Gary you are getting closer.Might be a family friend this mortgage broker of yours but why not drop Terry a line. He is in NSW but would cover Melbourne. Remember this day and age most deals can be done by email / interest / phone or fax. Most applications are lodged electonically when it comes to assessment.Might as well go with someone who has…[Read more]

Oh Sarahs back what happened to jackk or whatever his name was.

Thanks for wrap Pete.To be honest life is easy with such a good client like yourself.

I dont know the area very well but have just financed a deal in Hobart for an investor client.If you want a Residex search done on the property shoot me an email with the security address and I will whip one up for you.

Seems a bit dramatic to change the ownership just to enable their son to do some renovations.Why would you not get them to tell you what they want done and you merely project manage it from here organising trades, architects etc etc.That way they dont incur Stamp Duty and possible CGT is it is not the principal place of residence or their is no…[Read more]

Yes that would probably get you over the line with certain lenders i can think of.

Hi MatthewHate to say it wont be in the NAB's interest not to cross collateralise the securities for you and they certainly wont want to tell you how to do it.If you have a mortgage broker on board he can show ways around it as the NAB line of credit or similar is not attractively priced.A Deposit Bond is normally provided by an Insurance Company…[Read more]

Hi MattNot quiet sure what you are referring to.If you mean the Vendor is happy to accept a Deposit Bond Guarantee then this would be arranged through an Insurance Company and something your mortgage broker can do for you.I am hoping you are not cross collateralising the loans with the NAB but it does sound like your are Grrrrrrr.Otherwise you…[Read more]

At 4 units on a single Title i think you may 80% LVR depending on how rural.

Hi MarisaNon of the Australian Retial Banks will offer such a loan from over (even though they own all of the NZ Banks) here but we have done them through a couple of specialised lenders.Depends on where you want to buy in NZ as to the LVR.

Gifting still incurs stamp duty.

Contract of Sale or Transfer.Stamp duty will be payable on the Transfer or fair market value but other than that fairly straight forward exercise.Just get your Solicitor to do up the Transfer documents and then lodge them for stamping.Of course i am assuming that the property has no loan secured against or is used as security elsewhere.

Regretfully not an expert on Albert Shire.In saying this as long as it is on title i can see an issue in lodging a building application to increase the external size of the property. Normal Town planning conditions would apply.

Sorry can i just ask you why you need 20% deposit.There are not too many areas where we cant get more than that even with LMI.

Hi YobboBit of a grey area as it will depend on a number of factors including the number of units / size of each in the block, post code etc I have 2 or 3 similar deals on my desk at the moment and the variance in lending criteria for each deal is considerable.Without further information it is difficult to give you an exact answer but you will not…[Read more]

No any potential wrappee has to pass a normal loan application check as far as we are concerned. My Business partner normally does the Building Inspection and we go from there.No i dont mind you asking. I retired at 39 living off my property and other income and after 6 months of being home under my wife's feet she told me to go and get a job and…[Read more]

Yes we do all of the complete assessment ourselves under our Vendor Finance Company First Home Owners Group and have 2 full time staff that do the day to day management of the loan statements, rates notices and field all of the phone calls etc.

Ok i read it that it was 1 account with a major although he had other accounts spread elsewhere.Yes totally agree consolidate your accounts if they are all with the same organisation.

Yes Brisbane.

Magic hate to say i disagree with YI.If you have an existing account with one of the majors (and i am not sure which one) i would keep it going for the time being as having the account could certainly increase the lvr available to you.This is not to say you have to go that route but definately gives you options if needs be.