Agree with the boys comments above.As it stands you wont have a choice of what property you use as security as the loans are crossed all properties will be used.Not a great way to go forward.CheersYours in Finance

Hi JohannYes the repayment do seem a week bit high per month although i have to say that is typical CBA.I am sure you can do better elsewhere especially if the lvr is less than 80%.CheersYours in Finance

Hi DarrenFirstly welcome to the forum and i hope you enjoy your time with us.You say the loan needs to be Lodoc as all of your income goes thru the Company however there iis no reason why the loan cant be done full doc as log as we can follow the money thru the Company and wiith you being the sole Director / Shareholder.Of course if for some re…[Read more]

Hi SamFirstly welcome to the forum and i hope you enjoy your time with us.On the basis your former employment was also in IT i can think of a couple of lenders who might do the deal everything else being equal. Ideally though you would want to keep at 90% less LMI but other than that should be good to go.CheersYours in Finance 

Hi JacReason being is if you rent out your current PPOR and you have paid down the principal you cant claim the interest on the redrawn amount.I have had many clients who are so excited that they have paid down their own home loan and then decide to keep the existing property, rent it out and buy another PPOR only to find the new loan is non Tax…[Read more]

Hi JackSince the inception of the new Credit Act lenders have started to get a little more conservative with a clear reliance placed on serviceability both now and in the future. In addition any loan recommendation has to be on the basis that the product is not unsuitable for your requirements.You would be suprised how many deals i see where the…[Read more]

Agree with Michael 90% is doable everything else being equal.CheersYours in Finance

Hi SpyYes the appetite for the UK is growing by the day thanks to the strong Aus $.I am currently here in the UK sourcing deals in both the UK and France for my investor clients.We mainly specialise in repossessions or BMV for our clients who want the UK and leaseback properties for France.Big difference is we can finance our Aussie clients into…[Read more]

Have to agree with Alistair Nigel is on the ball when it comes to the US and offers excellent educational information.CheersYours in Finance

Hi NathanHate to be negative on your first post but you have NO chance in getting any US Bank finance such a deal.I am currently in the UK sourcing property deals here in England and in France for my investor clients and you would have more chance in financing a deal here than in the US.CheersYours in Finance

Good luck on finding a US Bank to finance a deal for you in the current climate.I am currently in the UK sourcing some UK and European properties for my Qld investors.We settled a deal In France for an Australian last week at an 80% lvr at 4.25% variable repayable in Euro's.The property is leased for the next 9 years and comes with immediate 20% e…[Read more]

Twafy also doesnt work for a PPOR if you ever decide to rent the property out….. and you woould be suprised how many clients decide to take that path.The few dollars a month your lender may charge for the offset account will made up several dozen times over the course of the loan.CheersYours in Finance

Hi markJust to correct your post Lodoc lending is still very much alive and well post NCPP.If it is done properly there is no real difference now to the position prior to Jan 1 2011. As i am away on holiday in the UK i will let others throw a few comments aroound in regards to the best place to invest.Certainly from a personal perspective i am l…[Read more]

Agree with boys comments above.As Alistair has mentioned there is no point in getting excited over a interest rate a GR loan when you find you are charged a 1% Application fee, Commercial valuation at $2500, renogotiating fees ongoing fees etc etc.You may have well gone for a 80% cost Resi loan at 7% with limited costs.Be suprised how many of the…[Read more]

Considering you will need for them to offer you a minimum of 10% plus costs (to get around the mortgage insurers requirement  that you have a minimum of 5% saved over 3 months) and wont be able to offer them anything but a 2nd mortgage after the lender has registered there mortgage i dont think you will find too many willing investors.Remember t…[Read more]

If it is your typical student style City apartment (We have similar in Brisbane) then i think you will be lucky to get 65% lvr let alone 90%.NAB wont touch them even if you are a gold customer at that lvr.CheersYours in Finance

Hi JayDepending on the sorts of questions you want to ask why not float a couple of questions on the forum here.$3000 buys you a lot of books to read and educate yourself rather than using a FP.Usually good test is to ask your Financial Planner how many properties he/she owns.Normally a FP wont make any money in recommending you buy an IP and w…[Read more]

NRAS at 90% has been doable since inception of the scheme.Serviced apartments and student accomadation are a different kettle of fish but if the rest of the deal is of the right quality miracles can be worked.CheersYours in Finance

What lvr are you looking for Ben.As Michael has indicated 85% fairly straight forward enough with the right lender and higher maybe possible.CheersYours in Finance

If the total construction price is $100K and you have financed a loan of $75K you will put your $25K in first and the lender will kick in once you have spent this amount.Bear in mind it will need to represent 25% of the current value and not a pre-payment of goods which are to be fitted at a later.Good lying around or pre-paid trades have no value…[Read more]