If you can produce payslips and a Group Certificate you can have that income considered but getting someone to write a letter stating you earn a particular amount when you dont is mortgage fraud.Hard of course to commend why you cant get the loan without any information.The reason lenders dont take 100% of the rent into consideration is that even…[Read more]

Do a drainage search at the Local Council office. 

Financed 2 deals in the last 2 weeks in Moranbah for froum clients and not had an issue on either of the deals. Both fully approvedLike anything the security forms 1 side of the equasion but the borrower and your ability and capacity to service the loan is also important. Credit scoring depending on the lvr will have a bearing so will 101 other…[Read more]

If he sourced the information from RP Data yes it is.He can write generally to "The Occupier / Owner" but not by name.

MaxInterest only is the way forward for most investors starting out.Sure you Bank maybe appear helpful but remember they will only look after their interest and not yours and certainly wont tell you if there is a better deal around the corner for your personal circumstances.

CarlApproaching the owners by name from RP Data information is a breach of the Privacy Act and carries with it fairly hefty penalities.

How much time have you got.Likely maximum lvr circa 65-70% if you are lucky so that tells you something.Not only as a buyer but 1 day you may wish to be a seller.If you are putting 35-40% cash then will probably be + from day 1.Lease is as good as the Company providing the Guarantee. This is usually a $2 Company which could go…[Read more]

In most cases you wont get separate Title on the properties until after the construction is complete so assuming the block is appropriately zoned and the DA is a formality then ring the Local Council or talk to a private Town Planner to get an indication of the time frame.Then from this add your BA and construction timings and probably another 6-8…[Read more]

If they are taking the property as security then the answer is simple – NONE.Rent however is only 1 small portion of serviceability and a lender that takes 75% may end up lending you more than someone who takes 90% because of the other factors that have a bearing on your borrowing amount.

As Dan has mentioned regretfully you have missed the boat there unless you look to sell the property into a Trust structure but this will incur additional Stamp Duty.Dependant on the market value and the income numbers may still be worth it.Sounds like you might need some specialised structuring advice to avoid further errors.Interest only with…[Read more]

Hi BrendanFirstly welcome to the foumr and I hope you enjoy your time with us.As far as financing the deal is concerned what you have stated is almost the way to go however i would look to pay down your PPOR debt by the $50,000 realised after the sale of your share portfolio and then borrow the same amount against the PPOR by way of an LOC or…[Read more]

Assuming the balance without the offset is $300K and these funds where originally used to purchase the property then the interest on $300K will be deductible.Any other equity used for personal purposes will not be deductible.

As long as you can support the repayments from your current income irrespective of how this is made up I cannot see an issue with the plan.Just to need to bear in mind that there will be ocassions when the property is vacant or need money spent on it and you need to be able to cover these shortfalls.

Agree with Spiro.Consistancy of employment is an important factor when it comes to casual employment and a good Asset base owning other properties will help you if the loan is Credit scored.Would depend on the lvr required and a little more information.Short form A & L Statement would be helpful.

Simple if you cant afford to make the repayments then you shouldnt be borrowing any further.Your home will be at risk if you do not keep up the repayments.

BurnieHate to say to you that is not the case now.If the loan application is in Joint names then the credit history of both applicants would be checked.Up until 8 years ago one opf the major lenders (who shall remain nameless) didnt used to do a credit search on any loan application. And NO it was not the CBA.

Cant see an issue as long as your lender doesnt charge you too much of a premium for the facility.Remember one of the pluses of LOC's are that you only pay interest on what you draw down.

JasonIf you mean 2008/2009 then Yes as long as trading stocks is not your standard occupation.With 2 years Tax returns many lenders will take the 2009 figures and even for confort can work off the 3 Quarterly BAS statements if needed.

I can strongly recommend Alan at Propertunity.We have financed a number of his clients into Sydney based properties and every one of the deals has been bought at way under valuation.Think it is like anything if you want expert advice and value then it is worth paying for it. 

Yes crest not that Andrew would be gaining anything from getting you to phone his mobile and then he give you some Brokers details.If he is that good why not post his website link and we can all decide for ourselves.