The lender is RAMS and is available to every broker under the sun.Just check the LMI as it isnt cheap.

The lender is RAMS and is available to every broker under the sun.Just check the LMI as it isnt cheap.

Hi InvestAt an 80% LVR even if you are on probation we wouldnt have a problem with a major lender.Only problem with those lenders who mortgage insure every loan irrespective of the LVR is that the the mortgage insurer will not take the loan whilst you are on probation.

Firstly welcome to the forum.With a reasonable cash deposit you have the opportunity of being able to purchase a property or two and enjoy the rental yields they bring with them especially with minimal or no gearing.Your marginal tax rate will determine whether you can claim much in the way of negative geared benefits especially non cash d…[Read more]

Hi YewAnz / Bank West and a few others offer a Lodoc 60 but the borrower is still required to declare an income.Not sure this would be suitable given the request for a Nodoc style loan with no income declaration whatsoever.Nodoc 80% is available or Nodoc 85% on a blended rate.  

Which State are you referring to.If it is Qld never use the "Cooling Off" period to terminate the Contract.

Which State are you referring to.If it is Qld never use the "Cooling Off" period to terminate the Contract.

Hiya WhipWelcome to the forum.Regretfully neither SGB, Westpac or any of the major Banks offer Nodoc style loans as this is the domain of the securitised and specialist lenders.If you father is self employed and has had an ABN for 1 day we should easily be able to obtain a LVR of 70% for him.With a bit more information i can give you more details…[Read more]

Why not try another lender ?

Sorry that last post should have read "isnt particularly attractive" ……………

James Shoot me an email and I would be happy to provide details.As i have already been asked the interest rate at 8.95% is particular attractive in saying that for an investor the interest is deductible so lessens the pain somewhat. Just appeals more than paying out nearly 4% in LMI premium.

I agree with Alistair and whilst he is unlikely to tell you he is a mortgage broker based in Melbourne and well respected on this forum in all property related matters.Dont think you can go too past giving him a call.

Once the Bank have been granted the Possession order it would be immediate.

Yes it has been the case since July 2000.

Hate to disagree with a new comer to the forum but you are not correct with this statementAlso, FHOG rules clearly eliminate you from claiming it if you or your spouse/partner have ever owner any kind of property in Australia. You can't get it even if you've only owned an IP.  It's not the 'First PPR Owner's Grant'  (sadly).A person is not eli…[Read more]

I understand Alistairs words of warning and agree with him but think every client is slightly different and has different needs and requirements.One of the EMF deals i did was for a client who wanted to buy in Noosa and couldnt afford waterfront on a traditional loan but using EFM could. They were happy to part with 40% of any future profit as…[Read more]

Hi PeterYou are right with an early repayment fee of upto 1.2% of the loan amount if more than 50% of your loan is repaid within 3 years and 0.6% for 5 years you are really in for the long haul as you could not afford to refinance away.

Hi ElkaThere are several ATO rulings on HDT which are totally different to the question being raised here.In simple terms let us assume that you own your current PPOR valued at $300K with no mortgage and wish to rent it out and at the same time want to buy another house to live for 300K as well. If you borrow the $300K to buy the new PPOR…[Read more]

I would let your Accountant organise the finance as i am with your Bank.They would stand no hope in repossessing the property in the event of you defaulting on the repayments as the Court would argue that their was no beneficial interest in the Guarantor in proving his Guarantee and it could not therefore be relied upon.Third party loans are…[Read more]

You friend has little alternative as the agent is correct if the loan is not repaid and the vendor has not made arrangements with the lender to clear up the possible negative equity then they will not release the mortgage.In saying this if your comment about the Bank taking the house in 2 months is correct the vendor would be severally in arrears…[Read more]