Hi MccrillsWhere are you looking at purchasing and what sort of price range?

Hi PinwheelI can think of numerous issues with this strategy which would include:1) Unless one of the Directors is a Registered Builder or you intend to Contract the work out to one you are going to be treated as Owner Builders and this may not even be possible depending on which State you are in.Either way on a financing perspective forget it.2)…[Read more]

Hi JeanWithout being funny any LTO Contract you draw up the Seller is going to want his Solicitor to redo it.Better of finding the property and a co-operative seller first rather than working backwards. 

AdamWe are going back a year or two to say the least but i used Tribeca.Dont now what they charge but sure they have a website.

Think he is going to have a problem with Centrelink under the gifting provisions. 

I own a block of 18 units in Taringa 14 x 1 and 4 x 2 and they are fantastic.Rarily get a vacancy in any of them. 

Hi CassYou will possibly get away with 5% deposit as long as everything is ok such as credit and employment history.Depending on what State you are you might qualify for a concession on the Stamp Duty so best to check the OSR in your State.Anything over an 80% loan to valuation will be mortgage insured and depending on the loan amount and the…[Read more]

Hi HarryI have just emailed you the report although the address came up as Kings Park and not St Albans.Guys in future can i get you to email me a request for a report as i dont live on the forum and may miss requests.

No worries easily done.

Hi RidigaNo not at all. That is not what i said or meant.What i was referring to was many forum members are under the impression that if they can convince the Vendor to leave in say 10% of the purchase price plus costs in the deal and take security by way of second mortgage they will be able to finance another IP.Assume purchase price was $100K…[Read more]

Hi BenCertainly from a lending perspective the population is comforting and the relative distance to a major City is a positive.As long as the property is sound and does not need too much work to it and can be rented and managed by a local agent certainly worth exploring further.If you want me to run a free Residex report for you shoot me an email…[Read more]

Mhh not an easy one both from a moral and lifestyle perspective as well as financial one.Firstly bear in mind that when you rent the property out the only interest you will be able to claim will be the interest on the current loan secured against the Brookfield property due to the "Purpose test". Unless you father is in a position to pay you some…[Read more]

Hi CassDifficult one to answer however i have to agree if you can find value in what you buy i would be buying sooner rather than later.Of course the First Home Owners Grant Boost has assisted many first home buyers get into their home sooner and the reduction Dec 31 will have an effect.Personally to assist in financing the deal i would merely…[Read more]

Hi HarryI wont comment on the areas being a Qlder (although in saying this happy to run you off a Residex report on any property you find if it helps) however one thing to bear in mind given your potential circumstances is how to structure the loan.There is no point taking out a P & I loan and going hammer and tong to pay down the debt when in a…[Read more]

I am with LC not just ease of rent but sometimes ease of finance.Of course in saying that a 1 bedroom that is say 45 Sq M or more can often be very attractive for a single person and if you can find it at the right price risk exposure is limited.Happy to run a Residex report off for you if you have a address you want looked up.

Hi LisaProbably need a little more hard data but there are a couple i can think of that we deal with regularly for clients.Some have easier credit terms than others.

Hi JennyThose lenders that offer that charge a higher rate to compensate for it. Not worth it.The days of having it waived at that LVR are long gone. However get your Broker shop around as LMI rates went up 20% last week with some lenders passing on the full amount.

Hi MariaHate to say in the current climate this is a difficult one.Most lenders wont go past 90% LVR these days (although there are still a few doing 95%) but you will still need to access the deposit and acquisition costs.Course nothing to stop you purchasing the property as a PPOR, claiming the FHOG, satifying the FHOG conditions and then…[Read more]

Hi LisaYou have to be kidding me. Someone want to charge you $4000 to set up your loan correctly something that the average Mortgage Broker does for nothing.Also how partial can they be if they are coaching you in what to buy.You are totally correct about the SGB offset account when the property is a PPOR. Also another big disadvantage with the…[Read more]

Hi WiseI am hoping he or she didn't suggest the following to you:* have all income paid into my mortgage* when ready to move O/S I took the funds needed out of my redraw. rented it out, and got the rental income paid into itIf so you have major Tax contamination issues. The loan interest clearly fails the purpose Test and therefore will not be…[Read more]