I would have thought it would be better served placing it into your offset account linked to your home loan.

Hi RanjitThere is no real need to approach a separate Bank to finance each IP but what i would suggest is that you get your broker to structure the loans in a manner i have set out so that that are no crossed. Unfortunately, SGB are great lovers of X collaralising loans so with them it might be a tough exercise.Drop me a line if we can be of help.

BSI think Steve has clarified that statement in later press releases and accepts that you cannot increase your borrowing capacity by using a Trust or Company Structure as all liabilies need to be disclosed to the lender.In saying this you would be suprised in the difference in borrowing capacity between lenders and a good mortgage broker should be…[Read more]

Just on your broker have you told him that you will be renovating and then selling the house as soon as this has finished.It is just that his commission he / she receives will be clawed back in its entirity so they may not be keen on doing your next deal for you. If it isnt then it is likely the lender will have a early repayment penalty or…[Read more]

BrentYour serviceability will certainly not be increased by buying in a Pty Lty Company and being Guarantor.There is no difference in the amount you can borrow as the applicant as an individual or as a Corporate Trustee.

There are a few lenders who will do a Nodoc loan for expats without any proof of income but you are more likely to be limited to 70% LVR.

CoryFunny spoke to him earlier this week as we have just had another loan approved for a client of his buying over there and no problems then.Now if you had problems with another forum advocate of San Antonio and Buffalo then i could understand why.

CoryI am sure there is 2 sides to every story. Maybe Chad will post a response.I know i have financed dozens of clients in the US that have purchased through Chad and are very very happy.

MattIt is all in the manner in which the loan is structured.Normal course of events would be as follows:1) Establish a Line of Credit against your PPOR to a level of say 80% of the property value.2) Draw down 20% of the IP purchase price from the LOC plus acquisition costs.3) Take out separate uncrossed loan against the security of the IP only for…[Read more]

The Stamp duty payable on the Transfer is added to the Cost Base of the property when you sell it.The Stamp duty payable on the Mortgage is deductible as a loan cost over a 5 year period or the term of the loan whichever is the shorter.

Wow stop right there Zayne.I must admit one of my pet hates is unqualified Bank staff providing Tax or Financial advice.Whilst you are able to claim the interest for an IP the method of raising the funds is the important issue.Certainly do not use a redraw facility and if the Bank suggest that you cross collaralise the loans steer well away.The…[Read more]

MooseOne of the downsides is the interest rate charged by the 2nd mortgagee.As their risk is higher the interest rate is higher. Most standard lenders dont like taking a 2nd mortgage behind another Bank and those who do will not go past 90% LVR.All depends on what you are after. I have many clients who are looking for a 90-95% Lodoc and are happy…[Read more]

Hi ZayneMortgage Insurance is claimable as it is a loan cost over 5 years or the term of the loan whichever is the shorter.Shop around as many lenders offer an alternative to LMI which can often work out cheaper.

The 3 main franchise lenders in Oz will not lend more than 70% LVR of the purchase price and all each case require a Guarantee from the purchaser or owner of the franchise.Non recourse loans maybe acceptable in Commercial cases where the lender can assign the rental income but again the LVR is extremely limited.

What LVR can Australian Citizens borrow in Dubai for Commercial property Paul ?

I certainly agree with Simon but would also say that i have also had a couple of other valuations back from client buying in Springfield in the last couple of weeks which have come in a little lighter than the purchase price.Who was the valuer. ?

Might want to check the forum rules before placing blatent advertising.The forum is here for the sharing of information and to help others not to merely flaunt services or product.

Moose – Bang on it is just that a Myth.Assuming we are talking about a private company no lender is going to lend to an entity whereit potentially could have zero security. As soon as the company sells down or disposes of its assets and is unable to pay its debts the Directors can merely walk away with no recourse.

Another paid Ad is trust.

BenNo you are right and I believe Steve has clarified this and accepted this in his later publications.