Dean, that provision assumes you dont have another property which you are claiming as a PPOR.CheersYours in Finance

Residex is a property report based on a computerised model.It provides a Comparative Market Analysis including demographics, comparable sales in the area, median pricing etc.Not perfect but often helps with your overall due diligence.CheersYours in Finance

Hi RachieFirstly welcome to the forum and I hope you enjoy your time with us.Must admit i dont know the suburbs but feel free to email me if you require a Residex report ran off on any particular property and I would be happy to run one off for you and email it back.Always happy to do this for fellow forum members.

In essence add your Gross rental income to your other PAYG income and then from this figure take off your deductible cash and non cash expenses.Tax is then paid on the reduced net figure. (Example 1 in your post).CheersYours in Finance

Also keep a copy of the recent sales contract, settlement letter etc as you can still get 95% lvr on an IP loan.Just QBE / LMI will query why the lack of assets so showing them the settlement letter etc will go in your favour.As Terry mentioned 5% plus costs is not surmountable.CheersYours in Finance

No definately not.CheersYours in Finance

i think Dean might be another advertising plant Terry as he has posted some interest responses !!CheersYours in Finance

Hi DeanHate to say that buying the property using a Trust structure has absolutely No bearing on your ability to borrow additional funds and Lenders do not lend you more money because you are using a Trust. You are providing a personal guarantee as a Trustee or Director of the Company if a Corporate Trustee and as such are required to disclose any…[Read more]

Yes it is possible would all depend on your own Asset & Liability Statement, your income, number of pre-sales you have and the actual numbers based on the project etc etcCheersYours in Finance 

Certainly i would not be paying off $60,000 of your IP loans merely to uncross the securities and to be honest you dont need to reduce the debt by this amount or in fact any amount at all.All you would need to is refinance the PPOR borrowing the required amount requested by Suncorp as separate Interest only loans pay them this to release the…[Read more]

Without knowing the quality of fittings etc it is difficult to comment but based on a 2 storey Townhouse you could probably work on say $1800 / Sq M so for a 100 Square Metre Twonhouse you are probably spending $180,000.CheersYours in Finance

No Linar you are bang on.I am only aware of 3 lenders who will openly and knowingly accept an application in a HDT and not of these lenders are particularly competitive.I remember clients who borrowed in such a structure with Seiza mortgages just prior to the GFC who when everyones else interest rate fell theirs went up. They had no choice as you…[Read more]

I prefer Brisbane but well i am slightly biased as i live here and all of my properties are based in SE Qld.Still plenty of room for price increase and bring it on i say.CheersYours in Finance

I would be double checking that Pre-approval.Homeside Pre-approvals are not for 6 months these days in fact anything over 60 days old will require new documentation.CheersYours in Finance

I think you will be pushing it to get someone to lend on 2nd mortgage on such tight figures and also limited serviceability.Anz and Homeside are 2 separate lenders and both have fairly tight serviceability criteria so i would be getting your construction application before serviceability rates increase.CheersYours in Finance

Hi MarkI think even at a relatively low lvr you will struggle to obtain finance especially given the inception of the new Credit Laws.Responsible lending has outlawed access to Nodoc style loans and without clear evidence of your ability to repay (whether this comes from rent or part time income) it would be irresponsible for any lender / broker…[Read more]

Will it be 1st mortgage and if so what lvr?CHeersYours in Finance

We have probably settled around a dozen deals for clients buying in their SMSF and everyone has had some form of administration or legal hurdle.Lenders are still not 100% sure of the legislation and each lenders legal dept interprets the SISA legislation differently.Rule of thumb you will probably get around a 70% lvr with rates varying from…[Read more]

Yes will depend on the lenders exposure and of course whether the loans are mortgage insured or now.CheersYours in Finance

Hi JxfFeel free to shoot us an email or send us a PM and be happy to offer some suggestions.Hi UnrealI thought the old days of lenders saying you were rent reliant had been and gone. I have financed many a deal for clients with a dozen or so properties and i personally have a lot more than that. Might just be your own lenders exposure.Think you…[Read more]