Simple reason they concentrate on units/townhouses etc and not freestanding dwelling is that the developers who pay them a nice fat commission (Trust me they have market over 100 of my properties over the last 13 years) will not do so on a single dwelling house.Also ask yourself why the yields tend to be lower, it wouldnt be that the purchase…[Read more]

Terry i agree with you.Mac Bank and RHG clients all thought they were getting the best deal upto a couple of years ago.Mind you in saying that so did Seiza and Bluestone clients for their respective product range and where are they these days.Oh yes and what happened to Homepath, One Direct etc. You are absolutely crazy to save a few basis points…[Read more]

Hi DaveFirstly welcome to the forum and i hope you will enjoy your time with us.Like you i am a fellow Pom (Just returned yesterday from 5 weeks back there).Dont listen to your work mates as the average Aussie never purchases more than his own PPOR and even those who take the IP step normally only ever buy the 1. I arrived in 1993 and currently…[Read more]

Just bear in mind that whilst you can apply for the loan in your sole name you will still be considered as married when it comes to your living expenses liability.This can be offset if the deal is tight but normally only when we can show the spouse can support herself and does not rely on your income.Couple of lenders that will not require PAYG…[Read more]

Whilst in the main this true it not across the board.There are still lenders out there that do not require BAS as long as the ABN is > 2 years and if required is registered for GST.75% Nodoc is also available just a matter of horses for courses.

Sorry Denis back from the UK and over the jetlag.Yes has taken a few years but was lucky to be buying right through the 2000-2002 property boom in SE Qld and also having 1 or 2 real estate contacts helps.Certainly suggest we look at getting pre-approval prior to you going to Contract as lending market is changing by the day and saves…[Read more]

Hi TremeloPost is slightly confusing as you mention pre-approval and then mention that you might look to draw the additional funds down and use them for the next deposit.Only of doing this would be if the current loan is cross collateralised so i would be thinking carefully and suggest you might want to get some further advice as structure is…[Read more]

Hi siennaNot every client likes the valuation their lender comes back with and appealing it with the current lender is probably futile.Nothing to stop you looking at taking your business elsewhere and getting a new valuation.Depending on the figures and what you are trying to achieve may well be worth it.Let me know the security address and who…[Read more]

DenisHave nothing to hide.Currently 40 properties in and around Brisbane but that has taken 12 years to accrue.Will be looking to expand that this year interstate.If the Broker is Licensed he can offer advice on property. Personally i dont but always happy discuss generally suburbs with clients especially if they are near where i own my properties.

I think i would also be asking how many properties do you own and what is your net worth.Personally I wouldnt want to be taking advice from a Mortgage Broker who has never owned an investment property.

To be honest you wouldnt need 6 months as 3 months is more than adequate.Just make sure your Mortgage Broker has experience in structuring a loan as so many seem to have absolutely no idea.Many deal with the average mum and dad and when iit comes to future investment properties seem to thing you are talking a different language.

Hi DenisOnly thing i would throw in the ring is " Do you think Bank A would tell you Bank B or C was better for you …… I think not. At least a Broker can deal with everyone".

Pleasure Russell.As i say will be back in Brissie Thursday afternoon so be happy to assist.

I assumed Oz despite the handle name as in the US we could do the deal as a Nodoc deal.

Hi AndrewFirstly welcome to the forum and i hope you enjoy your time with us.Restructuring the loans requires a little specialist tweeking to maximise your Tax deductions and also rid yourself of non deductible debt as quickly as possible.Firstly if we were acting on your behalf i would ask you for a short Statement of Position so i could see…[Read more]

Think you would get more than 70% on a 40 Sq m unit but agree it will be limited and less than Melton.

Hi LukeHate to say it is becoming more of an issue by the day as lenders tighten up their criteria.Few other questions I would ask in addition to those raised by Matt above but certainly those will help give you a fair assessment.Other issue i can see is the fact that you need the finance quickly as very lenders are acting that quickly in the…[Read more]

Hi MichaelCurrently on my last day in the UK on holiday so will give you a long distance comment.Not an expert on the area so wont comment here but on a financing perspective you have to bear in mind that a 1 bedroom unit will tend to be smaller in size and lenders will want to reduce their loan to valuation.This also means if have sufficient…[Read more]

Hi mareeThanks for the endorcement hope you are both keeping well.Currently in the UK on holiday for another day so experiencing some Melbourne winter weather.Be happy to assist Russell if he wanted to drop me an email and will jump on it when i get back.

Hi RussellWe do but i cant vouch for every mortgage broker.