Exactly next thing you are going to tell me he gets a kick back from the selling agent for the referal.Another case which ASIC will have a field day under the New Credit Act. Thankfully they affect Bankers as well as Brokers.

I totally agree with #8 you need to work with a mortgage broker someone who owns a few properties and not just 5% equity in his own home.There are a couple of stragies to move you forward although givening factor will largely be serviceability and the type of property you end up going for whether it be capital growth or something with higher cash…[Read more]

Hate to say providing fake payslips is mortgage fraud and certainly not something we would be involved in.Also what income is not taxable have to enlighted me because i was under the impression all income was Taxable.If the other income is from self employment then limited doc loan is a possibility even to 90% but the rate is ugly and the set up…[Read more]

Yes there is a few even going upto 95% lvr but everything else needs to be squeeky clean.

There are many ways to achieve this subject to the usual conditions.Lodoc and Nodoc lending is still alive should this avenue be necessary but in same cases clients think they need this way forward when in fact full doc options are still achievable.

Think #8 might be mistaken on that one.It is :At least one applicant occupies the home as their principal place of residence for a continuous period of at least six months commencing within one year of the completion of the transaction to which the application relates.

Terry reprints are being sold at less than that these days as it is well out of date.

Then when you have searched past comments and realise you cant finance more than circa 60% you can make your own mind up.

MD70Bank SA is part of the Dragon empire and as a consequence owned by Westpac (Or Wesuck in the Broking world).They dont want to lend money because they have got any and seem to have a higher cost of funds than most and this is reflected in the higher rate of interest quoted throughout the Group lead by Westpac or have already stated that they i…[Read more]

Ryan simple answer is can you buy a house in Australia for the equivent of 14,000 pounds?I can in places like Rotherham and another doezen cities with good infrastructure, population and property management.

Hi KongAs well as doing due diligence on the organisation I would also be doing mine on the past activities and history of the principal !!!!Makes interest reading depending on how long you have known him.

KongDoes that good reputation include the repeated action ASIC have taken against their founder for misrepresentation Wayne Ormond.Might like to read the inside page of this months Mortgage Broker for all the comments.

Julie Think you will struggle at the moment.Was going to suggest John Charcoal but i see they went out backwards 3 months ago and whilst are back in the game are trading in administration.And you thought getting finance here was bad.

NickWouldnt worry about the saturation of Brokers.If we follow the UK who has lost over 35% of its Brokers since the GFC we should all be ok.I dont think the new Credit Legislation goes anyway near far enough to whittle out the rubbish.I have over 25 years experience in the industry and see people ever day of the week advising clients with 3 hours…[Read more]

Hi JessYes Bendigo would want to take all securities and wrap you up like a dogs dinner.Why dont you look at taking our a line of credit or similar with Bendigo on your current property and using these funds to cover the 20% and acqusition costs for the new investment property purchase.There are some excellent investor style loans out there at the…[Read more]

It is a very good question.In most cases No only the Trustee of the Trust or the Directors of the Company would be Guarantors but there are lenders that require Guarantees by Adult beneficiaries.Not sure what good that does them but they do ask.Let us know what you are needing and I would be happy to assist.

Where can we get a copy of the Prospectus as required under the Managed Investment Act.

apgillIt has been discussed in depth on the forum so do a quick search on past posts and you can read some of the responses.

BurnieThere are many variables in calculating serviceability and no 1 lender is the same.Lenders will normally take your net income and then add in a percentage of the Gross rental and from this deduct certain expenses including existing loans, potential credit card limits and a living allowance. Arriving at a net figure they will work normally…[Read more]

Disagree a call to Anz and we could have a new set out the same afternoon.Cant say that with every lender.