Sure not offered by every lender and expect a maximum lvr of circa 75%.You put in our cash first and lender will come in at the end.CheersYours in Finance

HI thereYes you are right that as long as you both feel comfortable in affording the repayments you should be fine. Course also factor in the added expense of Insurance, Rates etc.Whether a Bank or lender will agree with you is a different matter as they all have slightly different affordability models.As long as the useable equity is sufficient…[Read more]

I have just financed a deal for an Australian client buying in France at 4.25% fixed for 25 years but you wont find any overseas lender take a mortgage your Australian security.There are many other ways around it but as SNM has mentioned the Exchange Risk would kill you over time.Unless you decide to invest in overseas property you need to accept…[Read more]

Look at an alternative as there are a couple of options to go to 90-95% without paying LMI.Whilst it is a Tax deductible expense it is something where possible i would avoid or at least reduce.(Remember it will be cheaper to start again with a new lender and less LMI exposure than to use your current Bank whose exposure willl be the 2 loans added…[Read more]

Firstly hope you enjoy the move to Qld. Please dont tell everyone as we like to limit the weekly number moving up from Victoria.As Terry has mentioned you certainly could access some of the available equity but you need to remember there is a difference between usable equity and actual equity. If your current loan is not interest only loan you…[Read more]

As above.You would be suprised how many loans are declined on automated credit scoring often as a result of an overkeen or ill infoormed broker or Banker suggesting you just put in an application to see how it goes.Only other thing i would ever say is if you are buying an IP try a broker who has bought or owns one or two not one who is still…[Read more]

Derek agreed that is also why i suggested the loan should be interest only with 100% offset from day 1.CheersYours in Finance 

Hi AdamFirstly welcome to the forum and i hope you enjoy your time with us.Way i would probably structure the loan if you were a client is mine is:1) $200K Interest only loan linked to a 100% offset account.2) Investment line of credit to 80% of the purchase price less the existing loan in 1) above.You wouldnt pay anything for the Line of Credit…[Read more]

Streaker that is about right.CheersYours in Finance

Your Mortgage Broker on the loan side and your Acccountant for the buying entity.CheersYours in Finance

Henry hate to say this is definately not the case.Only reason you would commission your own valuation report is if the Banks figure came in less than you believed was right and you decided to have another done by a panel valuer and then have it assigned to the lender.CheersYours in Finance

Sounds to me like you are with the wrong lender.I cant say i have ever told a client they had to front up with cash to pay for a valuation.I can think of a couple of lenders who I merely order a valuation for my clients and if they dont come up to scratch we merely ditch the application with no credit search undertaken. CheersYours in Finance

Henry all depends on the lender.Some charge up front some dont charge at all.CheersYours in Finance

PM answeredCheersYours in Finance

Jamie we can only try.I was under the impression that an offset account could also be used as a buffer account for cash also but maybe i am getting old fashioned. Been a week or two since i last bought a property so might have been getting rusty lol. CheersYours in Finance

I didnt want to say you had NO chance at 95% as i was aware of one lender who would go to 85% for owner builders but as Miichael said anything over 75% iis a struggle.Do you really want to go through the hastle of transferring the property from your sister to you and the related expenses as has been mentioned. Course this assumes your sister would…[Read more]

It will also depends on who will build the property.If you are thinking of doing it yourself and considered an Owner Builder i think you have very little chance of getting 95% lvr.As Michael has mentioned for the higher lvr's you certainly need to have excellent credit, employment and score well.CheersYours in Finance

Yes it can and is.CheersYours in Finance

Hi KymYes your situation is one we get asked about on many ocassions from clients and one that there is no simple quick fix. If you intended to remain in the current PPOR for some years then certainly you could look to sell the uneuncumbered propertiies to a Unit Trust for 100% of the current market value and borrow the full amount. Your husband…[Read more]

Yes funds you have paid off the principal if it was a P & I loan or alternatively the equity created by the increase in capital growth.Most lenders are going to want the property revalued.CheersYours in Finance