Sorry Josh you are much mistaken as NAB certainly won’t look at a residential loan on 4 units.

There is 1 lender I am aware of that will look at 5 units on a residential basis subject to location of the block but in saying that a Commercial loan can often be charged at the same rate as a standard variable rate loan.

Cheers

Yours in Finance

Personally I don’t have an issue with any of the suburbs mentioned and in fact would be up there with some of the better areas in that mid price range for Brisbane.

In saying this as Jacqui has mentioned you need to decide if you want a particular yield in mind or are prepared to sacrifice income for potential growth.

We source property in SE…[Read more]

Hi Landt

Without the full numbers it is difficult to ascertain whether the development cannot be funded.

I would need a lot more information to provide a more structured response.

Cheers

Yours in Finance

Corey is correct about pre-approvals.

I had 2 forum clients ring me on Friday to ask me how they would go with their OTP purchases which were supposed to be complete by the end of this year. Regretfully had to tell them as it stood they would not qualify.

I am sure there will be many more clients in the same boat.

Going forward all investors…[Read more]

Hi David

Yes sounds to me like you need the services of a property orientated mortgage broker / financial adviser.

Cheers

Yours in Finance

That wont do you much good.

You need to investigate their Credit Policy and you wont have access to this.

Cheers

Yours in Finance

Sounds to me like you are jumping from the frying pan into the fire.

A rate might sound great on the surface but one day you might want to access equity in your property or increase your portfolio.

Starting with the wrong lender from day 1 isn’t going to improve the situation.

Cheers

Yours in Finance

Depends on the lender but getting an investment loan > 90% lvr these days is getting harder as well as more expensive.

Cheers

Yours in Finance

Hi JS

Think of an offset account as a separate savings account linked to your mortgage.

Interest is charged on your initial loan each month but in turn you are given a credit for the funds in the offset savings account. You end paying interest on the net balance.

Assume you owe $300K but have $50K in your offset you will pay interest only on…[Read more]

My partner Jacqui (JacM) from the forum is Melbourne based.

Feel free to email her or look up her number jacqui@tayloredfinancialsolutions.com.au

Cheers

Yours in Finance

Big difference between renovation and maintenance.

This might give you some ideas.

https://www.washingtonbrown.com.au/property-news/property-renovation/

Cheers

Yours in Finance

Hi Kassie

Welcome to the forum and I hope you enjoy your time with us.

Unless your Accountant is licensed to provide Credit advice he cannot talk to you about lending options so a property focused broker is the way to go.

You mention you are looking at paying down some personal debt so not sure if you have factored this in to get to a 90% lvr…[Read more]

Ah Yes that extra $20-$30K we forgot to mention was our commission on this wonderful property suggestion we made.

What a load of rubbish.

We bought a property for a forum member as Buyers Agents earlier in the week and the property was constructed in 2011.

Given that construction costs have barely changed in the last 4 years the amount of…[Read more]

Hi Brett

Welcome to the forum and I hope you enjoy your time with us.

If you shoot me an email I can send you my interview I gave the API magazine on how I retired at 40 living off my rental income from property.

You need to apply a number of strategies going forward but you have to start somewhere.

A simple Buy & Hold will get you moving but…[Read more]

There are many factors to consider as the features required for an IP loan are different to a PPOR loan.

The 3 lenders you have mentioned are not ideal for a rate sensitive client and I am sure you could do better.

Would be looking at 3 separate applications especially if you can get some of the fees waived.

Cheers

Yours in Finance

Hi M & S

Firstly welcome to the forum and hope you enjoy your time with is.

I have to say I think your existing Banker / Broker was certainly not looking after your best interest if they have advised you to X collateralise the 3 loans into one.

This is something we rarely would recommend for a client and in fact I have written a couple of API…[Read more]

Been a few more changes since then Harry as Jamie and I have mentioned in the other post.

Cheers

Yours in Finance

Alternatively Jamie those with a few IP’s who decide to buy their own PPOR will now struggle to do so.

Cheers

Yours in Finance

NAB change 5th June.

Cheers

Yours in Finance