Hi AnthonyOk Yes going to be hard with 1 year ABN as many lenders will want to see a clear exit strategy demonstrated and lodoc refinance is getting harder to achieve by the day.

Yes 4 + definately Commercial Devt funding.

I would do a bit of both.Stick the funds in a 100% offset linked to your PPOR and then structure the loan in such a manner that you can also buy a further IP.

Hi KasHere i am but currently in the UK on holiday until the first week of December.Feel free to give us a call in the office after the 7th.

I think you could sharpen the pencil on the interest rate (albeit i understand we had a further interest rate increase on Melbourne Cup day. See the things you miss when you are on holiday overseas).All boils down to the LVR and other factors. 

Yes you are correct trying to obtain residential finance on a 3 unit development is hard work but like anything at the right LVR and with other information can be achieved.

Alternatively email your Mortgage Broker and he will do the calculations for you as well as answer and other questions you might have.

Hi MarkHate to be the bearer of bad news especially when i am away on holiday.In the present climate no lender will advance anything more than 95% of the purchase price and the limited number of lenders offering such a high lvr will want to see a minimum of 3% genuine savings. Credit assessment is also a lot harder than it used to be for such a…[Read more]

Yes GoM only 3 years too late.Being in the Uk on holiday must admit i havent seen much detail but would be interested to read up on it when i get back.

Ok point noted. Cant remember doing a loan in the West of Sydney.

Tend to disagree for the right client.Currently in the UK on holiday and already had 2 approved this week alone.

Must admit i charge a cup of coffee to most of clients for a consultation and like to think they get a fair amount of information for that.I have 1 or 2 properties to say the least so feel any Broker or Financial Adviser who charges is probably taking advantage of you. I appreciate it is par for the course but doesnt necessarily make it right.

Because it will limit your future borrowings.Mortgage insurers like lenders have max exposure levels.Problem is you cant go the 4 or 5th mortgage insurer once you have max out with another because there are only 2 of them out there. Unlike lenders where you can switch around and try another lender.As Terry mentioned it is horses for courses but i…[Read more]

InvestIn most cases this is clearly not true 'No mortgage insurance for loans under 80%"All loans are mortgage insured just the fact being that you the client may not pay the premium.As Terry has pointed out this is not a good thing at a sub 80% lvr.

Fact of being in the UK may have slowed me down.Credit policy is the biggest drain. Certainly they dont want to discuss a deal unlike a lot of other lenders and everything is either black or white.The way they calculate expenses when it comes to external loans, negative gearing policy list goes on and on.

TonyActually going the other way if anything.Although in saying that subject to everything 95% for investors is still around.

royRegretfully whilst the loans could be separate and represent 50% of the total amount borrowed (even with a couple of lenders have your individual names on the statements) you would both be jointly and severably liable for the entire debt.

Hi Mel and RobFirstly welcome to the forum and i hope you enjoy your time with us.Normally you would be able to refinance and raise equity upto a maximum of 90% of the property valuation however in saying that i have had the odd issue with mortgage insurance and the Port Hedland post code in the past.Assuming we can get around these issues you…[Read more]

Hi BadgerWow even from the cold wet UK i would suggest you hold right there.Couple of potential issues i can see with your strategy:1) Certainly dont pump or even trickle money into the mortgage itself rather establish an interest only loan with a 100% offset account and place any surplus funds into the savings account. Then when it comes to your…[Read more]

Morning DaveWent i left Oz a day or so ago it was circa 70% on something that small.In the UK that sort of property is pretty common and not that difficult to get mortgage insured.