XpineAs this was before yesterday decision by SGToday French giant Societe General have pulled the plug on funding many smaller lenders in Australia including:Members Equity / AMP / Resimac / and a host of smaller mortgage managers.Guess the lending market is getting smaller by the day.

KrisDepends if you have any personal non deductible debt.If yes then borrow the full 100% + costs and use the 10% you would have used as deposit to pay down some personal debt.If no then it is upto you. Personally i would go 100% borrowing and use the 10% to place in an offset account in case i needed it for another buy.

As a Director of Qlds largest provider of Vendor Finance with First Home Owners Group Pty Ltd I like to thing all of the deal we have done over the last 10 years have been ethical.Only yesterday i was checking out an interest rate for a credit imparied client wanting to go lodoc on a rural property to be quoted 14.75% by 1 non conforming lender.…[Read more]

In 87 i worked for Chase Manhattan in London (as it was then) as a Currency Trader on the trading floor.Several broking houses lost millions and stories of stockbrokers jumping out of first floor windows were abound.In 87 the factors were different than today with the mums and dads bailing out but largely the fund managers and professional t…[Read more]

The introduction of Short Selling was the best thing that ever happened to a Trader / Investor as you can play both sides of the market.One thing is for sure you make money quicker on the way down than you do on the way especially if you are on the right side of the market.

Lodoc maybe different but not Nodoc.Easiest thing is ring them ask them.All I am going by is from the information release they put out to us Brokers.

Having spent over 25 years in the markets and 9 years of that in the UK on the Trading Floor in London this Bear market (And Yes i was there in 87) is not like any seen before.Many young and inexperienced investors have never seen share values fall as quickly and this time around it is not only the mums and dads who are running for the hills in…[Read more]

Yes it would be a ME issue as this si not the norm.The circumstances under which you withdraw upon your Super are extremely limited and extreem hardship is one of the cases. Switching lenders and getting a better LVr would be easier. 

Why do you have to sell the property why not just sell it into a Trust structure and pay the additional stamp duty and possibly any GST. At least this way you will still own a property you now without having to pay selling agents commission.Unfortunately you will not be able to switch the securities or pay down one loan and borrow the same amount…[Read more]

Yes only top ups to existing loans are being considered with no new lending.They closed their doors last Friday and the State Manager tells me that future deals need to be done on a full doc basis only with Nodoc / Lodoc products being withdrawn.

I am unsure as to who your current lender is and without a bit more information it is difficult to assess.In saying this with the equity that you have the finance should fairly straight forward but as I mentioned more information is required.

Would attempt to provide you Financial Advice on a forum without a full needs analysis.If the profit was made from an investment property however remember you may incur a CGT liability which will be due at the end of the year but can be deferred into Mar 2009.

Hi BrunohSorry to be so vague but you havent given much information away.if you want to part with a little more we can offer some structured suggestions.

Talk about typing to quickly.Swap that Repaying with Remember

Repaying the important date is the date you sign the contract and not the date you settle the property sale !!!

Yes for Tax purposes undoubtedbly IO + 100% offset,

Hi EttyWhere is the property based. If it is in Brissie i might be able to help you.

If that is the case jensta i would be switching brokers.

OzPersonally you would be a fool to bluff a vendor and threaten not to settle.As has been mentioned you will loose your deposit and run the risk of being sued for specific performance.The Vendor has the right to resell the property and you are then liable for the difference in purchase prices.I have had a couple of purchasers over the years try…[Read more]

No worries Zayne.Have just answered it.