VicNo shortage of development funding available just the requirements are tighter and you need good asset backing and serviceability.Got a small 80% of GR LVR over the line this week for an established developer who was putting in Nothing. Had a standard 70% LVR on the land and wnated 110% of construction costs.Those developers who are highly…[Read more]

I have a small portfolio of 45 properties and have been buying in Brisbane since i arrived in 1993.I am so glad that i didnt hesitate back some 16 years ago because in SE Qld prices were flat and interest rates where high.There was no such thing as the First Home Owners Grant.16 years later with a LVR now of 13% i can pay the annual rates and land…[Read more]

Pssss Anyone wanna buy a cheap unit in Bulgaria.

No on a completed home your pay duty on the Transfer Price.

Vic, For all intense and purposes Nodoc and the majority of Lodoc refinances are a thing of the past now so if you are living off equity you have a problem.

Thnaks Nancy Does that include the airfares from Australia as well.God i wish you people would learn a little about the website you are posting on before you post.

Most of our IO loans with 100% offset are being done at around 5.10% variable so not sure there.

Will vary from lender to lender and will depend on your equity position and ability to service the new debt.

Howard cirumstances change and your loans need to be flexible to work with you.Imagine you live in your own PPOR for 5 years pay down the debt and then decide to buy another PPOR but want to keep the old place as an IP.You would need to borrow again to fund the new PPOR and of course all of the interest is now Tax deductible. Whats more the rent…[Read more]

And at the moment ask again tomorrow and it will have changed let alone by the time you settle.

If the property is valued at $440K you will be lucky to get 90% of that meaning $396,000 less your existing debt of $375,000.Of course if the lender deducts LMI from this figure it will be less.

You will not get 100% IP loan as you do not have 20% equity in your PPOR so will be limited to 95% plus LMI.If the new property is $400K then 5% will be $20,000 deposit plus acquisition costs.Depending on the State you are buying in this could be another $20K.If you look at raising some deposit out of the PPOR you will be additional LMI but if you…[Read more]

Hi GrantWont give you a lecturer on the wisdom of renting to friends but make sure you do it properly with a lease agreement and market rent. Personally if you are going down that path I would employ the services of a property manager as for a small monthly amount you dont have to be the one to chase your friend if payments fall behind.Secondly…[Read more]

Hi TerriRegretfully irrepective of the name change you are still a living person and the same one who purchased the property back all those years ago. This would disqualify you from receiving the Grant.As you are his Spouse he would be disqualify from obtaining the Grant also.Couple of ways to boost your borrowing capacity if you dont want to go…[Read more]

FergsServiceability is calculated in so many different ways with each and every lender but in essence the difference between your income and expenditure is the amount you have available repay a new investment loan.The catch is the what is considered as income and expenditure and this is the bit that varies considerably.

Hi OzOk thought it might have been amicable …..Problem even with Vendor Finance is that as you wont qualify for the FHOG most investors (I now i would for sure) would want a decent deposit to wrap a property to you.Then of course you have the stamp duty and other acqusition costs.

Cant recommend a Buyers Agent but Lee Doyle at LJ Hooker Caboolture has always looked after clients of mine well.Might be worth a call as he knows the area well.

InvestSorry to be the bearer of bad news but on a total gross income of $32000 you will not be able to show serviceability to the level of  $270,000.Might be a way around it but would need some creative financing.

Ken Both are non bank lenders who will securitise their loans.Each loan will mortgage insured even if the loan is less than 80% LVR and they will end up managing your loan on behalf of someone else.Guess if all you want is a no frills lender without the bells and whistle then fine but in the fragile climate we are in most clients look for some…[Read more]

Davidi am unsure why your sister needs to have her name removed from the Title.It is not that she will benefit from the FHOG or stamp duty concession ? The rent or assumed rent may even increase her borrowing capacity.If she want to remove her name then she will be required to pay CGT and you tell her that she is to cover your SD.In saying all of…[Read more]