Pleasure michael as i said only an email away.

JasonSure subject to income you could go back to both of your current lenders and ask them to look at taking the loan upto 90% LVR and then use the funds elsewhere.Still a few lenders who will 95% lvr so all depends on the purchase price whether you would have sufficient.

Hi GomezCouple of points. If you are ahead of your repayments it sounds like the loans are of a P & I nature rather than Interest only. = Not recommended.To combine the 2 loans into one will mean cross collateralising the securities which again is not a favoured strategy.You would be better off keeping the loans totally separate linking the…[Read more]

Regretfully Yes you are dreaming.Why dont you use some of the equity in the 2 properties.  100K would go a long way to providing a deposit or two.

Hi bothThere is no time frame to stop you purchasing again immediately subject to the usual income, equity and deposit requirments.Not sure how you structured the first loan but we normally have our clients purchase using an interest only with 100% offset account and then get them to put their First Home Owners Grant and deposit into the offset so…[Read more]

Love the use of caps.Sorry Steve and you are who ?The open door policy is not quiet true. I have clients who signed a purchase contract subject to finance (which i managed to get declined as the property was $55,000 over priced according to the local agent and Bank valuer.) and the following day phoned PF to tell them they would not be going ah…[Read more]

NateMany lenders subject to LMI approval will go above 80% LVR.It all boils down to the security being offered and you the applicant.

Bank West will not do a lodoc construction deal in the manner which is required by the propertylearning.

Business loans are not as easily available as they were and will depend on the business itself.Many lenders now require property security unless the property is a franchise.Horses for course.

Business loans are not as easily available as they were and will depend on the business itself.Many lenders now require property security unless the property is a franchise.Horses for course.

Business loans are not as easily available as they were and will depend on the business itself.Many lenders now require property security unless the property is a franchise.Horses for course.

Racheal Do you qualify for the First Home Owners Grant ?

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Terry is right pay down the non deductible debt first.If however they do not have any personal debt and they dont need the Term Deposit interest to live on then why wouldn't they place the Term Deposit funds into an offset account.The effective rate of interest will be a lot higher than they are currently receiving and they still have immediate…[Read more]

Hi ChetnikNothing to stop you taking out a 95% IP loan sitting the balance of your savings in a 100% offset account and then using the savings plus your First Home Owners Grant as deposit when you find your own property down the track.

Hi DeanoFirstly where possible do not use your own cash as a deposit whilst you still have a non deductible home loan.You are better off to borrow the money so that the interest is tax deductible and use any surplus cash to reduce your non deductible debt. There are a couple of ways to do this.Utilise where possible the equity in your property to…[Read more]

No dramas Deano you now where we are lol.

Dan has the nail on the head.Regretfully no deductible interest by using the security and raising funds hence the suggestion of selling the property into Trust.

Hi MichaelYes the amount you mention should be sufficient to cover the deposit and costs.Probably the way forward would be to put in a limited amount of deposit (Yes i accept you will incur mortgage insurance) but link the loan to a 100% offset account. I would look to take the loan on an interest only basis to give you maximum flexibility.Stick…[Read more]

Agree with Terry keep things separate and simple.There is one Financial Planning franchise doing the rounds that recommend a big line of credit against of your securities and all you do is simple increase the limit once the properties rise in valuation.This is fraught with issues and certainly could not recommended by me.