Hi Tiggie

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

Look I don’t think financing this deal is going to be as hard as you think especially given the fact that you are renting out your current property. Subject to certain information it could be done as a bridging loan and all we would need to show is you can support the…[Read more]

Very few things in finance are advertised it is a matter of talking to credit and then putting the deal together with supporting documentation.

Cheers

Yours in Finance

Hi BrettRegretfully you cannot just transfer the equity from 1 property to another.What you could however do is:1) Look to purchase your wife's share (or vice versa assuming her income allows for this) in the current PPOR and then claim a Tax deduction on the interest once the property becomes available for rent. She in turn uses the funds to…[Read more]

Hi NoobI would be happy to send you a copy of the API interview i did which will give you some insight into how i acquired all of my properties and at the time i started was not earning the same as yourself (albeit that was 16 years ago).Your average Bank Financial Planner will have idea as they are paid a wage and told which products to promote.…[Read more]

Totally agree but be careful contacting a lender to ask them as i have seen it happen to so often.You make a quick enquiry on your serviceability and next thing they have undertaken a credit search.<edit>CheersYours in Finance

Hi CattsWithout knowing more information in regards to your Financial position, risk appetite etc it is impossible for any of us to make a suitable comment however I wouldnt suggest buying another IP merely because your tax deductions are falling.Look to buy the IP or other asset class because you believe it will give you a decent cash flow with…[Read more]

Hi StreamlineThe problem is that the variance between lenders is so vast these days and there are so many variable within each lender that anything meaningful by way of a excel spreadsheet is going to inaccurate.As a rule of thumb if you take1) Your net income and add2) 80% of the gross rent on each investment property (include new IP to be…[Read more]

Streaker i promise you they will not tell you it cant be done just 101 reasons why you would want to not do it that way.Then they will tell you if you cross collateralise the securities they can give you an extra 0.0001 discount and all will be sweet.Just ask the lending manager you see how many IP's he owns as that will give you a clue of whether…[Read more]

As Jamie has mentioned i cant see an issue with the 265K but i am not sure i would be putting any of your own cash fund in to fund the cosmetic renovation rather keep these up your sleeve for a potential PPOR down the track.Definately dont cross collateralise the 2 securities as your existing lender will love it. Personally i think i would be lo…[Read more]

At the risk of getting this post suspended for recommending a fellow forum member i dont think you could go far wrong by touching base with Nigel and look at his education program.That way you at least get knowledge from someone who has been there and done it.CheersYours in Finance

Going one stage further why wouldn't you look to buy a substantially positive geared investment in the Trust to counter balance the negative gearing on the PPOR.Our postive geared properties we released to clients from the UK were such a great success i shall be back in Europe at the end of July working on some more deals for clients. Will…[Read more]

jnb no not quite as easier as all that.I would have thought it would have been the other way round you Transfer the property to your husband's name, he then buys out your share and he increases the loan accordingly but there are potential CGT and Stamp Duty considerations to work thru.I would get the Broker who arranged your Homeloans Ltd loan o…[Read more]

Hi jnb
A couple of quick comments:

1) You mentioned that the new IP was purchased in Trust. You then say you are looking to negative gear the property. Hopefully you realise this in not possible inside a DFT.
2) Your former PPOR (now investment property) is negative geared yet the loan is a principal & interest loan. Should be an interest only…[Read more]

NAB retail.

Cheers

Yours in Finance

Hi WendyThere are a couple but more detailed data would be need to make a recommendation.Derek is bang. I always suggest to clients we work backwards. Secure the 80% standalone amount on the new NRAS IP and bridge the 20% balance and acqusition costs on your own PPOR. Just get your current lender to provide an equity loan or LOC and tell them…[Read more]

Cubeman Yes it was NAB and they like most majors have DUA thru QBE.Done it on many ocassion thru both QBE / Gemworth.CheersYours in Finance

Guys this question gets asked so often and i dont think you are heeding the warnings that Mike and I have been giving you.NO and i repeat NO overseas lender is going to understand or even care about the SIS legislation and the Limited Recourse Borrowing requirements.Simple answer No Australian lender is going to take overseas security and no…[Read more]

cubman sorry i have to disagree.Just done a 90% lvr for a client with 1 Years Tax return figures.All boils down to the strength of the application but can be done.CheersYours in Finance

BrissiegirlAs Jamie has mentioned Yes it certainly is possible but not every lender is going to allow it.Then of course you have the issue that whilst you may think it is worth a given figure the valuer may disagree. Most lenders use Valex which is a valuation exchange system whereby they plug in the property information and Valex randomly finds a…[Read more]

Hi WendyAs Jamie mentioned sounds like the 2 loans are cross collateralised and that is your initial issue.Second problem is the 70% lvr.Get your Broker to use a lender that goes to 80% on NRAS and you will not incur the LMI.Seems like an expensive cost because the lender is too lazy to get the structure right.CheersYours in Finance