Jayr as has been mentioned borrowing on a 457 Visa can be done and in fact just settled a loan for a forum member on the same only last week.

Interest rates are the same as normal so at the moment you are looking at around 6.00% variable although as i have started in another forum post fixed rates are starting to fall.

Maximum borrowing will be…[Read more]

Forget fixed rates starting with a 5 they are starting to start with a 4 now.

4.99% fixed for 2 years effective tomorrow is getting very mouth watering.

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Yours in Finance

I am with Terry we would never leave insuring the property to the wrappee and always insure the property ourselves and then debit the loan account with the premium.

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Yours in Finance

Who are you currently using ?

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Yours in Finance

Hi Coota

All depends on who the lender is.

Some will do it for nothing others will charge.

Could be a lender that allows your Broker to do an upfront valuation without a hit on credit file.
If so that way he can order it for you and can work out what it possible prior to lodging an application of any sorts.

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Yours in Finance

As Terry mentioned although would need a lot more detail to be a bit more accurate.

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Yours in Finance

Ryan sorry old mate you are incorrect there and i don't care how many times i say you legally able to borrow in your SMSF to purchase in the US, UK or any other Country under under S67A.

Been doing it since Sept 2007.

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Yours in Finance

Jac is half right.

You cannot normally access your Super until you are "pension phase" however if you can prove financial hardship you can access it at any time.

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Yours in Finance

Terry i was thinking the same thing.

Borrowing money from your own SMSF to undertake a small development in your own name now that sounds like something you average Bank would advise you to do.

Sect 65 (1) (b) will crusify you if you do this.

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Yours in Finance

For what part of the advice ?

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Yours in Finance

WC why did you need the valuation?

If it was for additional borrowing then always look at another valuation firm.

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Yours in Finance

Hi Ben

Trouble is you need a combination of equity or cash deposit and serviceabllity.

Market has certainly changed over the last few years finance wise. Remember it was less than 48 months ago you could borrow 105% of the purchase price.

Whilst i am not saying this was a good thing i am merely pointing out that if you had the income (whether…[Read more]

Hi Mark

Coming in late in the conversation so will keep my comments brief.

Firstly Anz mortgage insurer will not approve an application where the deposit has been complimented by a personal loan so go down that track at your peril. Trouble is once you have lodged the P/L application it will be too late as your CRAA will reflect this and lenders…[Read more]

Ok Bendigo Bank that says it all.

Look without being funny it doesn’t suprise me the mortgage insurer said no because that is lending for you in 2012.

All things being equal i cant see it being too difficult to get over the line elsewhere.
Got a couple of similar deals on my desk from forum members and haven’t had an issue so…[Read more]

Terry see what a 4 letter word can do to you.

You have just been relegated to back to a "wisdom of other" badge with that statement lol

Bit like snakes and ladders.

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Yours in Finance

As Terry mentioned all things being equal i believe the deal could be done however of course it will depend on which mortgage insurer declined the deal.

Knowing a little more information and who your current lender is would make it easier to advise further.

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Yours in Finance

Hi Kerryn

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

I will only answer 1 of your 3 posts lol

Firstly $80K is not the minimum amount you need to purchase a property inside your SMSF although you would be suprised how many branch lenders would have no idea how to a deal inside a SMSF as it is a specialised Credit area…[Read more]

Normally would agree with Terry but most lenders we use have a minimum loan of $100,000 although i have actually done a deal or two on a low lvr at a lesser amount than that.

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Yours in Finance

Kath

What sort of structuring advice are you looking for.

Remember an Accountant cannot give structured loan advice unless he is licensed to do so and most are not.
That is the domain of us Mortgage Brokers.

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Yours in Finance

Sure Michael

Can you drop me an email so i can reply or give me your email address.

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Yours in Finance