What exactly are you looking for and at what LVR.Most lenders wont allow unlimited cash out without a genuine reason and evidence i.e ANZ will want a Stat Dec stating you under stand the risks of investing in shares etc if you say the funds are for managed funds and also a copy of the Statement of Advice from your financial planner.NAB will want…[Read more]

fredoThere is a big difference between the processing speeds of Homside and NAB although funded from roughly the same arm.Sounds like your Broker wanted the extra Homeside trail commission.No office outside sunny Brisbane however in saying that typing this from the UK it is not so sunny.Hate to say folks if you deal with me you get me and no one else.

Hi fredoWell i guess i have to disagree but then i would wouldnt I.I decent broker isnt just a form filler and a pusher of paperwork he / she is someone that has a thorough understanding of what your requirements are knows where to go and achieve this and works with you through the deal.In addition, he / she knows how to structure a loan correctly…[Read more]

Probably 70% lend or similar might get 80% off the top of my head. 

So much for Bank brotherly love.Your Broker should be able to get these waived for you.

Terry is correct investors who used to live off equity are finding those days have gone as most lenedrs require some form of evidence if it is merely a stated income on the application.With fewer lenders offering such products they can rate the risk accordingly and charge appropriately.

Hi NicThe reports are individual property based so email me an address and I can send you back a report.Doesnt like the broker you are using has any idea on how to structure an investment loan.

NicNothing wrong with the Anz Breakfree package but the loan needs to be structured correctly.I personally would not have the Chuware property on P & I even if was your old PPOR as interest only with offset is the way to go unless you have another PPOR loan.Do not take out 110% of the new purchase price on the new property offering then security…[Read more]

Hi NicYes you can certainly do so.Sounds to me though like the loans have been cross collateralised and not a great way to keep going forward.If you are going to look to keep moving then i would look to uncross the loans first. 

Idea is not so far out at all but i think the number of Vendors willing to take such a deal will be limited.Many of the Vendors will have a mortgage on their home and will be a matter of them having to take on 2 mortgages until you eventual settle.Alternative would be to take an 80% LVR and 20% Vendor finance loan which maybe more attractive to…[Read more]

Stamp Duty is payable on the Instalment Contract price in accordance with the Terms of the Stamp Duties Act in your State.In Qld it is payable 30 days after the date the Contract goes unconditional and prior to the date of possession.

Thats exactly right Jimmy and is why you would never terminate under the B & P clause unless the property had some shortcomings. Terminating under the finance clause is an acceptable way out as the finance needs to be on Terms acceptable to the purchaser.

As the registered owner unless the original Development had a management right condition or similar there is no reason why you cant use any property manager for your rental.

Hi Jenny1.As a guideline, how many basis points in interest rate above the banks' standard variable home loan rate should I offer to the seller?  Varies dependant on the Contract but most of the ones we have done have been set over the RBA Cash Rate rather than the Banks standard variable rate. 2. Do I need a special property lawyer to draw up t…[Read more]

Max LVR would be 60% so if you have equity in your own PPOR then you will probably get this upto 100% of the new IP property.In saying this with every traditional loan you are required to state an income even if evidence is not required to be produced.More details would be required to provide an accurate answer.

DenisThe other important factor with an interest only loan is the flexibility which is key.You may decide to buy a house and live in there for ever and a day but alternatively you might just use the first house as a stepping stone to buying a bigger home in a few years.Interest only gives you choice.

And never take financial advice from Builders.

No i agree $1600 + GST / Sq M would be about right for Bris at the moment.

Developers dont pay CGT their income is classified as Trading Profit and therefore can write off all of their expenses against it.There are very few ways of reducing your Tax liability below 30% especially if the work is undertaken within a Company structure and a decent profit level is made. Trick is limiting it to 30% only by using retained…[Read more]

Thanks Andrew as always appreciate the wrap.