Totally agree about incompetent brokers and if they do not own multiple properties then you probably want to move on to someone who does.As brokers we also get approached by clients wishing to scheme, lie and act in their own interest similar to how  franchesca  mentioned she has found a couple of her brokers. Recent legislation has tried to lim…[Read more]

106% LVR is only available within certain post code areas (which certainly dont include any smaller regional towns) and is charged at a higher interest rate through a securitised US lender.The product has many flaws for investors inlcuding high early repayment fees.100% LVR is available through standard australian Banks and is far preferable even…[Read more]

Hi EmilGlad we were able to assist.

Let us know how you go pirate as it will be interesting to hear what your Bank tell you about X Collateralising.

Hi CraigNo i dont like the lender for a variety of reasons but many lenders do similar.Both Citibank and SGB allow the loan statement to come out in the individual partners name although they all guarantee the total loan. You therefore have 3 splits each in a single name.

If your name is on the title to the property then they will not qualify for the FHOG.If it is purchased as an IP then they will still qualify for the FHOG when they purchase their own PPOR down the track .Tenants in Common is the cheapest way to go.

If your name is on the title to the property then they will not qualify for the FHOG.If it is purchased as an IP then they will still qualify for the FHOG when they purchase their own PPOR down the track .Tenants in Common is the cheapest way to go.

Hi PirateThe requirements for financing an IP will vary from client to client depending on numerous variable i.e client has a loan on their PPOR / interest rate sensitive / fixed or variable / offset or  basic / fee sensitive / buying in Trust or personal names etc etc etc.Without more information on your own circumstances it is difficult to p…[Read more]

Several options1) Purchase the property as Tenant in Common and allocate the shares according to the deposit.2) Purchase the property using a Unit Trust structure and allocate the Units according to the deposit.3) Purchase the property using a Pty Ltd Company and allocate the shares in the Company as per above.Remember whichever way they go the…[Read more]

Which State are you referring to ?Even though i would not use CBA even if they were the last lender in the world mainly because of x collateralise issues the fees seem about right. Remember the majority (with a couple variations) of these are State Govt costs and not Bank fees.

Ok. We do short term private loans on Qld securities depending on the rest of the information.

Which State is the property in Emil ?

broker even.

zizzuuYou certainly do not need 20% equity to obtain a 100% loan. You can get a 100% loan with 5% equity and the loan could be Interest only. Without being funny if your boker has told you this I woulkd be changing MB's.

As Craig has mentioned most Commercial transactions are done with clients using a Pty Ltd Company As Trustee structure so lenders are used to this form of borrower more so than the standard residential deal.Whilst many lenders will offer you residential rates if you offer residential security there are many competitive Commercial deals around at…[Read more]

I do not think you will find too much written about installment contracts.We built a business on positive cash flow but it is not for everyone.

If you have funds in an offset account use this to repay your PPOR mortgage and then the new IP loan can be taken out on the increased equity.This way the borrowed funds become tax deductible rather than using your own cash.Sounds like a NAB loan to me and if i am right hence the reason why the valuation has come in lower than you expected.Make…[Read more]

Cant comment but we always use and recommend http://www.depro.com.au/Never had any problems with them.Good luck.

No problems maree feel free to PM and I would be happy to answer any question you might have.

Hi MareeDont forget this day and age your mortgage broker can be located anywhere in the Country.Most applications are done electronically so with the wonderful technological age we live in email etc an application lodged in Darwin can be approved Melbourne for a client in Port Douglas.Remember if you are buying a unit that you inetend to rent…[Read more]