KeoWhich area in Brissie are you looking to buy in.Have a couple of excellent buyer agents contacts that offer an excellent service to clients.

Hi MichaelAs has been mentioned as long as the entry report and the condition of the property on the date of settlement is it was on your orginal inspection and the market rent for the property has not been subsided to sell the property then no you really can't go too far wrong.Your financier will be happy to hear that it is tenanted already and…[Read more]

Wow 9.9% i can see why you want to refinance. Was the deal a lodoc deal ?There are couple of things you could do depending on your current position in regards to other areas:You could always look to refinance and then make interest only repayments 12 months in advance so you can cliam the deduction in this financial year. Certainly a c…[Read more]

JackFine taking a 110% loan but make sure the IP loan is set up correctly and not cross collateralised with your PPOR.Your friendly Bank manager will suggest this is the way to go but he has interests at heart and not yours.Separate standlone loans are the way forward to avoid complications down the track.

Hi Terry When i was there (12 years ago) Banks paid around 0.4% commission and Brokers charged upto 1% Brokerage Fee. 

Dont agree at all. Certainly a few of the smaller less experienced brokers will fall by the wayside but i believe we will start to follow the UK & US system where it is standard practice for a Broker to charge an upfront fee as well as receive a commission.Although like Terry if Westpac shut up shop tomorrow wouldn't worry me in the slightest.…[Read more]

Dont agree at all. Certainly a few of the smaller less experienced brokers will fall by the wayside but i believe we will start to follow the UK & US system where it is standard practice for a Broker to charge an upfront fee as well as receive a commission.Although like Terry if Westpac shut up shop tomorrow wouldn't worry me in the slightest.…[Read more]

Dont think you will do that.

Yes NSL and why would you bother when you can get 0.8% without really trying if the loan size is big enough.

No there are a couple of lenders that offer lodoc / nodoc non resident loans.

Hi PhilipYes makes sense.One big downside with the Dragon Pro Pack is that the loan have to be cross collateralised.They will not change this…..and Yes i have asked and tried for clients.

shelFirstly welcome to Brissie and I hope the City has treated you well sinc you have been here.Many of the uni student apartments are small in size and overpriced in nature and funding a relatively high LVR will be an issue.With regards to purchase costs this will vary depending on the purchase price you end up paying but in essence in Qld we…[Read more]

Tell us what you are using and we can add to them.

Not that i am aware of off the top of my head.

I am with Terry no point in having the funds in an Investment Offset A/c with Anz whilst you are paying non deductible interest with the Dragon.Under a SGB Pro pack you should be able to switch all or some of the Portfolio loan to an IO with nil or next to nil cost.Set up the offset here and plonk the funds in.

MMay i ask where you are getting funding these days at 7.5% irrespective of the LVR.ARB Cash rate is 7.25%

ChrisIf one of the properties could be your PPOR and the other an IP it is imperitive that they be separate and that the loan structure be correct now and not then.Yes your lender will want them crossed and will explain to you all the plus points (wont take them too long) of why they should be however remember they are trying to protect their…[Read more]

I think new they were around $2300.How much did you wish to pay for it.

Hi CollieWe hear of clients each and every day having their loans declined on serviceability as lenders toughen up their criteria.In saying this remember there are so many serviceability models that the difference in what you can borrow between lenders varies considerably.To give you an indication of your borrowing capacity i would need more…[Read more]

Totally agree Terry.Even with the major Banks the lodoc rates and products vary so much especially when buying in a Trust or Company structure.Perhaps thats why the number of enquiries in this sector has increased.