Hi Dloy

Would need to now about the rest of the application but initially a 90% lvr maybe possible on a 485 visa.

Cheers

Yours in Finance

When you say master facility i hope you are not referring to a line of credit.

Not aware off the top of my head any lender that calls its offset account a Master facility.

Cheers

Yours in Finance

Yes we are doing loans to 90% for 457 Visa holders on a fairly regular basis from our UK Client bank.

Did a loan for a UK forum member only last week.

Cheers

Yours in Finance 

Just to clarify Sharin's earlier post.

The cost of a Buyer's Agent is actually Tax deductible as it is added to the cost price of the property when calculating CGT in the event of a sale.

LMI is also Tax deductible over a 5 year period or the term of the loan whichever is lesser and proporitonal in the first year.

Subject to serviceability i…[Read more]

James at 370K that must have been the highest recorded sale in Ipswich for years.

I am not surprised the valuation came in short.

We do a fair volume of investor lending all over Australia and as long as you avoid the Gold Coast haven't had too many issues with down valuations.

I like both Toowoomba & Rockhampton and i am looking at a few deals…[Read more]

James at 370K that must have been the highest recorded sale in Ipswich for years.

I am not surprised the valuation came in short.

We do a fair volume of investor lending all over Australia and as long as you avoid the Gold Coast haven't had too many issues with down valuations.

I like both Toowoomba & Rockhampton and i am looking at a few deals…[Read more]

Sure Ella feel free to shoot me an email with the numbers break up to start with and we can explore the options.

Cheers

Yours in Finance

Hi Bugeye

Your strategy is one we work with for forum clients all day long so is nothing new.

Structuring your current loan to ensure you create a sub loan is important as you want to separate the 2 loans and definitely don't want to cross collaterise the loans.

Other issue will depend on the lvr on your future Ip's.

Whilst the lender may…[Read more]

Hi Sam

Yes definitely you want to go IO especially if you have non deductible PPOR debt.

Issue of course would be the CBA serviceability model is a shocker and you will struggle to get CBA to agree to go to a 90% lvr without a defined purpose. 'Future investment' wont wash with CBA these days.

Cheers

Yours in Finance

Hi Owen

There are only 2 BTL lenders left who will consider non resident loans (Trust me i am in the same boat as you being a UK Passport holder who has lived here in 16 years) and you are looking at 35-40% deposit.

Minimum £100K loan rates not that friendly for the UK circa 4.5% fixed.

Cheers

Yours in Finance

No you are correct Anz would have absolutely no idea on the why's and wherefore's of uncrossing your loans and probably can't understand why you would want to do it in the first place.

They adopt the attitude if it is less security for the Bank why would you want do it and certainly if you do we would not want to encourage it.

You need to go…[Read more]

Hi Ella

As Terry has mentioned a Spousal Transfer could certainly be worth considering especially at the level of value you are talking about. I assume the current PPOR is your individual names?

Not sure which one of the Big 4 your loans are with however need to probably be careful when untangling to make sure you don't  end up in the same…[Read more]

Noise and inconvenience are one thing but there are many other considerations.

Are you buying for your own occupation or as investment property.

Have you considered the high body corporate contributions.

Looking thru the link i notice that a few of the Sellers were overseas which leads me to think they were probably sold over priced properties…[Read more]

The guys have seemed to covered all of your question so I wont repeat what has been posted already.

Only consideration would be on the finance side under NCCP the letter of offer from your potential lender would have expired after 90 days and therefore the deal may need to be re-assessed. If you had a change in circumstances or the lender has a…[Read more]

Hi Adrian

Typical broker answer but Yes / No.

Sorry about that but couldn't resist it. It all depends on what line of work you are in.

i have just completed a couple of deals for a forum client in IT and he switched a month or so ago now contracedt to 1 employer thru a Recruitment Agency but income has increased considerably so in IT is…[Read more]

Hi Sam

Difficult to comment without all of the other financial information but assuming you have no cash funds i think you will be limited to what equity you can access.

Most lenders will limit your equity release to 90% of their valuation so depending on whether the renovation has added much in the way of increased value will determine what you…[Read more]

Derek

Things must have changed in the West because in the rest of the Country some of the information we see clients provided with by their Bank or Banker still leave a lot to be desired.

Classic case this morning on a SMSF deal here in Qld where the Bank told the client to sign the purchase contract with 3 names as he yet formed the Security…[Read more]

Agree with Jamie don't think we have ever had a Broker from the West who has ever hung around for more than a day or so.

Most of us deal with clients all over the place and other than the time difference makes no difference where the client comes from.

Cheers

Yours in Finance

Yes you can but can still only claim the interest on the current mortgage of $200,000.

Wont make any difference on where you secure the new loan it the purpose that dictates the deductibility.

If the property is jointly owned a spousal transfer is worth considering depending on where the property is located.

Cheers

Yours in Finance

I did respond earlier but i don't know what happened to the post.

Definately look at interest only with 100% offset rather than principal & interest loan.

My question was is did you put down a deposit for the new investment property or create a sub-loan on your PPOR ?

Certainly sounds like the loan need a little bit of…[Read more]