Paulie without appearing rude but shouldn't this be something your Broker should be providing you information on.If he is experienced in the SMSF space he will now exactly who to use.You say he is going with CBA so i assume he feels they are the best lender for your circumstance.Personally i wouldnt use either of the other 2 but thats…[Read more]

Yes Hank you are certainly are active on your own forum.It is just such a shame that when an outside member joins your forum you obviously dont like the competition so you ban them like little children.Thankfully here on PI investing Steve's website we are more mature and welcome accurate comments from outsiders as long as they dont join merely…[Read more]

I agree give Jamie a buzz and get it sorted properly.Think how much a mistake at your local Bank could cost you over the years when your Bank Manager has moved on and you are arguing about the loss of deductible interest to some spotty faced teenager.CheersYours in Finance

Hi MikeYes that is correct and that is why they schedule to see him on both days they are here.Alternatively even if you stay a second day the flight is still deductible but not the second day of leisure.Been doing it for a year or two.CheersYours in Finance

Hi NickI think Liberty would be the last lender i can think of I would ever do a SMSF Commercial deal with.Sure they have a place in the market but that is not one of them.CheersYours in Finance

There is no reason why you couldnt borrow 100% of the purchase price and offer your cash savings as collateral security.CheersYours in Finance

Hi OzlatYes indeed we deal with a couple of Credit repair companies and certainly depending on the depth of your issues could be an alternative.Personally i have hundreds of forum client in Melbourne and other parts of OZ. JacM is Melbourne based and she is a client. Hope she doesnt mind me saying so as it is not like the exclusive Millionaire's…[Read more]

Heh Jac big day today double settlement 28 days for finance you must have a good broker !!CheersYours in Finance

Yes sounds like it.CheersYours in Finance

Exactly as Terry stated.I cant see why you wouldn't prepare the Construction contract for the actual amount and do the deal as an owner builder.Might restrict your borrowing amount but at least you are not committing fraud by signing a contract at a higher figure with a view to increasing your loan amount. CheersYours in Finance 

The advent of the NCPP legislation has caused many Brokers to take this course of action as Terry has said due largely to increased compliance costs and reduced income.Personally we dont charge any upfront brokerage fee but believe we are a dying breed.CheersYours in Finance

Yes it is known as mortgage fraudHe also advised that contract should be for retail value of the build because that is the figure the valuers will use for lending purposes. The difference in actual build cost and contract value can then be used as a down payment at settlement. Does this sound feasible?Not an ideal way to start you business unless…[Read more]

Hi NHG1> Yes a credit search is done on all Lodoc loans. (Lodoc loans have nothing to do with poor credit applications).2> A Lodoc loan is not for clients with limited deposit and are aimed at self employed clients who are unable to supply normal Tax return documentation for the last 2 Years.With a limited deposit / equity you will not get a loan…[Read more]

All depends on the location of the property, the security type etc etc etc.Not every lender uses Valex or similar.CheersYours in Finance

Not for SMSF Com deals.CheersYours in Finance

I guess CBA for a SMSF Commercial deal is fine if you like paying over the odds on interest rates and application and ongoing fees.Personally i would never do a SMSF with CBA resi / commercial but your Broker obviously has reasons for doing so.CheersYours in Finance

Sorry lodoc loans are not an answer to poor credit.Whilst there are a few valuable contributions to date i would do nothing until you have a copy of your Credit report.You can order it from Veda.com.au.Without this you are wasting your time. Show it to your mortgage broker and see what options you have going forward.Then read and educate yourself.…[Read more]

Must admit i am not seeing it that much on purchases and if you do then i think i would be looking to get an alternative valuation or switch lenders. Get your Broker to order the valuation up front before you lodge the application so you dont fry your Credit record.CheersYours in Finance

Hi baydosFirstly welcome to the forum and I hope you enjoy time with us.If you want a face to face interview with a mortgage broker in Adelaide i am sorry i cant recommend anyone.In saying this most applications these days are lodged electronically and phone, email between Broker and client seems to be par for the course. I have 100's of forum…[Read more]

Agree with Terry personally would be doing it that way but i guess that is upto you and the advice your Bank / Mortgage Broker is giving you.CheersYours in Finance