what lenders will accept if it is a cash offer no questions asked.

Wont say it wasn't without headache dealing with a lenders legal department that doesn't answer correspondance but certainly worthwhile.

Deals like this are out there.

Cheers

Yours in…[Read more]

Ok have emailed you details as requested.

Cheers

Yours in Finance

Agree UP.

Mine was a Mortgagee repossession previous sale price $1,240,000 we agreed on $565K.

These are the sort of deals i like.

Cheers

Yours in Finance

Hi chas

Yes is available although depending on how short term may not be cheap.

Would need further details to provide more information.

Cheers

Yours in Finance

Hi Ailime

Sure would you like to drop me an email or PM me your email address and i will happily send you a copy of the article.

In regards to the loan structure you just about have it right.

Cheers

Yours in Finance

Hi Cha

Could have sold the property to your spouse, borrowed 100% of the market value and then claimed the entire amount as deductible interest.

Cheers

Yours in Finance

Course nothing like that would happen in Qld.

Well not for 10 years after it happened in the rest of Australia.

We have only just got rid of the white shoe brigade on the Gold Coast.

On a serious note just goes to show how sophisticated scammers are getting.

Cheers

Yours in Finance

Surprised he didn't bounce a bid off you.

Been to many an on site Auction where the lamp post or the nearest tree has bid.

Cheers

Yours in Finance

No maybe not but good luck in financing anything over a 60-70% max.

I am not sure why you would want too buy something like this in an area which has peaked when you could buy something in an area on the back up.

Cheers

Yours in Finance

Bish, the Reserve Bank of Australia have cut interest rates over the last couple of years as when they deemed fit to ensure the Australian economy carried on moving forward.

The difference is in 2012 is there is no corrolation between the RBA cash rate and the individual lenders variable rate.

Lenders fund fixed rate loans in a different manner…[Read more]

Look don't wish too appear negative but even at a 50% lvr under NCCP if you can't clearly demonstrate that you can support the loan and that there will not be any material change to your personal circumstances within the next 2 years you wont qualify for any loan let alone enough to generate a rental income of $1500.

Cheers

Yours in Finance

Hi Jon

Ok buying with friends or other parties can have issues especially when it comes to finance going forward.

Many lenders will only allocate 1/3 or 1/2 of the rental income that is received on the existing investment properties to the income side of your ledger whilst taking 100% of the current liability. This of course significantly…[Read more]

The other issue you might come across is if you go to another lender who uses Valex there is no guarantee they wont use the same valuer and you will be back to square 1.

Just make sure you go to a lender that orders a valuation upfront before doing a credit search otherwise you might have unnecessary credit entry that will affect your credit…[Read more]

Hi delbs

Can you drop me an email directly or Pm me your email address and I would be happy to let you have a copy of my API interview.

Cheers

Yours in Finance

Easy Joe

Cheers

Yours in Finance

Hi Joe

Certainly it usually involves short term financing to bridge the amount required to purchase the new property whilst you are selling the old property.

Assume you own a property with an estimated valuation of say $400,000 and owe the Bank $100,000

You want to purchase a new property for $500,000.

The Bank would lend you $500,000 giving…[Read more]

Hi merf

The CG has experienced a few problems over the last few years with softening valuations however there are some real bargains to be had.

I personally purchased one of my best properties on the CG last year and due to demand from investor clients have started to source property for rent or refurb.

Personally i would steer clear of Coomera…[Read more]

As Jamie mentioned getting your finance in order at an Auction is important but you also have to remember no lender will give you an iron clad formal approval on an Auction property so there is always an element of risk.

Talk to your mortgage broker who will probably have a few ideas to mitigate lot of the risk.

Cheers

Yours in Finance

Hi Joe

The issue comes in wanting to construct multiple townhouses.

Doing a single OB deal isnt a problem with the right lender.

Cheers

Yours in Finance

Hi Kaz

Sorry i have to disagree.

I do a fair number of SMSF loans and you would be surprised as to the difference in costs / interest rates between lenders.

The big 4 (Anz does not write residential SMSF loans) are out of touch when it comes to their charges and costs hoowever away from these lenders the competition is good.

Remember many…[Read more]