Hi TongAs Jamie you can certaInly have the loan with the same lender and not have these crossed.Of course in saying this your Broker may not want to split them for you or not know how and that could be the difference.There are a couple of ways of shifting the debt to your current property and making the interest fully tax deductible but there are…[Read more]

No you cant get 100% lvr so unless you use some cash then you will need to gear against the PPOR.I just wouldnt cross collateralise the 2 securities and hence would split between 2 lenders.Dont forget you need to have the Trust set up before you enter into the Contract.CheersYours in Finance

Well i wouldnt be buying as Joint Tenants if you intend to pay down the principal. This needs a little more structuring. Have you considered a Discretionary Trust structure?Would aid the Tax problem but will benefit you in the end.Your mortgage broker should be able to give you some pointers in regards to the structure but i would be looking at so…[Read more]

Personally i would split the loans.80% secured against the IP with 1 lender where you could look at a fixed or variable rate and 20% plus costs secured your PPOR with another lender with 100% offset account. As the value of the IP increases shift the debt onto the IP and start again with another property.Couple of little bits you could do with…[Read more]

Yes sounds like your man at the NAB is being awkward.We use the NAB a lot and could find out an acceptable valuer from them with a phone call. (Suggest you push your Banker on this).No in Qld if you bid and are successful then you are unconditional and have 30 days or whatever the Auction Terms dictate to Settle the purchase.CheersYours in Finance

Agree with Terry buying in Trust has a lot of benefits but wont assist you in increasing your borrowing capacity.If you need to claim the negative gearing then maybe buying in your own names is the way to go for the next deal.Whilst your current properties are increasing in value you may have to use your own cash reserves for the forthcoming…[Read more]

Hi MjDifficult one. If the Letter of Offer and Mortgage Documents have been issued then you should be ok with most lenders although i can think of one particular lender who will remain nameless that often calls up on the day before Settlement to check.I guess more the concern of mine would be can you afford to support the new level of borrowing…[Read more]

Sorry but this is clearly incorrect.You can't get finance for homes in the U.S.You can but you just need to know where to look.CheersYours in Finance

Hi RuthIf you want to shoot me an email i am happy to give you some unbiased advice.i do own the odd IP myself so understand what an investor needs.CheersYours in Finance

Hi RuthWelcome to the forum and I hope you enjoy your time with us.Why oh why oh why would you ever pay a lump sum into an investment loan and then borrow 100% of the total cost.Firstly the only way to do this is to cross collateralise the securities, secondly you would look to place it in an offset account if you didnt have a PPOR loan and…[Read more]

Regretfully not.NCCP will prohibit such a loan as clearly the borrower could not show serviceability on their own.If however the parents were co-borrowers then this is a different matter and would be dependant on the overall income and liabilities of all parties.Some lenders will not allow such a loan however we have one going thru exactly the…[Read more]

Leonie Dixon at  CSM Conveyancing6 / 82 City RoadBEENLEIGHQ   4207  Fax – 3807 3841Ph: 3807 2233 (office)  Email – ldixon.csm@westnet.com.auTell her i sent you and she will look after you.CheersYours in Finance

Hi SteveWelcome to the forum and I hope you enjoy your time with us.Personally i would never use cash or personal savings for investment especially when you have non deductible debt.If you are wishing to use the funds for investment you would better off to pay down the home loan by $70K and then take out a separate investment loan for the same…[Read more]

No dramasLook forward to hearing from you.CheersYours in Finance

Happy to refer you both to my Conveyancer here in Brissie as she covers the whole of Qld.She has acted for me on around 200 purchases and is excellent.Let us know and I will post here details.CheersYours in Finance

TyronMight want to take one of those "W''s out of your website signature unless you have started something new.CheersYours in Finance

TiffanyYes get your mortgage broker to order a valuation from an acceptable valuer of the Bank with whom the finance is being arranged. Almost imperative on any Auction deal.CheersYours in Finance 

Hi MattFirstly welcome to the fourm and I hope you enjoy your time with us.Can i ask you why you would sell your current property merely to invest the money in another property.Why would you not just rent out the current PPOR and rent yourself if that is the desired option.With the costs of buying and selling it doesnt seem to make financial sense…[Read more]

Hi RickYes the new Credit laws have curtailed some of the Nodoc / Lodoc lending however in saying that there are still plenty of excellent products out there that require varying levels of documentation from "stated income" to the odd BAS statement to merely holding an ABN for greater than 6 months.I would need a little more information to tell…[Read more]

Hi AndyJust about to drop you an email re our conversation.CheersYours in Finance.