You would suprised how many Brokers have no idea about Trusts or Companies so maybe that is not a good test as the pass rate maybe fairly low.I would try and ensure the Broker has similar thoughts to creating wealth to you. No point in using him to purchase additional IP's only find out he doesnt own properties himself and is in fact still paying…[Read more]

Well you will need to disclose your current loans so your new Broker will now what you have and havent got.Your old Broker will never now on the basis you dont ever go back to him.i am unsure as to why this is a problem. if you are unhappy with his service or level of experience then move on anyway.

Obtaining a lodoc loan especially a refinance wont be easy unless you have BAS / Trading post NCCP.Also high Credit card debt will also have a bearing on your Credit score so the firstthing i would be doing is getting rid of this as quickly as possible.Again with limited information it is difficult to make any real suggestions on funding.By the…[Read more]

Regretfully you thinking you can afford the repayments and a lender agreeing with you are two separate issues.Your first IP must have been purchased as a PPOR as otherwise you would not have received the FHOG or Stamp Duty concession. For future purchased you will pay Stamp Duty at the normal assess rate in your State for an Investment property.

LMI will vary depending on the loan amount and lvr and the scale will change so without having an actual numbers that question cant be answered.No lender will waive the LMI on a 90-95% lvr.You will need to finance 5% deposit plus LMI if LMI is not capitalised or $25,000 if the lender will fund it.

Without having 12 months employment with the same employer you would be pushed to get any more than 90%.You will need to funds the balance plus acqusition costs from your own equity or savings.Also with a combined income of 65-70K i think your serviceability will be a wee short even with assumed rent.

Still lenders doing 95% + LMI but good luck on ever getting one approved if you do not have an existing arrangement with a lender.

Agree with Terry would go the good old fashioned Interest only loan over a LOC anyday.

JRYes you would be suprised how many clients tell me their Broker wants them to refinance all of their current loans purely and utterly for the income.There is no reason to refinance all of you properties (assuming interest rates are much of a muchness).Without additional information it is difficult to comment however there is usually a way around…[Read more]

niffnuffPesonally i wouldnt have any dramas with Chan & Naylor but would certainly get a quote from them before you give them the green light.For an Accountant on the Gold Coast feel free to contact my Accountant who is an expert on property structures and based in Southport.His name is Steve Hodgkinson and he is a partner at the Gold Business…[Read more]

If you dont want to go the Trust route you could look at your husband merely buying out your share and borrowing accordingly.In some States there is no Stamp Duty charged where the transfer is between related parties under the "love & affection" clause.

BradWelcome to the forum and i hope you enjoyr your time with us.Certainly i would look to take advantage of the FHOG and Stamp Duty concession and then after the qualifying period look to rent the property out and move again.Property selection is important as financing a inner city unit / 1 bedder (depending on the size will not be easy in the…[Read more]

No.

Ok cheers.NAB have the same promo but wont cover Reg / Transfer costs.

Ok Banker agree there.Maybe i was giving the Mortgage Choice Broker too much credit. It is probably his second week in the job.

Hi SteveYes nothing to stop you doing that an in fact that is the way most Brokers would structure the loan for an investor client.I am of course assuming that the 20% line of credit is secured against your PPOR. As long as you have sufficient equity in the PPOR then LMI will not be charged on this loan either. If it was you may be better off…[Read more]

LMI not only varies between the 2 insurers but also from lender to lender.As Banker mentioned the majors self insure so a Anz deal going through PMI could be cheaper than the same loan going through say Suncorp.Then depending on the lvr you have the odd lender who will  pay the LMI for you or in some cases not charge it at all but charge a r…[Read more]

No Anz use PMI and to me bought them back to where everyone else was.They were the first to reduce to 90% and the last to come back but all in all good signs.Banker were CBA  covering the discharge, reg fees as well ? 

Hi FingersLeonnie Dixon  CSM Conveyancing 6 / 82 City RoadBEENLEIGHQ   4207  Fax – 3807 3841Ph: 3807 9521         Email – ldixon.csm@westnet.com.auLeonie has acted for me on over 200 property deals here in SE Qld. Tell her i sent you as i have referred hundreds of forum clients to her and all appear very happy. 

Rabobank had a good Tour De France special although not sure if that is still on.We got 6.68% on 6 months Term Deposit with Heritage BS about 3 months ago.