Hi ShooshooI hate to say i think you are right and your brother maybe wrong.Lenders often have a maximum loan exposure amount of around $1.5M per client so he may have met the threshold.I own 40 properties and at one stage  had around 25 separate loans all standalone.Personally i am not a great lover of X ing your loans because there always tends…[Read more]

Hi RoadhogYes it is fairly simple all you would do is refinance the current property to 90% of the valuation (In your case $368,000 x 90% = $331,200 ) and then use the difference between the new loan and your existing loan of $297,000 as the deposit and sufficient to cover acqusition costs. Split the loans so you know whiich loan relates to which…[Read more]

Hi SydneyWhy not give Michael a call and get him to do it for you as he is Sydney based.Think i would prefer to trust Michael to get it done right for you rather than your Banker.CheersYours in Finance

Boys beat me to a response comes of being 9 hours behind in the UK for the next month or so.As Michael mentioned your Broker or Bank should be able to sort out the split for you.CheersYours in Finance

Hi TeenaAs Michael has mentioned the cheapest interest is not the sole parametre for choosing one lender over another.There are 101 questions you need to ask yourself before you narrow down the selection criteria for a lender. What may suit 1 customer does not suit the requirements of another.Also you have to understand that some lenders only de…[Read more]

Hi SRThe ATO apply the "Purpose Test" irrespective of the security used to obtain the loan so as i have posted many times before you could secure the new sub loan of $100K on the security of a pogo stick and if the funds were to be used for investment the interest would be deductible.You would link the offset account to the non deductible debt…[Read more]

Hi ColinYou might want to check the First Home Owner Grant / Concessionary Stamp Duty rules when you go down that route.I agree if the lenders accepts the fact that you partially tenant the property then using the rental income for serviceability is fine.What i was pointing out was that to use rental income to convince the lender yet then…[Read more]

ildi shoot me an email and i will email you an article i wrote for the API Magazine on just that topic.CheersYours in Finance

As Jamie has mentioned a Broker might be the way to go as it costs you noting to have someone review your situation and suggest a variety of lending options.Of course providing a rental assessment on the property in order to boost your serviceabiliity when you intend to occupy the property for your own occupation(even for the first 6 months)  is a…[Read more]

Jamie is an excellent Broker and does a lot of deals via email and fax.Why not drop him a line and get him to assist you.CheersYours in Finance

As Jamie mentioned.Many investors believe this is the case but regretfully nothing could be further from the truth.Course if you can purchase cash flow positive property then you can keep going certainly in the short term.CheersYours in Finance

Hi ChrisNot in Brisbane but Northern part of the Gold Coast.Steve Hodgkinson who is a partner with Gold Business Group at Southport has been my Accountant for the last 15 years and i wouldnt go anywhere else.Top bloke as well as a great property Accountant.If you call him tell him i referred you as most good property Accountants are not taking on…[Read more]

Maybe the fact of being 12000 miles away might have made my eyes go funny but if the Bank has a worth double the value they wont be caring too much about your clients caveatable interest. CheersYours in Finance

Where are you based ?CheersYours in Finance

Wendy Higgins is the first Broker to have completed $1Billion worth of loans in Australia so yes certainly comes well recommended.Course with that number of deals you dont always get to see Wendy but one of her many staff.I get it is like anything some Brokers like Bankers / Mobile lenders dont have a clue, dont care and unfortunately tars the…[Read more]

But of course the mobile banker can only tell you how good their product is and certainly wont tell you that you could do better up the road.With a good Broker like Jamie you get the wealth of knowledge across all lenders and would end up with a better overall deal that merely going to 1 lender.Of course also remember as an investor the lowest…[Read more]

Hi BrendonUnderstand we are all here for the same end purpose but agree with Jamie so things maybe shouldnt be aired in public.Jamie is an excellent young broker (maybe not as good looking as me) and can certainly assist you.His email address is info@passgo.com.au.CheersYours in Finance

Unfortunately the lowest rate (and you can do better than 6.96% on a 95% lvr anyway) is not what most investors home in on.There are 101 other considerations.As i mentioned earlier the way your CBA manager has suggested you structure the loan is totally inappropriate for an investor.Just shoot Jamie a line and get him to sort it out for…[Read more]

Sorry i disagree there are several better products around than the Rams Lodoc.With one of the majors Lodoc is still a standard product with no requirement to produce Trading statements, BAS or indeed Accountants letter of income confirmation unlike RAMS which require 2 out of 3.In saying this of course i am not convinced you actually need to go…[Read more]

Wonder if Rleclair has made any other posts   ehhhhhhh just checked and NO.What a suprise.CheersYours in Finance