Anything can be done at a cost.Can you actually reverse the ownership percentage down the track? How would this be done?You can indeed alter the split of ownership down the track but will incur CGT and possibly Stamp Duty dependant on the State the property is in.I think you need some specialist advice as other  than Terry / number 8's reply i am…[Read more]

Darren you cant sell the property in SA through an Instalment Contract (Wrap) but nothing to stop you doing so through a Lease Option.

JasonServiceability is just one factor to take into consideration especially under the National Consumer Credit Protection laws.As long as the initial IP is not Cross Collateralised you could keep this as a standalone loan and as Terry mentioned access the equity in the current PPOR to cover the Deposit and costs.

night if it is an issue i would be suggesting you look at getting your Broker to restructure your loans and look for an alternative lender. 

Go Gecko also offer a capped commission for $5950 and can be reached at http://www.gogecko.com.au/

All depends on the purchase price.The Queensland Government sets the real estate fees / agents fees /real estate commission in QLD at a maximum of 5% of the first $18,000 of the sale price and 2.5% of the balance of the sale price. 10% GST is also payable

Now i would like to see that extended to 10 years.Maybe brokers with less than five years experience should have a ‘P’ on their cards. OR at least get the clients to sign an acknowledgment that they understand their broker is still learning?Or even a statement that the client had to sign to state "taking advice from me could seriously damage you…[Read more]

Maybe skip this months copy of API cos i am in it.

Yes Nathan probably not a bad structure to start with.

As Terry mentioned set up a separate interest only secured against your PPOR with My Rate for the deposit and acquisition costs and then look to take out a new Interest only loan secured against the IP you are borrowing.Dont use the redraw facility in your current loan product or you will have issued when it comes to Tax time.

We have offered a Shared Ownership scheme in Qld through our Company First Home Owners Group Pty Ltd 5 years before Rismark and Adelaide Bank ever introduced it.

Regretfully all you need these days is a Cert 4 in Mortgage lending which as Hans points out takes a week and an aggregator to take you on (sometimes harder than it sounds). A couple of industry memberships Credit License and you are up and runningI would like to see a minimal education standard (Cert 4 is a joke) and that you have had some…[Read more]

I have to 100% agree with Banker and surely you dont want people with 5 days of mentoring experience out there advising sophisticated investors on the lending requirements.The new legislation is trying to clean up the image and professionalism of the broker market and to me this means a combination of  experience and education and u…[Read more]

No not normally as they are remunerated by the lenders with whom they place your business.

Hi JulesRealitically unlikely to get more than 95% lvr less LMI so on that basis you are probably going to need savings of around $18,000 just to cover the deposit and bank purchase costs. Then of course you have the property acqusition costs such as Stamp Duty, legals, transfer, searches etc etc.It will be dependant on the State you purchase the…[Read more]

Must admit never had a 95% lvr declined with NAB and i have done them in many a regional and rural town.Agree of course that all comes to the actual deal itself. Maybe we just whittle out the chaff before we submit them.

610 might even have City views from there. I am doing a little (very little) development in SP Road and we have City view but will want more than $350K.Only concern would be the size very small and per sq M that is expensive. 

Trent – NAB 95% lvr is only available if you are a 4 star Broker and Kellie's Broker may not be.

Yes Anz do allow Brokers to order valuations prior to submitting the deal.

Whereabouts in Everton Park?$350K is about right for a decent 2 bedroom although 75 Sq M isnt that big.