Hi JackoYes you are right structure is the most important part as you dont want to find you have tied up all of your equity although have the capacity to keep on borrowing and are only constrained by the fact the loans were set up properly.Actual numbers would be required to give you further indication and I understand if you want to take this i…[Read more]

HI BlissySorry to come into the end of the post but can i ask you why you are paying principal & interest and reducing the debt balance ?The loan is interest only for a reason and if not should have a 100% offset account linked to it.Place all of your funds into this and offset the interest rather than reduce the principal.You can use the offset…[Read more]

Ok magic noted.Cant see an issue in closing it.

Hi BrianFirstly welcome to the forum and I hope you enjoy your time with us.As SNM as said the crux of the matter away from returns and yields is that lenders are very conservative as to what lvr they will loan for a Commercial property compared to a Residential one and in addition the rate of interest they will charge.Presently there is around a…[Read more]

True but the premiums between lenders can vary quiet considerably.

Hi KimGood to hear that the word is getting through lol.Also make sure the LMI component is on the IP loan it then becomes deductible.

Hi KimYes numbers are one thing and any idiot standing on his head can punch a few figures into his calculator or laptop and come up with a borrowing capacity. The trick is making sure the loan is structured correctly which is probably my biggest cripe when i hear how some Mortgage Brokers and particularly lenders structure a clients investment…[Read more]

No just ask your Solicitor he will tell you that consent is not required unless of course the 2nd mortgagee is insisting on it.

GOM has beaten me to it but have to ask why is interest rate so important.The lowest rate today will certainly not be the lowest rate tomorrow and definately is not the sole criteria for buying a house or investment property. There are many other features and facilities you should be looking for.  

My point exactly Terry.Dont know a lender who will knowingly accept a 5% VF deposit these days.

SherriWhere is the block of units located ?

Hi JasonIt all depends on the State and the regulation within that State. For example in Qld up until recently you need 1st mortgagee consent to register a 2nd mortgage but those days have now gone and no consent is required.No other way as 2nd mortgagee is going to want some security.I assume you cant borrow it from your current lender ?

Maybe heis not with us anymore.Some of these guys come and go quicker than it takes to make a cup of tea.

Hi barryWelcome aboard and i hope you enjoy your time with us.

They can but will they is the question.NAB thru their 4 star brokers will but normally want P & I over 90% lvrRock & Bank W will but try and get a deal approved.Westpac insist you have other accounts or credit card with them and then they will look at.I think you need max patience to deal with Suncorp.

Heh CJ From the figures you have given i think you are almost there now.

Emerald mum,Have you looked at selling your share of the current PPOR property to your husband ?He is the one on the higher Tax rate and would be able to claim your share if he bought you out under the "natural love and affection" clause in Qld. 

Yes exactly as Terry mentioned 3 free valuations a year under breakfree.If it client does not proceed the Bank wear the cost.Under Homeside it is the same for 4 star Brokers.

There is a big difference.What's the difference between using an offset account & a LOC? LOC are normally charged at a slightly higher rate albeit marginal but the biggest difference is the preservation of the interest deductibility. If you utilise an LOC everytime you redraw funds this is looked by the ATO as a new loan. If the redrawn funds are…[Read more]

No agreed just couldnt name the last time i ever did one.Guess if you came up on the Corporate Credit Search and you hadnt ever provided a PG for the Company loan then no reason to disclose it as you wouldn't be personally responsible.Done it with some Unit Trust Commercial lending but not with a Pty Ltd.