Not really a lot of it is down to LVR.

Tery is right lower the lvr the better.1 lender i know as long as you were previously employed in similar industry will still do the deal on probation but asme story longer you are there the more choice you have.

Dear AlvinGreat opening post.Without being funny if Eric you founder has only 10 properties at the age of 30 maybe he should log in to the forum and learn from a few of our members who have a lot more than that and are younger than he is.Really i ask you. You say you run an investment class can we ask what is your AFSL number.What other…[Read more]

Rest my case GOM. The record is now broken.

5 years or the length of the loan if this is a shorter period i think i am right in saying Dan ?

Carry out a Title Search and you will see the Registered Interest in the property and with whom.Course wont tell you the balance outstanding. 

Sherri Is the block in Brisbane ?

LeoThrowing my 6 pence in. A) Will banks lend to us under this arrangement?No hate to say they wont lend where the Title is in your mothers name and the loan is in your name.Maybe a couple of ways around it but she will need to a party to the loan. Course if you hold other unencumbered security this maybe different.

Hi SamsonLook i hate to say with your current lender and a DSR of nearly 70% there is no chance they will advance any more funds for a new IP.I am sure your FInancial Planner is good at what he does but would have no idea on how to restructure a loan portfolio to maximise your borrowing ability. Probably advise you to walk away from property as he…[Read more]

Hi renoBe suprised to hear what some clients call there Company and wonder why they cant get finance.You are going to be fairly limited on your husbands income alone so real carefull loan planning will be required.On his income you would be looking at a maximum (assuming all credit card liabilities were gone and he did not guarantee the loan on y…[Read more]

HI KatWelcome to the forum and I hope you enjoy your time with us.Regretfully you wont qualify for the FHOG as your partner has already purchased a property and therefore this disqualifies you.The new property you purchase can be in Joint names as it will have no bearing on the eligibilty.Lastly the First Home Owners Grant is only for owner…[Read more]

Ok assuming the Bank value the property at $340K you should be fine.Just make sure your mortgage broker or banker splits the loans after the capital reduction.

As GOM said make sure the propoerty values up and that the rent is at least market rent now and in the future.Paying $20K over and above the odds for a property means the vendor can pay a lot of rent subsidy over the next couple of years.

Still going Mike!!!. Oh ye of little faith.

SharonDo you have a current home and mortgage against it.Structured planning your finances before you rush in and pay down cash for a deposit could be time well spent.

Adding to Terrys well made points:1) Do not call your Trust or Company something along the lines of "Smith Developments or Smith Renovations" as lenders just love lending to clients who they thing are doing this full time at residential rates instead of development rates and the associated fees that go with it.2) Have you thought about how you…[Read more]

Rock Building Society based out of Rockhampton.

Hi Mark Welcome to the forum and I hope you enjoy time with us.Some answer to your questions:1. Am I in a strong position to buy an investment property?A) Certainly you appear to be able to service the potential debt. What is the current value of your property?2. Is it possible to find a property so the rental yield will cover the new mortgage?…[Read more]

Hi BlissyYes there is a big difference between a redraw and an offset account as it all boils down to eligibility of the deductability of the interest. An offset account achieves the same goal however keeps things nice and clean when it comes to deductability.Probably need to confirm a few things off the forum before i could tell you the way to…[Read more]

Hi WeneverTerry has given an excellent explanation of how to structure your loans going forward.Is the Child Care centre cross collateralised with your own PPOR if so accessing equity could be difficult as lenders have become very scared on CCC security after the ABC collapse.Ideally you might look to restructure the Commecial loan to free up…[Read more]