Yes it is possible if you have equity in a property and can draw on this if not you are going to be hard pushed to do many deals as at some stage in the game you have to part with a deposit (or Call Option Fee) need a Solicitor to draw up a Contract / Option Agreement, put the power on a house so you can renovate it, pay some insurance etc…[Read more]

Must admit we cant put our developments up quick enough.In saying that however we dont intend to sell them merely build, lease and collect the rents.One reason BA's are falling is simply the lack of development finance.CheersYours in Finance

Must admit we cant put our developments up quick enough.In saying that however we dont intend to sell them merely build, lease and collect the rents.One reason BA's are falling is simply the lack of development finance.CheersYours in Finance

Hi HGNo cant see an issue in your parents depositing funds into your 100% offset Account (assuming it is a true offset account rather than quazi offset account).In saying this of course if they receipt a Pension then they will fall into under the deeming Asset rules and the money will be deemed to have received interest even if it hasnt. (Limit on…[Read more]

Without being funny absolutely no point in doing a valuation thru say HTW or CBRE and then finding they are not and accredited valuer with the Bank / lender you intend to use. Big difference between a Bank valuation and CMA as SNM as suggested however you would be concerned if the figurs were miles apart.CheersYours in Finance

It will depend on other factors which include:1) Is it your first purchase?2) Is it owner occupied?3) Is the purchase price under $500,000?4) Is it owner occupied.?5) How much do you need to borrow?Once you now this you can work out some of the costs involved.CheersYours in Finance

Hi VicNever had a Bank undercut me in 22 years usually the other way around.A good MB can structure your loan correctly to make sure it is set up right for you wheareas a Bank manager / loans officer has no interest in doing this and in most cases no idea either.An example was a client today who was told by his CBA branch manager that he had a…[Read more]

Ok might have an issue there as Westpac wont do 3 properties on the same Title and unlikely you would get separate land Titles until the buildings are constructed.LMI isnt going to be cheap depending on the total loan amount.Cheers'Yours in Finance

Nothing wrong with Bankwest and Yes no problems in saying it on the forum.Typical Bank though they want a bit of everything when it comes to security and wouldnt now how to structure a loan to suit a customer.CheersYours in Finance

Bayer who is the lender ?Sorry but is doesnt sound right. The interest is non deductible being on your PPOR so guess that doesnt matter.Redraw and offset are a mile apart.Lenders will tell you they are the same thing but they are not.CheersYours in Finance 

Hi MattRealistically unless the deal is very stong most lenders wont lend anything against the business value itself.If you buy a recognised franchise then it might be slightly different you might get 60% lvr but a small leasehold business you wont get anything like that.Depends on the business itself as to whether potential income will be taken…[Read more]

Hi MattAll depends on what is being offered as security:1) Residential property then the Rates are ok subject to equity position.2) Business itself – Good luck.CheersYours in Finance

BayerHate to say at 6.2% it will not be a true offset account but more like a redraw offset account within the loan.Such structure can be a total mess if the loans were for investment.Personally i would have them all separate and standalone and certainly not have your PPOR acting as security.Clients seem to think interest rate is the most…[Read more]

Hi BayerNo not messy at all although if the existing lender settles you might be up for some costs or exit fees etc. Ideally want to get the new lender on board asap so that things are happening quickly.I have a deal in at the moment where Settlement is on the 14th Nov and i am very confident we can make that date so 22nd shouldnt be a…[Read more]

Hi ThommoSmall development finance is at a premium so without more information it is difficult to comment.It is an area we probably are getting the most number of enquiries from at the moment and there is no right or wrong answer.Would depend on the balance of the deal.CheersYours in Finance

Normally you wouldnt nominate son or daughter but merely children of the TrusteesCheersYours in Finance

Hate to say i disagree.You can certainly put a condition /s in the purchase contract that the Seller serve the appropriate period of  notice on the tenant to allow you access to the property for whatever reason. As long as the required period of notice has been given there is nothing the Tenant can say or do.Also you could include a condition th…[Read more]

Hate to say i disagree.You can certainly put a condition /s in the purchase contract that the Seller serve the appropriate period of  notice on the tenant to allow you access to the property for whatever reason. As long as the required period of notice has been given there is nothing the Tenant can say or do.Also you could include a condition th…[Read more]

Hate to say i disagree.You can certainly put a condition /s in the purchase contract that the Seller serve the appropriate period of  notice on the tenant to allow you access to the property for whatever reason. As long as the required period of notice has been given there is nothing the Tenant can say or do.Also you could include a condition th…[Read more]

Yes certainly does apply.I have many a client with a dozen or so properties and all of the rental income is being diverted into the offset account.When the PPOR has been paid down nothing to stop you linking the offset account to one of the PPOR loans and repeating the process.CheersYours in Finance