Very feasable indeed and have settled around 10 deals for clients.Loans are by way of an instalment warrant in the name of the SMSF utilising a Bare Trust and gearing can be to around 70% LVR for residential and a little less for Commercial.Interest rates are fairly competitive although the costs come in establish the Trust structure and Corporate Trustee.

The Dragon otherwise known as the fee fee Bank is a great one if you want to be charged for everything you do.The Banks products have changed dramatically over the last 6 months or so since they have been owned with Westpac and certainly we would struggle to find a reason to use them these days.I guess we would all like to now who is going to be…[Read more]

Didnt take RAMS longPlease be advised that RAMS has introduced the following changes to its credit policy for the broker channel:• The maximum LVR available will now be 90% (previously 95% LVR)• All loans where mortgage insured, will become "standard" loan applications requiring a deposit of 5% minimum genuine savings • Mortgage Insurance premi…[Read more]

Hi JadsYes you are not required to utilise all of your savings as a deposit.Many lenders have now cut back their maximum loan to 90% however still a few doing 95% LVR.You would be better of to look at a 100% offset account where you would get the best of both world being immediate access to your funds as well as an interest saving on your loan.

Get your original broker to lodge a further application and subject to everything it should be fine.

Another overpriced debt reduction mob charging an arm and a leg for something your average mortgage broker does for nothing.No never heard of them but if you wait then one of their employees should join the forum under an alias and tell you how wonderful they are and that they used them and they saved them 000's.

Another overpriced debt reduction mob charging an arm and a leg for something your average mortgage broker does for nothing.No never heard of them but if you wait then one of their employees should join the forum under an alias and tell you how wonderful they are and that they used them and they saved them 000's.

Up until 2 weeks you could have got 100% but those days have passed.There are many lenders away from the majors but they are still limited in lvr.

AjayNothing you can say or do will encourage the Banks to lend you 100% of the purchase price / valuation as they simply cannot get mortgage insurance cover on the deal.You can negotiate all you like with the 2 mortgage insurers and if you crack them let me now as i could give them dozens of deals a week. As i say even at 95% LVR you are pushing…[Read more]

As SNM has mentioned 100% loans are a thing of the past.In fact bar the odd lender 95% loans are also a dying breed.Thing the days of funding it with NMD have been and gone for the near future unless you have cash or equity to gear against.

I dont believe legally they can regulate what lenders charge for exiting a loan and even if they tried to lenders would incorporate it in some other way.Hardly going to make a loss on a fixed rate loan or similar where the cost of funds has changed and the lender has to bear the cost.

Agree with SNM as you wont find a traditional lender or mez provider offer such terms in the current climate.Your Broker may have investor clients who are after a deal if the terms are right.

Hi MickRegretfully no way of avoid LMI on a 90% lend with a traditional style lender and more importantly will they even fund the deal irrepespective of the LVR.You would probably look to use either a Unit Trust with a Corporate Trustee or a DFT with same.3 out of the big 4 Banks will not lend to Unit Trusts so they are out of you use that…[Read more]

Not without the sellers consent and if i was wrapping it to you then i would certainly never give you consent.Will depend on the individual Contract terms but very unlikely.

Hi BrenNo refinancing under lodoc is still just about an option as it is only one of the mortgage insurers QBE PMI that has decided not to provide cover on lodoc refinances.In saying this it will depend on the amount of "cash out" you are requesting and the other factors behind the deal i.e your stated occupation, property location etc etcAlso…[Read more]

Wow does sound like a lot of work.In the current market i would be wanting to have got the property for a complete steal to be undertaking such work for 10% less than the purchase price. I think i would be getting your Solicitor to say that given the work (and you can always provide them with a copy of the Building Inspection) you will make a new…[Read more]

KYWhy would the contrubution be undeducted ? Unless Mr M has made the maximum contribution for the year it wouldnt be.

Most of my properties in the west which is where i am. Indooroopilly, Toowong and Taringa are suburbs i own a few properties in.

Hi blueheelerI am assuming that you mean self employed for 10 months as if you actually meant employed i can think of a dozen lenders all else being equal that would have considered the application.I cant comment on Loanmarket but as a competitor you get will get as good information and advice as the person who owns the franchise. Like every…[Read more]

CUA are classic when it comes to Cross collateralisation.Stay put and you will be digger yourself a bigger grave for the future.