Depending on the equity involved probably wouldnt need to go through non traditional lenders but without actual hard data it is difficult one to advice on.Nodoc and very very lodoc is still around JUST.

Firstly welcome both to the forum and i hope you enjoy your time with us.Trish no you dont need to go through an agent to purchase a property or indeed rent the property but in saying this of course you would need to locate a vendor who is selling privately if you wish to bypass an agent on the sale. His commission is of course paid for by the…[Read more]

All boils down to equity.Couple of lenders till left that will advance funds on a reduced LVR where no traditional evidence of income is required however all depends on the overall deal.Also i guess should you be borrowing if you feel you cannot pay it back ?Without further hard data it is difficult to comment further.

No it is a way of a lender saying we offer Lodoc but these are our requirements.Lodoc is for clients who havent got access to their 2 Years Financials. In saying this of course the lenders attitude is that you would still be completing your Business Activity Statements even if you Tax returns are not upto date.They are not alone however CBA and a…[Read more]

Possibly as 95% lvr is almost impossible to get without using PMI as the mortgage insurer. Not ideal but sometimes you dont have a choice.

If the loan isnt mortgage insured then i am suprised your Bank have told you that is a problem.If it has been structured correctly then i can see how that would be an issue do it might be case of getting your Broker to try an alternative lender.Obviously without the rest of the hard data it is difficult to comment further. 

HarrisonDifiicult to now why the finance was declined on your 3rd IP but certainly doesnt sound like the loans are structured correctly.Must admit we are finding investors are picking up the slack left by some of the first home buyers and buying in droves.I dont think there has ever been a better time to buy.More important question i guess is do…[Read more]

HopefulSorry to read your story.Regretfully if you have missed a payment over the last 6 months no conventional lender will offer you a lodoc refinance.Westpac still look at 80% refinancing however as they are one of the few lenders left doing refi's insist on spotless credit and payment history.Dont now any private lender that would go to that…[Read more]

One of each.i actually own a block of units in BH but i have had that for a few years.

A couple of areas i have increased my portfolio in recently include Bowen Hills and Albion.

Hi TonyI agree with Terry why pay down the principal when you can change the structure of the loan to an interest only loan with 100% offset account and have both the flexibility and on call access of your funds.Also if you are looking at buying another IP initially then the name or entity which you use will depend on the property itself.If it is…[Read more]

As Terry has mentioned 90% even 95% would be possibly available however the mortgage insurance would be fairly hefty and need to be deducted from the loan proceeds on a refinance at that LVR.Guess it all boils down to the Banks valuation of your current property.

Not quiet right so let me correct the anomolies.The first home owner boost will continue in its current form for first home buyers entering into contracts (and owner builders who commence construction) up to and including 30 September 2009, providing eligible first home buyers with $7,000 for established homes and $14,000 for new homes. In…[Read more]

Income is from both. Cash flow from rents and profit and lump sum from development.I have been buying property here in SE Qld since 1995 and got to a position where i could live off my income in 10 years.As to the timeframe to service debt well that was circa 5 years.Admitedly didnt have that much debt compared to todays numbers and have seen…[Read more]

I now personally i have an income from my IP's more than enough to support my developments and the Bank will lend on that alone. Mortgage Broking and Fin Planning income supports my day to day expenses but my rental & wrap income is what i use to support any borrowings.

Adam, Sorry i deleted your message and number this afternoon by mistake.Feel free to call me in the office tomorrow if you want to chat about wraps in Qld.

Personally i would always look for an interest only loan with 100% offset as it gives flexibility and allows for a change in your own circumstances.If you are looking to repeat your purchases over the coming months / years there maybe some mileage in looking at one or two of the Pro packs.

Hi CocoYes because it would still result in a partial sale and therefore trigger Stamp Duty & CGT.

Unfortunately not that simple.You wil be up for Stamp Duty on the Transfer value charged at the current valuation as well as CGT on any gain made.In addition the discharge, transfer and registration fees if the property is mortgaged as well as any new application or set up costs.

Hi MichaelFirstly welcome to the forum and I hope you enjoy your time with us.Regretfully on a standalone basis you wont find any lender offer a 100% loan these days and the odd lender that offers 95% will want to see a minimum of 3% genuine savings. There is the odd exception but you will end up paying for that.Unless a parental gift or a family…[Read more]