Hi RayWithout any details on the project it is difficult to calculate the interest component or indeed the rate charged.To be honest 10% maybe too cheap if it is a fairly high lvr and Mezz finance is involved (You could almost double that).Interest will only be capitalised if you have pre-sales or can demonstrate that you can support the end debt,…[Read more]

Hi again CasscoAs mentioned a revolving line of credit facility can be drawn down and repaid and then redrawn again to suit your circumstances.Interest is only charged on the funds outstanding so if the balance is nil there are no interest charges.CheersYours in Finance

Wayne sorry mate who are Red Finance ?I would be concerned if you went to a property seminar and they were recommended.Keep your Mortgage Broker, property adviser separate and then there is no chance of conflict.CheersYours in FInance

Hi JanineDefinately contact Jamie and get is set up correctly.The ACT is only a good 3 wood away from Victoria (although not the way i am playing at the moment) but you can do everything over email / phone conversations.We own all of our properties in a series of DFT's but that is not for everyone and each clients circumstances are different.It is…[Read more]

As Jamie says they could be based in Timbuctoo (Assuming they were licensed) and as long as you feel confortable with their recommendation and level of experience there is no reason why you shouldn't use them.I settled a loan on Friday for a forum client based in Abu Dhabi and probably never going to meet.CheersYours in Finance

Yes as long as the rate and term on the LOC is competitive then dont have a problem going that route.You would use the LOC to access the deposit and acqusition costs and then get your Broker to arrange a standalone loan secured against each IP often with a separate lender to your PPOR.Wouldn't be paying down your IP loans if you still have a non…[Read more]

Duplicated postCheersYours in Finance

Hi MichaelFirstly welcome to the forum and i hope you enjoy your time with us.You start your post by saying you have taken out a loan of 90% lvr so i think the time for getting the structure correct might have been and gone. Firstly it will depend on whether your current lender offers such a product.Ignoring this what you have to understand is…[Read more]

Hi IanI am one of those Poms although have been living in Brisbane for the last 15 years or so.Manage to spend 2-3 months a year back in the UK and then the rest of the year in Qld and wouldnt have it any other way.I am from further South than Bristol but know the area fairly well and love the West Country.I was over there last year on a buying…[Read more]

Hi SundanceWhat they have told is you as absolute rubbish.Might be the Banks preferred way of doing it but certainly not the sole way and in your best interest.I hate to say knowing the speed CBA operate at i think it will be too late but i certainly would be uncrossing the securities before you buy again.CheersYours in Finance 

Well if the hybrid is a PPOR you would better off linking the offset account to the PPOR portion rather than a new IP.CheersYours in Finance

Drop me an email and I will email you my API article which sets out how we got started on portfolio.CheersYours in Finance

Hi DeanFirstly welcome to the forum and I hope you enjoy your time with us.Yes certainly Interest only with 100% offset is the ideal way to go subject to a couple of provisions.Had an enquiry from a forum client only last week with the same question and when we looked at their likely disposable month income post expenses the amount available to…[Read more]

Sundance implications of C/C can be considerable. I am sure the CBA would have disclosed them to you. I am unsure why they did not loan against your own cash rather than your PPOR.If you are close to retirement and will be in pension phase you might want to seek Accounting advice before deciding to sell any of your current properties.CheersYours in Finance

Hi KarenThat is like saying how long is a piece of string and without hard personal data it is impossible to provide a structured answer.CheersYours in Finance

Hi figureFirstly welcome to the forum and I hope you enjoy your time with us.i am with Terry be very wary of any Professional who happens to share his office with an Accountant, FInancial planner etc. They spin you the yarn that whilst you are in here being sold one of their overprices properties they can get their in-house mortgage broker to…[Read more]

Sorry Derek why would you encourage Sundance to pay spare cash into his investment loan that doesnt sounds like a very Tax savy strategy to me.Certainly the additional borrowed funds that were not taken up on Settlement should be paid into IP loan. These funds were surplus to requirements and therefore not Tax deductible if they have not been us…[Read more]

Wayne this broker seems to get better by the day !!!!!CheersYours in Finance

Honestly saw a client yesterday who had gone to Aussie the day before here in Brisbane for an investment loan.The Aussie adviser told the clients that he only joined them in February after being a mechanic for 10 years and still had the oil stains on his fingers. He may prove to be a very successful Broker but to me if you were thinking of…[Read more]

Unfortunately you get what you get with Aussie. Last week the adviser could be a plumber working on your dunnie the next week advising you on Trust structure loans.Ask you adviser how many investment properties they own and see if that matches your investment goals.Would you go to see a surgeon who had read the books, has done the course and…[Read more]