Hi there You would merely go back to your lender and request additional funds to cover the costs of the renovation.Given the equity you have and dependant on the costs of the renvation you should be able to access the funds upfront without having to have first completed the work. Alternative is to get the builder to provide you with a quotation…[Read more]

MaxPossible what is the post code ? and is it normal sized block. A little bit more information and I can easily tell you whether it is doable.

SMSF = Self Managed Super FundAnd Yes DFT will give you good Asset Protection.

Even better to buy it in your SMSF as if you hold the Asset for 366 days it is only taxed at 10%.

Have to say I disagree about the fees and interest rate being higher on lodoc although of course this may not be required.As Cameron stated think it is a matter of switching brokers.

Fact is that they advertsie on the Brisbane Radio every minute of the day and If i hear another comment made by "Michael" telling me he is helping every day Australians to own property for $20 / week i will spew.I see recently they had to amend their advertisement to say that the do not provide financial advise or have considered your individual…[Read more]

Must admit i dont know a lender that operates this waythe bank will consider your $35,000 deposit less the full limit of your cards borrowing capacity which in the example I gave above would leave you with a deposit of just $25,000 to a banks thinking.Most lenders will take a percentage of your credit card limit (Usually 3%) and this will be…[Read more]

I find that hard to believe.Not all brokers are wet behind the ears.

That will give you a guide however as i mentioned earlier each lender charges a different rate dependant on who they use to cover the loans. Both the LMI companies offer different rates to the lenders dependant on volumes.Yes for a 90% LVR you are looking at around 1% of the loan amount. This would increase over $300K of course and again over $500K.

JimFirstly must say i have never heard of Red Rock Mortgage although i am sure they have never heard of me either.Just be careful when companies tell you they will do Nodoc deals anywhere as in most cases they need to be mortgage insured and the Mortgage Insurers will not do deals outside certain post codes or where the property is not zoned…[Read more]

ChrisEach lender and both of the main mortgage insurers has a different scale however use check out http://www.pmigroup..com.auas this will give you a guide.

Hi PaulaIf you are looking for a great property Accountant on the CG feel free to contact my Accountant and good personal friend who is a partner at the Gold Business Group – Southport.His name is Steve Hodgkinson and he can be contacted on 5532 2855Tell him i referred you as most good Accountants are not taking on new clients.

ChrisLMI is based on a combination of 3 things:1) Loan amount on a scaled basis 0-$300K / $300 – $500K and $500K and over.2) Whether the loan in interest only or prinicpal & interest.3) The LVR.The post code of the property is also a major influence on whether cover can be provided or not.The premium is based on the advanced amount as a percentage…[Read more]

I agree with Simon but remember if you buy renovate and then onsell your broker will have all of his commission clawed back normally if this happens within the first 12 months.Might want to be honest with him upfront as Brokers earn their living from arranging finance and you wont get the same level of service if he / she thinks they are having to…[Read more]

Must admit i am not aware of any but this day with the electronic age location is certainly not as important as it used to be.I have clients all over the world let alone Australia and very few of them i have actually met up with.Sure it is nice to sit down with someone over a cup of coffee now and again but sometimes life is too busy for that a…[Read more]

hugobGot to be honest wouldnt be my attitude at all. I would checking out the small print before you get to Letter of offer stage as most securitised lenders charge application fees and certainly valuation fees.Why would you put yourself through that only to read something you could have found out at the start of the process.

Hi NattaciaI think time is against you on this one but certainly I would not be crossing the securities.Why not just settle and then immediately look to restructure elsewhere. The other thing is the market valuation and Bank value are miles apart. You are not currently with the NAB or CBA are you ? If so that is why.Would need a little more…[Read more]

As Simon mentioned due a few checks before you jump in.The interest rate is not everything especially when you are talking about a mortgage insured loan.Do you have to go Nodoc – are you sure ?Remember to make sure you tell about the 2 units on one title as the mortgage insurers are very funny about that at the moment.If in doubt get a second…[Read more]

BarneyHate to disagree. Built our portfolio on Installment contracts and they give you a darn sight more than $50 / week.

XeniaYou will loose 0.25% of the purchase price.