Hi ShaunThats where the problem lies. You will be unable to access the equity in the properties with the present lender as the loans are fixed and no lender will take a 2nd mortgage on a X collateralised loan.Nodoc / lodoc is not an available option due to the lack of accessible equity.Sure feel free to call me tomorrow afternoon as i will be in all of PM.

ShaunWhat is the market valuation of the 2 properties ?Sounds like the existing rates are fixed rate products that is where your problem will be unless you have cash for a deposit on the next one.

Hi ShaunI did call you back so hopefully you got my message.Email me a bit more of a breakdown and I can come back to you.Unfortunately borrowing in Trust does not allow you to borrow more and i think Steve has clarified this point on a couple of ocassions. But for Asset protection and income distrubution, tax planning etc they are a must.Still…[Read more]

Hi ShaunI did call you back so hopefully you got my message.Email me a bit more of a breakdown and I can come back to you.Unfortunately borrowing in Trust does not allow you to borrow more and i think Steve has clarified this point on a couple of ocassions. But for Asset protection and income distrubution, tax planning etc they are a must.Still…[Read more]

ChrisSounds good.

SNMIf it is a Personal loan then why are mortgage insurers involved. Sounds like there is more to meet the eye on this one that first seems. Has he been rejected by both of the main MI companies.If the loan has been placed with a securitised lender then LMI is applicable even if the LVR is 50%.Sounds to me like the Broker has no idea on what he is…[Read more]

ChrisAs it is a fairly short term loan it would be development style loan so interest rate would be commercial nature.With everything to hand you would get funding in 30 days. Fees charges interest rate being Nodoc would depend on the valuation which i would need to see the contract first to give you an indication.Email me what you have and I can…[Read more]

ChrisI cant see a problem with a Nodoc land loan subject to the contract and valuation details.Presumably the Contract reflects your deposit paid etc ?Why has the purchase price not yet been agreed.

Hi SantoriniCongratulations on the decision. A Loc could be the way to go to raise your deposit and cover the acquisition costs however a few more questions would need to be answered first prior to making any form of recommendation.If you want to shoot us an email i would be happy to give you some advice.

ChrisI have read and then read your post and still confused. Can you break up the numbers for me again.What is the Contract purchase price.What do you need to borrow.Where are the Lots, zoning, size etc.What other security is available to take or is it a stand alone proposition.Interest rate will be high but doable subject to the above.

JonUnfortunately Anz lodoc not available with a Corporate Trustee over 60% and SGB not available on a Pro Pack in a Company or Trust name other than that all is well.

DaveYou are speaking to the wrong mortgage broker or Bank. Most of my investor clients operate within a Trust structure and they have never paid a higher rate of interest or application / ongoing fees.There charges are certainly at the high end of the scale and i have introduced many of my clients to very experienced Property Accountants who…[Read more]

Blake without being funny is this another scam.There is no such thing.Next you will be telling us your friend has applied and received the Grant.

95% or even 100% LVR is available on a standalone investment property purchase so as long as you have some equity in your PPOR to access the acquisition costs then you certainly have sufficient income.

Hi both Welcome to the forum.Do you want to tell us what you looking for and we can see what we can do to assist.Unfortunately cant recommend anyone particularly on the DD's but might be able to help if you wish to throw the net a little wider.

Hi MadYes i would like to think so.Neither your Fin Advisor / Accountant / Solicitor would have a clue about X collateralised lending.Shoot me an email with what you have any i can tell you the best way to set it up.

SimonYes to both.

MadYes i do volume business with Anz and find them very good to deal with. Only problem you may have is the local branch may have no idea how to structure the loan with x collateralising the securities. It is not an area they have experience in.

Depending on the entity you have holding your IP would determine the lender specifics i.e Pty Ltd / Trust etc etcI can think of a couple of Pro Packs from the 5 majors that would suit with a considerably lower interest rate and set up fees.

Wow they were not short of making money out of you.We charge around $595 for a standard trust and same again if there is a Corporate Trustee.