Hi JackThanks mate and appreciate the business.Locky's final game you have no chance especially when it could be 25 degrees up here at 8pm.Well heres hoping anyway.CheersYours in Finance

Well said nathan.Course Jason might be a happy buyer but he could also be the Sales Manager.Wondered if he checked with ASIC before he went to Contract.http://www.somersoft.com/forums/showthread.php?t=71047CheersYours in Finance

Hi GeorgeHate to say that the new era of Credit legislation puts emphasis solely on serviceability and responsible lending.All lenders are covered by the same legislation so you are not going to get preference by contacting a non bank lender.If your partner is in receipt of regular casual income then at a 50% lvr it might be possible with a couple…[Read more]

Might be slightly biased about the Gold Group as they are my Accountants. One of the partners has been my Accountant for nearly 15 years and looks after my whole portfolio. I have recommend Steve to 101 forum clients and never heard a bad word back. Service is second to none.In saying this they are very popular so not sure if they are still ta…[Read more]

Hi TJYou would be suprised a separate laundry is fairly common with many lenders.CheersYours in Finance

In short – NO you will not get 90% on a block of 7 non strata units.You living in one or not has no bearing on the deal.CheersYours in Finance

Hi JoshWould slightly disagree as if Johny buys them in his own name with next to nothing by way of income he wont have anything to claim anyway. If he buys them in his partners name then this could be different.Remember any Capital Allowance that is claimed reduced the Cost Base down the track should the Asset be sold. CheersYours in Finance

Hi JoshIf Johhny buys the property in Trust he cannot claim the Depreciation anyway so buying an older property and renovating is not going to make any difference to his strategy as the idea is to generate income not Tax deductions.CheersYours in Finance

Cam as Michael has mentioned Lodoc is indeed alive and well post NCCP.Difference is now you Broker has to make reasonable efforts to ensure that the loan can be supported by obtaining Bank statements, Accountants confirmation, BAS or other forms of evidence so he is fully complying with the terms of the legislation and repsonsible lending in…[Read more]

Might want to read up on the local crime statistics first.Then talk to a couple of property managers and ask them how they find the area.Personally i dont have any of my properties in Logan and dont intend to start but thankfully that is me and everyone is different.CheersYours in Finance

Well the loan on your partners PPOR will need to be set up first and then maybe a pre-approval on the first IP (once you have decided which entity you will using)As long as the Trust is set up prior to the Contracts being signed / exchanged you will be ok.If you are wanting to set up a Discretionary Family Trust with you / you and your partner as…[Read more]

Under the new Credit Act making an application for a loan and not declaring you are likely to be leaving this shortly would fail the Responsible Lending guidelines so that course of action is out the window.A Property based  Accountant would be able to set up a Trust for you and costs will depend on whether you have a personal or Corporate…[Read more]

Lenders assess you as being jointly and severably liable for the entire loan but this does not determine your serviceability.If you buy with another person lenders will add both of your incomes together and take both of your liabilities.If you are unrelated you will be assessed as 2 single persons as far as the living allowance expense is…[Read more]

Hi JohnyGood to hear that your health problems are all sorted out.You will want to be very careful in going forward as if you look to redraw the $180K from the PPOR loan then the interest will not be Tax deductible.Also you not having an income will limit your progress in expanding your portfolio as you will be limited to your partners income and…[Read more]

Keiko is correct with most lenders however i haver seen a couple of the smaller Credit Unions charge interest on a Quarterly rest rather than daily basis so will depend on who the loan is with.Also many lenders work their offset differently so not to straight forward there.And they wonder why clients get confused.CheersYours in Finance

Hi EmmaGood to hear the story and very happy for you.Bank West are good like that and if they want to keep the business they like every lender are happy to bend a little.CheersYours in Finance

Hi FreeHave a read of my article in the Oct 2010 API magazine and it will tell you a bit about how i started my journey.If you want it in PDF format shoot me an email and i will send it over to you.Just cant attach it here.CheersYours in Finance

Hi Amandait is good to see that Brian has arrived in time to answer his first on NRAS and hopefully he will stick around to answer another 1000 more.I have financed 101 NRAS properties and suggest you be very careful in the financing as in most cases we have found the valuations have come in less than the purchase price due to the marketing…[Read more]

ShaneI get 30-40 enquiries a month from Australian Residents wanting to buy in the US for around that figure.NCCP has stopped a lot of the lending to Australian as far as a Brokers perspective so at the moment i only deal with UK Citizens / Residents who dont fall under our Credit Legislation.Hopefully we will shortly be launching our new 100%…[Read more]

Ok sorry Shane bit too low for lenders who deal with FN's.CheersYours in Finance