RayYes you can use the land as security for the construction but will need to borrow against it to fund the building.

Yeh thanks Maurice i think you might be in the wrong Hemisphere my friend.

RayYes you can use the land as security for the construction but will need to borrow against it to fund the building.

70% would be max at the moment and then it would depend what other exposure the lender had in that complex.I cant see at the moment any reason why lenders or more importantly the mortgage insurers will change. 

How hard can it be? Sorry i had to chuckle when i read this statement.Do you honestly have any understanding of the mechanism of development in a foreign country.Of financing of dealing with tradesman, builders, Local Councils, corrupt Governments etc etc etc.May mattnz is correct are you sure you are not a middle man looking for a cut somewhere.

HI GrantHavent read the book but understand the concept so will comment on what is currently available in the market.1) 80% of cost would be available in the current climate Yes.2) You wont be able to capitalise interest on a residential loan at an 80% LVR.3) GRV is an accepted method however not at 80% LVR. No standard lender offers such and you…[Read more]

What starts as a PPOR has a habit of becoming an IP and therefore where possible would always recommend a Interest only loan with 100% offset.Regretfully too late in 3 years time when you decide to move again and want to retain the current PPOR as the next IP.Flexibility is key to loan structuring something which i think Bank managers and a lot of…[Read more]

Daniel if they are "old school" and i understand their reasons why then they would not be wanting to put up their security for your property purchase.If they have a loan on the property they would need to refinance to whichever lender you go with as you wont easily get a lender to take a 2nd mortgage behind someone else.Sounds to me like you might…[Read more]

Realistically you will need 5% minimum deposit saved over a 3-6 month period plus acqusition costs and LMI.Depending on your Credit score that may increase to 90% so regretfully i think i would read and save at the same time.10% of $300,000 is $30K and that would be a minimum.

Realistically you will need 5% minimum deposit saved over a 3-6 month period plus acqusition costs and LMI.Depending on your Credit score that may increase to 90% so regretfully i think i would read and save at the same time.10% of $300,000 is $30K and that would be a minimum.

Hi JohnFirstly welcome to the forum and I hope you enjoy your time with us.Couple of quick points:1) Certainly wouldnt have the loan P & I even on my PPOR so would look to switch this to Interest Only with 100% offset.     Also make sure it is a true offset account and not a suido non transactional account.2) Yes you could add your parents in as…[Read more]

Crests figures are about right however i think you would get a slightly higher lvr on the motel security itself.

Remember Cairns is not Charters Towers and builder are going to charge a premium for going inland.

Agree with Terry your parents would be far better off to take out a loan for the 20% deposit and then gift this to you (even if you pay them back at the same rate of interest) than offer their security up for a family pledge style loan.If the loan is over an 80% LVR both the mortgage insurers will require evidence of genuine savings for a minimum…[Read more]

HillbilllySorry i dont want to burst your bubble of enthusiasm but this is clear not true When your current lender wont lend the companee trustee any more money for more properties, move on to a new lender- set up another company trustee and start borrowing again. this is how i understand it.All loans you Guarantee are required to be disclosed to…[Read more]

Only thing you need to bear in mind is that the lender will want to revalue the security that you are retaining and ensure that the loan to value ratio is mainted within its normal guidelines.I have financed literally 100's of clients doing just what you are doing and never had an issue.

Hence my suggestion you look to refinance into a Shared Equity scheme.

Fredo firstly Merry Xmas to you also.I thi9nk i read you are in Qld so if correct NO there is no way to Transfer your properties to a DFT without incurring Stamp Duty and YES CGT could be triggered on the Transfer value depending on a 101 points.Nothing wrong in starting all future acqusitions in Company / Trust name.Lenders wil go to the same LVR…[Read more]

Forget the family pledge just get him to tip in the cash otherwise you have security doc costs and valuation etc etc.

LMI will be nearer $8K and if capitalised will be more because the LVR is greater.Remember because the loan is over $500K then the premiums start to leap.Sure your broker has told you would be better off to split the loans between 2 different lenders to reduce the cost or alternatively use a relocation loan lender.