Depends now if you can go full doc. If lodoc is a must you can discount any lender that insures with QBE PMI as they have stopped providing cover on refinances.With Gemworth they require last 2 BAS with most lenders.

Sounds like they may have cross collateralised the loans across the 2 properties.Not sure i would be doing that.I would be telling them to take the new property as sole security and lend against this or you will take your business elsewhere.

Mike in the case of a Commercial property then as long as the yield is sufficient you will be ok from a servicing perspective.It is not serviceability but lvr will be an issue here.

Terry is correct and i think this provides some of the answers to the question i raised in the finance section.PMI QBE are not even providing cover for lodoc refinance so that will count out all those lenders who use them as their mortgage insurer. Gemworth as Terry has pointed out limit the amount of cash out and also require BAS so again you…[Read more]

A week i think he or she is optimistic.Will depend on a numorous factors such as purchase or refinance, property location, lvr, loan amount, the list goes on.Have had 2 lodoc loans approved in 2/3 days this week however in saying that have one with Rams which is 21 business days and still going. Depends on so many factors.

Admitedly Anz credit policies have tightened (Even yesterday they amended servcieability criteria again) but this is the case with most of the majors.Must admit i think you must have just been dealing with the wrong person at Anz as I am sure if credit or the local State Manager new they were going to loose the deal they would have allowed the…[Read more]

Hi Mr MYes you are now able to borrow in your SMSF to purchase both residential and commercial property and subject to normal commercial arrangements are able to lease the commercial property from your fund. (Please note this is not the case with residential property).In saying this for a commercial lend you are limited to circa 70% lvr meaning…[Read more]

Certainly Bond Rates have started to move back up the curve hence fixed rates have started to rise.

Well i must admit Phil Anderson did retire a year younger from property than me so i will give that to him.And great first post volitans will you be contributing any more or are you the Lifecorp plant who wqas sent in to make your first post.Thankfully you have no knowledge of me or my business or otherwise you wouldnt make such comments.

Your combined incomes have no impact on the level of lvr that you could obtain only the total amount you can borrow.

Hi HeathUnfortunately you will not find any lender in the current climate lend more than 95% of the purchase price / valuation which means you need to come up with the 5% deposit plus acquisition costs.Even the number of 95% lenders is becoming a thing of the past as most are moving back to 90% LVR.

No problems Slacker.Let us now if we can help further.

Hi JennyDepending on the to whom they were in favour of and the number of defaults you may find getting a loan in your name harder than you think so Yes if they are prepared to allow you to utilise the equity in their property this would be a good idea.You may even require more than 20% deposit depending on the information above so they way it…[Read more]

Yes you can arrange a Line of Credit with Adelaide Bank although must admit the interest rates arent too flash.What you would do is get them to give you a LOC to say 90% of the property valuation and then use these funds to cover the  deposit and acquisition costs on your new IP. You would obtain this loan from a separate lender.There are still a…[Read more]

2C if the property is transferred into Trust you will pay Stamp Duty on the date of Transfer and not again unless the property is transferred to another entity.If paid now and you keep the property for 10 years and then sell it you only pay it once.

95% Plus LMI is still around also although it is not

95% Plus LMI is still around also although it is

95% Plus LMI is still around also although it

95% Plus LMI is still around also although

95% Plus LMI is still around also