Not sure where the property is located but if you want a good Investment orientated mortgage broker you can go past Alistair.He is based in Melbourne but it doesnt matter these days with modern technology emails / skype / fax and even the good old fashioned telephone.I am sure Jodie is excellent at her job but why not give Alistair a ring and get…[Read more]

I agree drop Jamie a line or give him a call and get some Professional advice.As Michael mentioned it doesnt cost you a cent and you will get free information from someone who owns a IP or 3.CheersYours in Finance

Hi EzHate to say it is not a matter of merely making advance repayments on your IP as the loan itself needs to be restructured to allow payments in advance.With tomorrow being the 3rd June you would pretty lucky to have any lender approve and have documents out ready to settle this side of the financial year end.Calculation is fairly simple and…[Read more]

Hi CharlieWhy complicate life why not place the funds into her offset account and then come to an agreement each month what she pays you. That way when you need the funds back she can transfer them to you without the need for a redraw application etc.Mayuran has outlined the calculation however you may wish to substitute "Sisters mortgage rate"…[Read more]

Hi AndySounds like a bit of a dogs breakfast to me and I can see why you would want to uncross the securities and make life simplier going forward.With the available equity and subject to Suncorp agreeing to partial releases no reason with satisfactory serviceability why you cant achieve what you are looking to do.CheersYours in Finance

Hi NathanHate to say if the Title is in Joint names and you are occupying the property she wont be able to claim much.Why wouldnt you have the property in your sole name and you claim the FHOG / SD Concession (Decent saving in Qld for your First Home) and have the loan in Joint names.Alternatively she could lend you funds as deposit and you pay…[Read more]

It is a very good question Bonnie.Look for a broker who is experienced in working with investors and has an IP or two himself.Personally i wouldn't be taking advice from a Broker who is out there promoting her / himself yet hasnt yet paid off his own PPOR.CheersYours in Finance

Hi BonnieFirstly welcome to the forum and i hope you enjoy your time with us.To be honest i would be very suspicious over a Company that is marketing property to you an also arranging finance.They will be less likely to be truelly independant ad certainly not be keen to tell you if the Bank valuation comes is less than your purchase price.The…[Read more]

Hate to say Dragonfly Jamie has correctly pointed out (as always) that anything that requires LMI these days is always up in the air until formal approval has been given.Lenders or indeed mortgage insurance will not accept the fact that the balance of settlement proceeds will come from a future even such as bonus, sale of an asset etc and always…[Read more]

Yes i would second Alistair as a recommendation.Forum member specialising in Investment as Nigel mentioned and knows his onions.You wont go past better.CheersYours in Finance

Hi LoraI think you are getting confused with a Principal & Interest loan.Interest is charged on the reducing balance. This means with every repayment you repay a portion of the principal (Albeit small is repaid) and the amount of interest for the month is adjusted accordingly.As time goes on and the principal balance reduced (assuming interest…[Read more]

RZIt is simple:1) A redraw is considered a new loan and depends on the purpose.2) An offset account is not.ATO looks at the purpose of the funds to ascertain deductibility.CheersYours in Finance

If your have the serviceability capacity to put down a lesser deposit and buy a 2nd property then i would certainly consider that. Going to need minimum 20% deposit plus costs based on the fact that your credit report is clean as a whistle.CheersYours in Finance

Hi JonWelcome to the forum and I hope you enjoy your time with us.Only look to switch your current loan to IO if you believe in the distant future you might rent the property out and then look to buy another PPOR. If this is never likely then P & I is not a crime.In regards to going forward i am slightly confused by the wording of your post.You…[Read more]

Cant see an issue in obtaining finance although it will depend on the date you were discharged (assuming you are) however the price of the property concerns me.At $80,000 it is either very small or very regional and that may scare some lenders even at a 50% lvr.In saying that all things being equal you should be fine.CheersYours in Finance

No that i am aware of.With no stamp duty or CGT i think you have enough Govt driven incentives.CheersYours in Finance

It is the Building Write off claim that if claimed adjusts the Capital base when the property is sold and not the Depreciation element.CheersYours in Finance

FAST who I am with have their own internal Sale / Acqusition program and dont offer them for sale externally these days.Try someone like Buy A Trail or similar specialist companyCheersYours in Finance

Shoot us an email with the address and be happy to email you a Residex report on the property.CheersYours in Finance

Hi bellaYes you are are on the right track but dont let Bank West tell you they dont do equity loans as i have done dozens of them with BW and never had a problem.Then use the equity loan as deposit and use a separate lender for the new IP loan.Drop us an email if you need further assistance and i can advise you further.CheersYours in Finance