MattIf the calculator asks you to put in your existing liabilities and you enter these then the 900K is the additional borrowing amount.I am suprised you found too many lenders agree to finance a wrapped property in the current climate.

No lenders will not be prepared to lend where your deposit is coming from vendor finance these days.

Hi JohnThis is a personal opinion and everybody has different requirements.Mine is very much to add value and then keep for the long haul to maximise rental income.

Hi AndyYes anything under 50 sq M it is a real concern and depending on the post code (lenders dont like real inner city unit) actual size and whether it is a studio or 1 bedroom unit will determine:1) Whether it can be financed.2) What ovr you can go upto.Unfortunately anything under 35-40 sq M probably wont qualify for LMI so definately a loan…[Read more]

No i am sorry matkat lodoc 95 was withdraw 9 months ago and maximum lodoc is 80% lvr.There are still one or 2 lenders offering 95% loans and one recent lender announced they are reversing the trend and doing away with the genuine savings requirement.

JohnMight want to read the article i wrote in this months API mag.

JohnMight want to read the article i wrote in this months API mag.

Perhaps one of the Mods can clean this poster up.

Perhaps one of the Mods can clean this poster up.

Perhaps one of the Mods can clean this poster up.

Perhaps one of the Mods can clean this poster up.

Hi ApuFirstly welcome to the forum and I hope you enjoy your time with us.A good buyers agent can be worth their weight in gold and many of my clients use services of such to find and research their properties so money well spent.With regards to a good mortgage broker remember that most of us are paid a commission from the lender with whom we…[Read more]

I always find it amazing that after such a question we always get a response saying how wonderful such an organisation is from a first time poster and then never hear from them again.

I agree with Dan.Also bear in mind before you make the jump that many lenders are tightening up credit policy when it comes to Trusts and Corporate Trustees. The old days of getting a nice interest rate discount or paying a reduced application cost have almost all gone where there is a Corporate Trustee involved. Many Accountant dont take this…[Read more]

Regretfully not unless you can get a private unsecured loan for 20% that you can deposit into your savings account prior to making an application for finance.Even if you were a resident you are requiring 10% deposit in most cases for a financier to consider the deal and 5% of that needs to be genuine savings.

Yes you will need to fund the shortfall yourself.

EricYes read it. Stand to be corrected.Think it is the best thing since sliced bread.With 45 IP's i dont think any of my tenants will be going anywhere in a hurry and the investor business should really start to boom again.

EricWould you like to have a small wager on this Obviously, the FHOG will be ending this 30th June anyway.

MattLender is FirstMac.

As Terry has mentioned 100% loans are a thing of the past and after Westpac announced the withdrawal of  their 95% LVR yesterday that leaves only NAB out of the majors who will consider more than 90%. (I am advised that NAB will withdraw their product within the week).As a non resident regretfully what you have told is correct with a maximum…[Read more]