pinkboy no you are correct certainly not gospel.Gemworth calculator will give you a broader base level.CheersYours in Finance

Hi IntrigueFirstly ask your Bank manager which mortgage insurer they use.As a guide you can look on the Genworth website  http://www.genworth.com.au/ and this will certainly give you a good estimation but remember each lender has slightly different scales and in some cases there are the odd one or 2 lenders who charge a fee or similar instead a…[Read more]

Hi BlankIt is called negotiations although i hate to say 1% discount with NAB is very unlikely.CheersYours in Finance

GOM with apologies that should have read "Quiver". I assure you they dont get quicker over $1M.CheersYours in Finance

Tonju drop me an email if you want a Residex report ran off on any particular property and I will shoot it up to you.CheersYours in Finance

In my opinion good product but a bit conservative when it comes to serviceability model.It was strategy i used with Anz succesfully in the mid 90's and acquired our 40 properties. Now we have almost paid down the entire debt so product is not so important but certainly has a place.As Michael mentioned over $1M they start to quicker a little and a…[Read more]

I would be a bit wary of doing a Redraw as it will have Tax consequences depending on what you wish to use the money for.A separate loan is oh so much cleaner.CheersYours in Finance

Hi GOMHate to say simple answer is no as the Bank will want a Guarnatee from the Director /sAndrew assuming you are the sole Director and the Trust isnt a Hybrid Trust then i cant see a problem.The loan would be in the Company name as Trustee and you as a Director providing a personal guarantee.With regards to the question as to whether it…[Read more]

Try Leonie Dixon at CSM Conveyancing Brisbane  CSM Conveyancing6 / 82 City RoadBEENLEIGHQ   4207  Fax – 3807 3841Ph: – 3807 2233 (office)    Email – ldixon.csm@westnet.com.auLeonie has acted for me in over 200 purchases over the last 15 years and I would never go anywhere else.I have also introduced 101 forum clients to her and everyone has been…[Read more]

Hi MattCapitalising interest is not standard in the residential arena more in the quazi development / commercial space.It would all depend on the loan to value ration to whether the interest could be capitalised during the construction process.CheersYours in Finance

Hi KeikoIn that situation it will depend on a couple of factors:1) The land value once the house is no longer there and 2) The end value once the 2 properties have been constructed / lvr.As long as these 2 areas are covered off and subject to the normal underwriting and credit criteria Yes the deal can certainly be done.CheersYours in Finance

You have to be kidding me.I have done 2 deals this week alone for forum clients who were buying in the name of XYZ Pty Ltd ATF ABC Family Trust.I accept that many Brokers may not understand the concept but it is fairly straight forward.One forum client this week told me her Broker had said she couldn't get more than an 80% lend using a Corporate…[Read more]

Hi batgirlIn most cases it wont be the lender that carries out the valuation more a specific valuer and that will depend on whose lending panel he is on. Taking a loan as interest only with 100% offset is the same effect as paying P & I although the big difference is that you have added flexibility.CheersYours in Finance 

At that price i agree i think they are overpriced.Give Lee Doyle a ring at LJ Hooker Narangba and he will give you a honest opinion of the area.Sells a lot of property and is a good young fellow to boot.CheersYours in Finance

Yes with equity in the land and or other property.CheersYours in Finance

Agree with Terry on that one.Qld for one did away with And or Nominee Clauses and avoiding double Stamp Duty.CheersYours in Finance

Most lenders are offering you upto $1000 to switch your loan across so we have been flooded with refinance applications.Sub 7% isnt too hard to achieve. Few lenders will waive package fees (or in fact dont charge any in the first place) so depending on where the property is located the Registration / Transfer Accounts etc could be fairly…[Read more]

As Jamie has mentioned it is not the best rate but in saying that it is not the biggest loan.For 20 bps here or there i wouldnt not waste time thinking about refinancing but on focusing how to buy your next IP.The saving in annual interest will probably be taken up in the costs of switching. Be suprised how much more important interest rates…[Read more]

Agree with Terry.Sound like you should be changing Brokers as he clearly doesnt understand how such a structure works either.You can actually go to 95% lvr albeit the choice starts to get limited over 90%.CheersYours in Finance

Sorry Michael but i have to disagree.The investment decision making of the fund is set by the Trustees and not the Accountant / Financial Planner and whether such an investment can be made is outlined in the Investment strategy normally set up with the original Trust Deed.Certainly a member might take advice from an Accountant / Financial…[Read more]