Thanks Jim Hope the report helped. I certainly find them quiet useful.

MickHard oen to answer because it all depends on where and what.Just done one for 95% in a very small town although it was an owner occupied property.With regards to Strata Titling yes you can differentiate on Unit prices (Have done on a Country block i bought in Victoria) but you would need to argue the reasons why i.e one was a 2 bedroom unit…[Read more]

Hi CassWell that would appear to be enough with certain lenders especially given the additional FHOG you would receive.Of course assume serviceability is ok and the other credit bits.

Hi CassWhat sort of purchase price are you looking at. With the Grant being what it is depending on the purchase price you maybe ok.A couple of products out there that will do 95% plus LMI with no genuine savings requirement.

bjsYes you are correct as long as there is no relationship between you and the tenant (cant be a Trustee of the SMSF or related party) then you should be fine.In saying this you have to consider the following:1) A SMSF cannot borrow in its own right so it is done through an Instalment Warrant by utilising a Bare Trust. A Corporate Trustee is…[Read more]

Welcome to the forum Josh and I hope you enjoy your time with us.

NACThey are wrong. If they argue switch lenders.

Hi ValIf you dont need to pay LMI then dont however i would never use any of my own cash as a deposit.I think if you structure the loan properly you could borrow 80% against the new IP and a Line of credit against the PPOR stick your cash funds in a 100% offset and get the best of all worlds.This could be the launching pad for additional IP acqusitions.

No kylaThat is the way to structure it.If you stay with the 1 lender and amount is over $500K then your LMI premium will really start to rise.

Where Jaffa when you need.Unfortunately off travelling looking at properties but i am sure he will be back to clean up this advertising shortly.

Hi noisuf1) Purchased a place for $600K where I will be renting it out for minimum 5 years before I'll move there through rebuild or extension. Ok with that noted need to make sure you structure it properly.2) Had pre-approval from ANZ for $600K prior to making offer. I will be paying stamp duty out of my own $170K funds (offset in current home…[Read more]

Almost nil chance of financing over a mid lvr. 

LisaIt is not a matter of not being honest with the lender as I assure you they will find it is merely a matter of structuring the loan correctly from day and then sticking to the structure.Your summary is about right. 

RajAs we discussed you wont be able to buy the land in 8 individual names as the properties wont have individual titles until completion of the project. Unit Trust would be a suitable entity to consider. Due to the size of the project it will be consider as a Development project with the terms, fees and charges that go with this.

Hi JennyYes it all depends on the mortgage insurer, the lender and the location and zoning.Normally much under a population of 5000 and you might struggle at the higher lvr.Wont find any lender waive LMI in the small regional areas where the loan is over 80%.Would need more hard data to advise you further.

LisaIt is becoming harder and harder with The Dragon being owned by Westpac who also own RAMS.CBA owning Bank West and a 30% stake in Aussie Home loans.NAB buying out Challenger during the week.Yesterday WLMI withdrew providing cover on all of their high risk mortgage insured loans for Westpac and passed these deals to Gemworth who are known for…[Read more]

Thanks Terry did say it was a fair few years ago lol

Thats the one $10K PA but i think you might want to check the maximum over a 3 year period.Havent got the figure to hand but did a calculation for a client only a week or so ago and their is a capping over a 3 year period.

Still problem comes when the land value is less than the current loan amount and GR lending isnt available.

Grrrr sorry to say Helen but Yes.Of course without all of the numbers it is difficult to be exact but if it is over 80% LVR then no chance.