Subject to the normal income / credit qualifications he would qualify with some lenders.CheersYours in Finance

Agreed Derek i skipped 1 and went straight to the grey hairs and wrinkles as my API photo can verify.CheersYours in Finance

No totally disagree it is just who you deal with in Credit.CheersYours in Finance

Agree with Michael it an NAB internal issue.Just settled a refi for a client who had a couple of IP's in Moranbah and both valuer and lender didnt have an issue with the Tenancy Agreement we provided showing the higher rental yield.CheersYours in Finance

Andrew agree although must admit November and December has been our busiest for 5 years with record numbers of Contracts arriving on my desk for both Brisbane and inter state.Either investors not too concerned about rates or better than me at predicting the falls.All we need now is lenders to actually pass on the reductions and that will be a feat…[Read more]

Ok will read and report back.CheersYours in Finance

Hi JackDid you get my email from last night about the revised rates?CheersYours in Finance

Hi PC77Firstly welcome to the fourm and i hope you enjoy your time with us.In regards to your first question you are certainly better off to consult an Accountant who can weigh up your requirements and recommend a suitable vehicle. Just educate yourself a little before you go and see someone as many clients end up buying a Trust structure and then…[Read more]

Hi GregHate to say funding the deal is not that easy and i have done 1 or two or a couple of hundred.Firstly getting standalone 95% lvr on single dwelling isnt going to be easy as the mortgage insurer will go through you with a fine tooth comb. The loan will be fully credit scored so you would want to stack up real good.Secondly you would want to…[Read more]

He has the advantedge of the hard data such as loan amount etc etc so very difficult for us to comment on specifics.I am still not sure why you would want to switch the loan product when you could merely go interest only with the mortgage simplifier. as there is no account keeping fees.Do an equity loan with redraw, place the new PPOR funds in…[Read more]

No definately not s there will not be any discharge or registration of mortgage for starters.ING have an Orange product which is their offset package and depending on the loan amount will have much the same interest rate as the Mortgage SImplifier. Your Broker wrong is misinformed.In saying all of this i am slightly lost as to why your Broker…[Read more]

Firstly welcome to the forum and hope you enjoy your time with us.Dont want to knock your current Broker but sounds to me like he has no idea on how to structure the loan to maximise your Tax deductions. it is not matter of merely refinancing and increasing the loan amount.Now as far as lenders are concerned the service levels with Suncorp are…[Read more]

Really i would have though Jamie was just as knowledgeable and Professional than anyone from Acceptance Finance.As Jamie has mentioned depending on the numbers looking at buying your wife's interest in the current property may well be a worthwhile proposition even given the potential Stamp Duty consequences.More hard data would be required however…[Read more]

Yes it all boils down to the "Purpose Test" to see whether the interest is deductible or not and not the type of loan or security offered.You coul;d take out the P/L and then at the same time apply for the Top up IP loan. As long as the funds from the IP loan are used to repay a debt where the purpose was investment the interest will be…[Read more]

Course Shock apologies sometimes we use acronyn's and expect members to know what we are talking about.Ask away.CheersYours in Finance

Good to hear the Manager of the largest Bank in Australia giving advice contrary to the ATO guidelines.Nothing amazes me these days ….You always do a personal loan and then apply for the top up to your IP loan to repay the P/L.That would be quicker and keep the interest deductible.CheersYours in Finance

Sorry for my tardyness in my lateness to respond to this question.Development finance is a whole new ball game but with past experience they should be able to borrow against the end value or Gross realisation net of GST. Serviceability is not necessarily an issue of the margins are right.In regards to whether they can purchase another IP in the me…[Read more]

Andrew website is http://www.allenrealestate.com.au/Phone # 1300 443 581CheersYours in Finance

Yes when i look at a working week i am amazed how many hours i spend reading things i already now or completing information on forms that clients never ever read.CheersYours in Finance 

Totaly agree with you.Same in the Financial Planning industry i find the number of selfish money grabing planners out there means if you do the loan correctly the financial planing work walks in the door.God we are gluttons for paperwork lolCheersYours in Finance