Wasnt thinking so much of this type of deal more the out of the box deal.

Sounds like we should be referring all our deals down to Banker at CBA and charging a fee for the deal. 

Sorry cant access suburb profile. if you want an individual report please email me as i dont have time to check old posts.

If you wish to email the property address i can run you off a Residex report and email it back to you for nothing.

Same old story as Banker said not much time left.You have to get your current lender to redo the loan and accompanying documentation to reflect a 1 Year interest in advance loan.It is not a matter of just drawing down from your LOC and paying 12 months upfront on a standard loan.

Yes they would certainly require sight of the Contract and would be no Privacy Issue as you are the Seller.They would also require to see that a 10% deposit has been paid if they have requested pre-sales.In saying all of this i have never heard of pre-sales on a 3 unit block development these are done as resi deals from the start with many lenders. 

RichteddyAlso remember that LMI is a Loan Cost and therefore a deductible expense if the funds were used for investment.LMI is deductible over 5 years or the term of the loan whichever is shorter (being adjusted for the number of days from settlement to June 30 in Year 1).Normal Max is $1.5M cover per Company although QBE PMI will go higher if…[Read more]

No jacqui that is not the case servicing with most lenders is not better on an IO loan as most still sensitise the rate and calculate serviceability on a p & I basis. Odd exception of course.Yes you can reduce the principal balance with most IO loans as long as the loan is not on a fixed rate whereby there maybe some restrictions.

lol very true Terry or will your Bank tell you the truth.

I think if you like cross collateralising your securities to the hilt and can convince yourself that St George is the best lender going around using a global line of credit product then maybe Destiny is for you until you run out of borrowiing capacity or the structure gets too hard for the person at the franchise and then they drop you like a…[Read more]

Why they are merely a franchise and you get as good a service and advice as the person who works for or who owns the franchise.In many cases these Broker have nil or next to nil in the way of experience and hence have to join and organisation such as mentioned merely to forge relationships and to try and get some business from the master franchise…[Read more]

Hi JacqiYes subject to a clients equity position an 80% standalone Interest only secured against the investment property and the balance from either a LOC or interest only loan secured against the PPOR or other property.

Jacqui do a previous search on Destiny and i think you will find what others have to say about the organisation.

There are a couple of lenders that still do lodoc for PAYG and it is aimed at clients with unusual or short term and irregular income.Certainly dont declare an income that is incorrect as this is clearly fraud however using a lender that merely asks you to declare your income and does require evidence of that income makes sense. Strange th…[Read more]

Hate to say 1 month casual employment even if it is a line of work you have been in previously is going to difficult.More chance of a lodoc style loan if you held an ABN.

Yes and who indirectly owns Wizard now ? er ………………………………..

Really just did a 6 pack of non strata brick units thru CBA only last week.

Most lenders thru the Broker Channel also would have no issue lending to a  Unit Trust.Your set up is common with many clients so nothing unusual there.

Personally i wouldnt be putting in a one third deposit down on an investment property when placing the funds in an offset account will have the same interest savings.Remember you may want access to the savings for personal expenditure or another deposit on a future PPOR and placing it in an offset account gives you the best of both worlds. 

BlackThing you are living in the past my friend. Cant think of too many lenders where you dont actually have to declare an actual income on a lodoc loan these days.