As Terry mentioned why would you not hold the savings account in Trust as an offset account against your loan account.

I wouldnt ever use Suncorp unless you have the odd month of your life to spare.They would have to be the most useless lending bank out there in terms of administration and documentation.A BDM who never gets back to you and all the promises in the world get you nowhere.Oh and by the way they dont accept finance on wraps.

Anz will certainly go to 95% LVR on a refinance we do that often.

Regretfully Not.

Why not hold off until you find the new PPOR you wish to live in then sell your existing house to your Trust and claim the interest on the  full 100% off the Transfer as a tax deductible expense.Use the funds raised as deposit on the new PPOR thus reducing your non tax deductible debt by the same amount.

TerryOh sorry to keep you in suspense. It is  new US player that hopes to be in Oz within the next month.Their name escapes me although I only read it yesterday but they make Gemworth and PMI look like small fry.

Just what we need another ad.

Welcome to the site and I hope you find the resources helpful.If in doubt post a question in one of the forums and I am sure you will receive some constructive answers.Happy investing along the way.

Hi EIn answer to your questions1. I understand from previous posts that Lo & No Docs are often postcode limited. Is there an accessable list somewhere to show which postcodes are ok? I know this probably varies by lender, but it would seem to make sense to have access to this before looking too far into a particular property or even an area. A)…[Read more]

Most of the Retail Banks are required to charge LMI where the loan is > 60% and the loan is done on a Lodoc basis without proof of income.All securitised lenders mortgage insure every loan irrepsective of the LVR. Most absorb the premium into the interest rate and charge a higher rate however some still charge the LMI even if the LVR is 80% and…[Read more]

Hi thereIf the percentage is less than amount then the Lender will often pay the mortgage insurance.This is not actually the case. There are ocassions where the loan is > 60% when the lender will require the borrower to meet the premium.When you consider that the mortgage insurer carried the eventual risk and not the lender it is not suprising…[Read more]

PeteGeorge maybe all 3 but he is not a property manager.

Current interest rate is 8.20% and Yes the loans are post code restricted so as long as that is ok then no problems.Certainly a bit more fussy over documentation but all in all very useful.

All depends on the size of the property you are looking to purchase, individual break up of incomes and the size of the loan on your rental property etc etc.

No rights to get the truth whatsoever.The Vendor does however have the right to demand a copy of the Building & Pest Inspection report if they decided not to proceed on this basis and as this was obviously not forthcoming one can only assume that this was not the sole reason for the deal falling over.

EricThe product is open to anyone Mortgage Broker who deals with Adelaide Bank.As I mentioned the first deal in Australia was settled on Wednesday and was one of our clients from the forum here.They have already been interviewed by Rismark and this by Today Tonight.Regretfully a couple of the post statements you have made about the product have…[Read more]

Mark Scenario 2 is correctHouse worth $330 00080% is $264 000minus loan $130 000Amount available $134 000remember many lenders go past 80% on a Line of Credit.

8.2% variable

To answer your questions:1).Does the commercial purchase sound reasonable? Also does anyone know if a 85-90% LVR is possible for commercial? (doesn't matter if not, just the bigger the loan the better the tax deduction).A) LVR that high is unlikely without secondary expensive financing. 85% LVR is possible as long as the property has a good tenant…[Read more]

If she doesnt earn much how is she going to qualify for the loan ?