GOMWho said CBA or WPac want to grow their Credit Book.If you see the increase in lending from both of these lenders over the last 18 months you can see why they are prepared to manage existing lending rather than persue new growth.Up until 4 months ago both taking on absolute rubbish so it is not suprising that the brakes have been applied.JHK.…[Read more]

If they approve the loan i understand they are out too 2 weeks or so.'In saying this they have ramped up their Credit score recently and seem to be declining more than they approve.

There is no difference in buying in Trust with a Corporate Trustee over buying in your own name as far as borrowing capacity is concerned.I accept that many Brokers and indeed lenders wont understand a Trust structure and also that many wont offer you the same rate discounts and package benefits however that is not to say they dont exist.An e…[Read more]

We are not all doing so because we have to. Some of us carry on working because we enjoy it.Please don't say 'see a financial planner'. If they knew how to be financially free then why are they still working!?

shahabr be careful as a lot of areas are not acceptable for SMSF lending especially some of the smaller regional areas.

Hi MikeHate to say it is a comment i get from new clients at least once or twice a week that their own Bank have said NO and it all boils down to how the loan has been structured in the first place.I have written many an aricle on cross collateralising so wont repeat them here same to say that as GOM mentioned if set up properly you always have op…[Read more]

WWFYoung Investor works for NAB so hopefully he might anwer your question. Every deal i have done with NAB here in Brissie they have asked for PG's.

As Dan mentioned financing a deal in a HDT is getting harder and harder so if your lender has told you that you have pre-approval I bet they werent aware you maybe using a HDT or even a UT with some lenders.

Terry beat me to it but even at 0.7% over 15 years on 100K that is 10% savings over the term of the loan.Certainly would rather have it in my pocket than the lenders.

Hi MatthewFirstly welcome to the forum and hope you enjoy your time with usHard to comment without knowing more about them but assuming they are lowset basic finishes then you are probably looking at around $850 / square metre.Depending on which area you are in you might find one of the big Contract builders would look at the deal (I have recently…[Read more]

Terry is right.Most lenders wont have a trouble in lending to a Discretionary Trust however in saying that not all lenders will offer you the same competitive loan terms and interest discounts where their is a Corporate Trustee.I can think of a few with the features you are after.

Does Mini but you only need the 1.Just done 1 in N Brissie taken over a 18 months to go through but just got DA for 55 units and profit is over $1.5M

Yes as Terry mentioned you are looking at between 7-8% for Lodoc 1 day + from 60-80% and Nodoc probably 7.5-9% for upto 70-75% LVR.

Yep thats about it.

Hi LukeIt is difficult to comment without all of the information to hand but must admit i am an advocate of using a Discretionary Family Trust where appropriate.In saying this of course if the property is negatively geared many clients need to rely on the cash flow they receive from lodging a Tax variation form and also the non cash deductions…[Read more]

Hi PeterWhat you are describing is a bred and butter Transfer and something we do weekly. I am also one of the biggest advocates of not cross collateralising your loans so can see both sides of the story.Remember if the property was owned as Joint Tenants then all you are able to do is purchase the other partners share i.eIf the original p…[Read more]

AFG take the average broker who has been around for 5 minutes and is probably wanting a lot of hand holding.The sort of Broker that deals with a lot of mum and dad First Home Buyers. Basis on this i can understand the numbers.Your more sophisticated Broker whose clients are made up of investors, higher net worth clients with some equity is…[Read more]

Yes happens all the time.

Why not post a few of your questions on the forum and we can then answer them for you at least this will give you a heads up before you rush in.Remember if you intend to buy a house for your PPOR the interest wont be Tax deductible so ideally you would want to reduce the non deductible debt and increase the deductible debt.There are a couple of…[Read more]

Tom just to correct Barry post regarding maximum lvr and deposit required.As discussed by email you can still get 85-90% in areas like Dysart with LMI but at 80% you will be fine.Some non bank lenders may still mortgage insure the loan even though you wouldnt pay the premium however you avoid them for a deal like this.