If you worked on say 6.25% (probably be a little less but a good start).$225,000 x 6.25% / 12 = $1172 / month. 

Wouldnt use a DFT as NB are not available. May consider a Unit Trust.

Yes full doc loans are still available with the income of the Trustees and or Directors being considered.

JaffaI am sorry to hear about your BIL's illness.Have a look at Superanuation policy as some of these include a built in Trauma cover which could mean he could be entitled to a lump sum now to ease the financial burden rather than having to wait until he passes away.

CarlnOther lenders have alternatives to LMI which may prove cheaper and allow you to go to 90%.

DanielWith many lenders the fact you are borrowing in a Trust structure with a Corporate Trustee makes no difference to their lending policy and 90 or even 95% LVR is achievable.Obviously this is not the case with every lender.

TWIMIDont worry about the time difference i just got off the phone from a client in the UK so now all about time difference.Your Bank will need to consent to any subdivision and will want their legal department to run over it.Remember once the subdivision has been approved you may not get separate Title to the property (Many Councils require the…[Read more]

Albert I think we all accept that many inexperienced Brokers or Bankers have absolutely NO idea when it comes to Trust structures and the reason why they are used however think you will also find many more experienced lenders are moving away from lending where certain Trusts  are involved directly as a result of ATO rulings.I talk with Senior cre…[Read more]

I got also got it and appropriately deleted it.

eclSounds like you are an Anz customer to me.There maximum LVR is 90% inclusive of LMI. Plenty of other options out there.

Or indeed most

I think most lenders will look for the 20% equity in existing property for 100%.No not all.

Being from Qld i can't comment on the areas but if it is anything like some of the cheaper suburbs in Brisbane these have the been ones that have risen in percentage terms better than some of the higher prices properties on what is considered a better suburb.At the prices and rents you have mentioned the properties appear to be neutral or even…[Read more]

Hence consideration needs to be made before you start trying to claim the property as a Home Office etc.

Morning TWIMIFirstly welcome to the forum and I hope you enjoy your time with us.CBA Colonial are like most lenders where the opportunity arises they will jump in feet first and cross collateralise every loan going. All sounds good when you sit down for coffee in the local managers mini office and he or she tells you the virtues of using them as a…[Read more]

You would have thought had it been that much of a bargain the agent would have declared his interest and purchased the property himself.Think you are wise to look elsewhere as there are bargains everywhere at the moment.

As i say under a 60% LVR there should be no problem anyway.

If the property is wrapped your partner will not receive the FHOG at settlement even if she is not classified as your Defacto.

Funded the odd RH which had been purchased by a specialist firm who were contracted to provide such services but as Terry mentioned doing yourself forget it.Better investments out there.

CazzI hope the Bendigo didnt just do a credit search after your telephone conversation but indeed got you to make a full written application and all signed  Privacy Act Authority.I am sure the previous Banks did a search on all 3 parties however it just depends on how Veda process the enquiry.As mentioned you should get your mother in law to ord…[Read more]