90% LVR available at 8.30% as long as you are self employed > 2 years and registered for GST and can declare an income to service total indebtedness.LMI is around 3% + GST + stamp duty and Bank applic costs around $1250

Whilst not wanting to shoot myself in the foot i cannot see any reason why you would see a financial planner first but more a mortgage broker especially one with property investing experience.A good MB cannot not only make a recommendation for you for the first loan but start to map out a path for your future investment. He can also look at your…[Read more]

If you are looking at avoiding LMI then you will probably need to keep the LVR to less than 80% and without actual figures it is hard know whether the available equity refers to 100% borrowing or 80%.If we assume your valuation is $775K on your PPOR then 80% of this figure would be $620K less your existing loan of $335K giving available borrowing…[Read more]

I agree with Alistair i would always be suspicious on a broker who guarantees a copy of the valuation as it means he will not necessarilly be looking after your interests. Altenatiely he could be using a branded mortgage product where instructs the valuation and is marketed under his brokerage.A good independant MB will use a lender who is best…[Read more]

Look i am not having a go at any of the authors who have have answered already but just be careful in whose advice you do take.Firstly the equity in your property is the difference between the valuation and the amount currently owed however that is not say you can utlise all of this amount. Normally you can use between 90% – 95% of the available…[Read more]

ChrisCertainly on a serviceability perspective you are not over extending yourselves however i am slightly concerned when you mentioned that the loan on both is $378,000.I am assuming that you Bank have cross collaralised the loans between the 2 securities (which may effect you down the track) but do hope that the loans are totally separate. If…[Read more]

As Terry you would want to ensure your Trust Deed was vrey carefully worded given the PR's coming out of the ATO.If in doubt use a Unit Trust structure.

Just to correct a couple of the facts from the previous post1) Is there a minimum time limit I have to reside in the property to get the FHOG?  From 1 January 2004, at least one applicant must occupy the home as his or her principal place of residence for a continuous period of at least 6 months, commencing within 12 months of either the date of s…[Read more]

Dont foget guys  https://www.donotcall.gov.au is now supposedly up and running and takes effect in a couple of weeks.If it doesnt crash it is worth registering yourself. Any broker that is forced to use tele-marketing gives you an indication of the sort of business they run.

You are right there a fair few who dont and many of the majors who really dont understand the concept of an HDT.In saying there a few good lenders who have no problems.

Superanuation funds CGT at 15% unless the asset has been held for 366 days and then the rate is reduced by 33% to 10%.

Hi thereYes many lenders do. It is like saying how long is a peace of string.Each client has different requirements and circumstances so tailoring a product to suit is more appropriate.Post some further information and we can assist.

Property inspector wont do you much good but if you need a good valuer then try Herron Todd White.They have offices that cover both North and South side of the city and have a well accepted presence with the major lenders.

A simple Company Search will show the registered address of the Company.Even if this is at there Accountants / Solicitors office the Directors address will be noted. 

Regretfully not. At that level you wont get any lender take a 2nd mortgage unless they do it as a personal loan.

SGB are usually 6 months like most of the majors but in saying that i have just had one approved in 4 months.Remember SGB self insure so the LMI problem is only limited to them and them alone. Your MB should have pointed this out to you before recommending them. Most lender will go to 95% with the big 2 MI's.

The fact that you have bought under a Corporate Trust structure will have no bearing on the GST caluation as you could have purchased indivually and registered for GST and still claim the Input credits under the Margin Scheme.The bigger issue would have been the potential Capital Gains Tax. Had the house been purchased in your individual names…[Read more]

Personally my opinion was similar to Luke's.Why buy something from someone that obviously has little personal experience in the market and probably has never himself purchased in the US.Why not use someone with vast experience and a great business model like Chad Simmonds from Melbourne who really adds value to his investors with his actual real…[Read more]

I dont see a Nodoc loan being a problem but only issue would be the security for my mind.How small is the unit. If it is a studio and less than say 50 square metres i think we might have an issue.

Remember each lender has different serviceability criteria and what one Bank says you can borrow another may say you can borrow double that.Nodoc loans are available upto 80 or even 85% these days without declaration of any income and Lodoc loans to 95% LVR.There are so many ways to work out borrowing capacity it is not funny these days. Lenders…[Read more]