Very true PaulieWe see mistakes made every day of the week and even more importantly advice given by Bankers in regards to the name on the Contract. The Security Trustee also need to show the property details so often the Bare Trust is formed based on the fact the buyer believes the seller will accept his offer and then funds it does not pro…[Read more]

Probably minimum loan $50K for a residential deal but the costs dont change.CheersYours in Finance

Hi MorgstarHate to say that is not the end of it.As Terry has mentioned Bank application fee, lenders legals and Security Custodian Deed persual could easily come to another $3500 and you will not get an 80% lend in Orange.CheersYours in Finance

Good for you.You will be in great hands with Jamie and have someone you really wants to get to know your requirements and act in your best interest.CheersYours in Finance

Hi JefHate to say you wont find any lender touch such a deal with a barge pole.The SMSF will be a Unit holder and will need to be a party to the loan. Under SISA it cannot do so.CheersYours in Finance

Hi XuxuFinanced many a similar situation and it can work well but as long as you understand the potential issues.The initial Title to the land will be in joint names and so will the ongoing construction loan. This means that both of you will be party to the loan and jointly and severally liable for the entire debt.Once construction has been…[Read more]

Heh NathI am standing by waiting and have my fingers crossed for you.CheersYours in Finance

Great lender switches product without explaining consequences.Mhhhh let me guess who it was.CheersYours in Finance

Yes exactly but make sure you dont cross collateralise the 2 loans.6.52% will no doubt be 6.62% post last weeks rate increase.CheersYours in Finance

Jamie has answered the question clearly and that should assist you however i would have to add i am not aware of too many cards that allow 55 days interest free on cash withdrawals.If you have changed it to a Line of Credit then hopefully your lender explained the tax consequences.Not ideal in my opinion and more expensive anyway.CheersYours in Finance

At that level probably paying around 6.35% post lender increase this week.CheersYours in Finance

MarcusJamie is being far to polite.Do not use a Broker recommended by the Selling Agent. Honestly do you think it is in that Brokers interest to be acting on your behalf or his mate the local agent. One thing is for sure the property wont be downvalued as he will make sure that is the case or he wont get any further business from that referrer.I…[Read more]

Yes it is fine as long as it is structured correctly.CheersYours in Finance

Yes it can with some lenders.Most of the majors it will have no bearing but a lot of others Yes it can.We use a mix of variable / fixed rates for clients with a number of properties if serviceability is an issue.CheersYours in Finance

Exactly – some lenders will take the actual repayment rather than a sensitised repayment but the fact that you fixed the rate would not get a mortgage insurer to approve the deal if serviceability wasnt an issue.CheersYours in Finance

Has no bearing whatsoever on the deal being assessed.CheersYours in Finance

Hi NickWelcome to the forum and i hope you enjoy your time with us.It will all depend on who your current lender is.With some it is a simple project switch form whilst with others it is a full on application and being on probation could cause a problem.All being equal a credit search if required will not be a problem going forward.CheersYours in Finance

Must admit i a not aware of any traditional lender that will finance normal ratios on a 28 sq M unit.Just had 1 back that was only 32 Sq M internally at 17 lenders declined it with 1 saying they would do 70% only.This was CBD Melbourne.CheersYours in Finance

Mat i agree with JamieInterest only with 100% offset will at least give you an option should your circumstances change in the future.There are some excellent 100% offset products out there at the moment without all of the normal Bank fees and charges.CheersYours in Finance

Hi WadeIf it is a 5 x 2 and you are constructing them that is different.Most lenders will treat that as a Comm deal.You wont have the option of going for 2 loans as you have single Title.CheersYours in Finance