Yes very simply.Brokers have 2 choices under NCCP they can go the Authorised Representative route or apply for their own Credit License.The majority of Brokers have gone the AR route which means in most cases they are governed as to the lenders they can use by their aggregator who holds the master license.Whilst some Aggregators are allowing br…[Read more]

Rule change is not quiet correct and is more the implementation of the National Consumer Credit Protection Act which covers anyone in Australia when applying for credit.We are still doing a number of applications for non residents (mainly UK investor clients) who buy all over the US.CheersYours in Finance

Not sure you are going to find too many lender accept a borrowed deposit from a vendor these days so unless you buy under an installment contract VF is probably out.For an average purchase in a Pty Ltd Company / DFT you are probably need to save around 15% – 17% of the purchase price for each property so thing it might be more a long term…[Read more]

Yes can think of a couple but will depend on the mortgage insurer and how your credit score comes up.Why do you need to be able to choice the valuer.CheersYours in Finance

Hi MarkWelcome to the forum and I hope you enjoy your time with us.Firstly times have changed a lot since Steve & Dave and I financed our 1st investment property and whilst the strategies remain valid the ability to borrow the sorts of lvr's that were available back then have considerably reduced.This is not to say that it still cant be done but…[Read more]

I am assuming that you dont own a PPOR as if you do there maybe other considerations.Based on the information to hand terry is of course correct..Separate loan split to fund 20% + costs and then standalone IP loan secured against the property being purchased.CheersYours in Finance

All depends on where the property is located and 101 other factors.Certainly unlikely to be able to choose the valuer maybe choice from a valuer on the panel.Can think of a couple of lenders who will allow that but you pay the valuer direct and arrange for the report to be assigned to the lender.90% + Lvr will depend if it is for owner occupation…[Read more]

I can think of 2 other lenders who have been accepting it for the last 3 years and funnily enough have just stopped accepting it.Of course trying to get a 95% lvr loan approved could be a different matter.CheersYours in Finance

Simple reason he didnt include the figures in your husbands Tax return is as the guys have all said the Title is in your sole name. CheersYours in Finance

I would 2nd Alistair's recommendation of Nigel he is a good honest operator who has been around for years.You can PM here on the forum or email nkibel@netspace.net.au.Either way you are dealing with someone who knows his stuff.CheersYours in Finance

It is not a simple matter of merely refinancing.The Title would need to be changed and this would involve a Transfer in ownership.Depending on whether the property is a PPOR (to be rented out) or indeed an IP could trigger both Stamp Duty & CGT implications and these would need to be factored into the equasion to see whether it is…[Read more]

Take no notice of any one who says it cant be done, or you are to young.Other than it is illegal to enter into a Contract to purchase Land under the age of 18.CheersYours in Finance

A) No absolute rubbish. If the purpose of the funds is for investment the interest will be deductible. it wouldnt have mattered if you had secured them against a pogo stick you could still claim the interest.He said that the ATO may not see interest on the 20% portion of LOC as being tax deductible.  You bet they did. Certainly not the case.…[Read more]

Australian rate.CheersYours in Finance

Yes it is very simple. Both Citibank and HSBC will offer such a product but the difference is that it will be done by the respective lenders Australian Branch and hence the prevailing rate will follow.CheersYours in Finance

Hi JohnNeed to email it to me as i am in the Uk for Xmas and i can come back to you.CheersYours in Finance

In essence what we would need to start with would be income / expenditure & assets / liabilities.This gives a good indication of your general position.A further needs analysis could then be looked after we could establish a basic borrowing capacity.CheersYours in Finance

As i say the rate is neither here nor there.The amount you can borrow (and that was what your question was originally) will depend on 101 criteria as i outlined above.The actual chargeable Interest rate means nothing.CheersYours in Finance 

Hi BeakaSubject to serviceability and a few other things you should be able to get a LOC to 90% of the lenders valuation.Not sure from the numbers that will give you very much but at least it is a start.CheersYours in Finance

I guess disclosure is upto you and I wont comment on that but in saying that i hate to say you wont be able to get separate Title to the properties without the mortgagee consent so long and short of it is they will find out.They will then want to value the remaining security and if they consider there to be a drop in value will either want…[Read more]