Interesting endorsement from someone making their maiden post.

Am I a sceptic or just olde fashioned.

Cheers

Yours in Finance

Interesting endorsement from someone making their maiden post.

Am a a sceptic or just olde fashioned.

Cheers

Yours in Finance

George using Units in a Unit Trust or not does not get you around SISA.

You cannot mortgage the property as Terry has indicated above.

Misguided, definitely do not take that post as advice as it is incorrect advice.

Cheers

Yours in Finance

Hi George

Really and a Banker will actually tell you whether you can get a better deal down the road………

I must admit most of the poor set up’s or loan structures i have seen are on loans that have been processed by Bankers.

At least a Broker can give you an overview of the whole market and compare all available loans to ensure the…[Read more]

Hi Borat

Your BC is affected by your other home loan repayments however each lender assesses this repayment at a different rate.

Some will take the payment as the actual repayment others apply a percentage margin to the rate (i.e 4.5% x 30% and adopt this) and other work off a pre-set figure say 7.25% for everything.

I have written a number of…[Read more]

Buying under market value is merely one strategy.

Again only works in a rising market.

There are a number of other ways to increase your wealth and keep your serviceability up.

Cheers

Yours in Finance

Hi Huilo

No does not apply hence there are still lodoc, nodoc loans in the non coded area of lending.

Cheers

Yours in Finance

At the moment we are not prejudicing borrowers from South Australia so you will be ok lol

Hell we even take Victorian and NSW clients at the moment …….

Cheers

Yours in Finance

Hi Nan

No good brokers here lol

Hate to say the Big 4 lenders probably have the worse serviceability model so not ideal however without the full picture it is hard to advise you further.

I would probably look to establish an equity loan against your property and then use this to access deposits and acquisition costs of the new investment…[Read more]

Hi Nan

No good brokers here lol

Hate to say the Big 4 lenders probably have the worse serviceability model so not ideal however without the full picture it is hard to advise you further.

I would probably look to establish an equity loan against your property and then use this to access deposits and acquisition costs of the new investment…[Read more]

Andrew, what your broker has suggested is a standard structure for future acquisitions.

Cheers

Yours in Finance

Hi Sharon

Unless i can buy the whole block I personally don’t invest in units full stop.

For me Brisbane is the place to invest but in saying that I am slightly biased.

Cheers

Yours in Finance

Yes nothing like dragging a good old 12 year old post.

In fact I wonder what Jars11 Accountant is now charging as it was $220 / hour back then.

Cheers

Yours in Finance

Hi JB

Away from the health issues there are a few other things to consider such as resale value etc.

We had a deal from a forum member not so long ago where we asked to do a 80% lvr on a block of land with a view to building on it down the track. When the valuation came back I noticed in 1 of the valuers photos there was power lines close to the…[Read more]

Owner Occupied – 4.19%

Investment – 4.49%

As Jamie mentioned you can do a lot better on a 3 year rate.

Cheers

Yours in Finance

I believe you would be able to claim a percentage of the LMI arguing it was incurred on the whole loan.

As it is normally claimable over 5 years with the first years proportional you still might be able to get 2-3 years worth out of it.

Cheers

Yours in Finance

As a Ex UK Banker I have to disagree with Cattleya.

I also have a number of close friends high up in Credit these days with a couple of the bigger Banking lenders and discussed it over a beer with them at Xmas. There answer was YES it had to be disclosed and then upto us on how we assess it.

As far as applying for an Expat loan that may have…[Read more]

Hi Hullo

Yes he would be required to disclose the Australian property on an any application as an asset and the loan as a liability.

Most UK lenders won’t however accept the rent as income towards the servicing of his UK application.

Cheers

Yours in Finance

Although the line of credit will be interest only.

Cheers

Yours in Finance

Hi Ben

At that sort of lvr you should be done sub 4’s.

Being an interest only loan the Bank will probably charge some form of premium but still should be less than what you are currently paying.

Go back to them and tell them you what a payout figure as you are looking at switching lenders and i think you will be surprised how they…[Read more]