Hi CathWith the NAB usually if the valuation is within the last 3 months they will work off the last figure unless you can convince them the property has increased in value and can provide evidence so support this.

I am only aware of 3 standard lenders who still consider full doc applications where an HDT is involved.

Not quiet right Geraldine banks don't like to loan on things that are under 50 sq but admitedly the lvrs are reduced.

Hate to disagree with Ryan again but if the property is a residential house upto $300K both Gemworth and QBE PMI will provide cover upto 95% in Moree.

Buying 3-4 properties worth 100K is financial suicide even if they are positive cash flow today.Firstly at those prices financing them would be difficult and remember even property you buy irrespective of the yield will reduce your borrowing capacity.Keep some of your funds back for contingency or maintainance, vacancy etc and divide the rest up…[Read more]

Well wont give all the Trade secrets away but ING for one charge a reduced equity fee which depending on the loan amount can be less than half the LMI premium.There are 2 other lenders off the top of my head i can think of who also dont charge LMI.

Hi MattNot quiet right "all Banks will only lend you up to 80% of the value of the properties without mortgage insurance" and there are several options to reduce this. 

Rather being concerned about the monthly fee i would be asking yourself why you are looking at making extra repayments.Why wouldnt you convert the loan to interest only and retain the offset account fee and all.

Dont worry i get a man in to mow and trim i just get worn out watching him.

Hi BenCant see an issue with the strategy and as long as the lending part is set up correctly there is no reason why you wont be able to expand your portfolio over time.Remember living with a mate might sound all well and good short term but last thing you want to do is fall out over some minor issue so I would set down some ground rules i.e who…[Read more]

RyanNot quiet that easy.Firstly how long has the ABN been registered and it is registered for GST.Anything less than 2 years and you are going to struggle at anything over 60%.Documentation will depend on who the lender is and their mortgage insurer requirements.Gemworth require BAS and in some cases Trading Statements.QBE PMI dont require a lot…[Read more]

Hate to say NO they dont source their funding from the same place as major Bank.Firstly they cant source any retail deposits so it is all down to RMBS.As has been mentioned previously Rams, Aussie, Mac all had attractive low rates at one stage in the game. 

Gary as GOM has mentioned a true 100% offset account and loan redraw (which is what PMG is offering are not the same from a potential Tax perspective.I agree that many of the 2nd tier lenders can be extremely competitive however with the companies who have named you are talking 4th tier. I guess many of us on the forum here remember the likes of…[Read more]

ID HYes regretfully whilst the properties may be + cash flow lenders work off a serviceability rate which can be upto 2.25% higher than the actual standard variable rate and this tends to disort the true affordability.

Serviceability varies from lender these days and there is a massive difference between institutions.Some lenders are increasing their serviceability rates although 2 lenders have reduced them to allow the client to borrow more.Finding a lender fund 3 units on the same Title may not be that easy though especially if you are close to max…[Read more]

When you say you can pay out the loan at any time does this mean you have the cash to do so or there are no exit penalties.There is a big difference.If it is the later i would query how you intend to finance the construction as i think you may have a wee problem here.

For people selling and offer VF.

Finance markets in the US are starting to open up again and we closed on 2 deals last week for clients albeit at a 60% lvr.

Jobs over a $1000 will require a Licensed Tradesman In Qld so your tenant or the neighbour may not be the best placed to assist especially if you want to avoid the weight of the QBSA.

mpjtIn the words of Laurel & Hardy "seems like a good old mess you got yourself into".No regretfully not you cannot claim the interest on a LOC as the "purpose" is what defines the deductability and not the security.The way you should have done it from day 1 was to have taken out a interest only loan with 100% offset account and then of course you…[Read more]