Hi Brizza

Bit more information needed to make the assessment accurate.

Single / married / credit card / Personal loan / How long has inheritance been in your Bank A/c etc etc.

For a gifted deposit then in the main you are going to be limited to 90% + LMI although couple of lenders who might still do 95%.

Cheers

Yours in Finance

All residential property purchased in your own personal name comes under the NCCP legislation so evidence of income to service the loan is a requirement on every case.

That is not to say every lender uses the same serviceability model and adopts the same assessment criteria.

You would be amazed the difference between the most generous lender and…[Read more]

All residential property purchased in your own personal name comes under the NCCP legislation so evidence of income to service the loan is a requirement on every case.

That is not to say every lender uses the same serviceability model and adopts the same assessment criteria.

You would be amazed the difference between the most generous lender and…[Read more]

Being an Australian property forum I suggest most readers would expect you to be selling Australian property.

If not post in the Overseas Property Forum where you will get a better response.

Cheers

Yours in Finance

Hi Rebecca

If you want to drop me an email I can give you the details of a Town Planner we use in Ipswich.

Calling the Council will be fine in theory but I hate to say Ipswich Council will refer you to 101 sections of the online Town Plan and tie you up in theory.

A Private Certifier will give an answer whilst you are hold.

The other…[Read more]

Hi Keldyn

Firstly welcome to the forum and I hope you enjoy your time with us.

Certainly you have the borrowing capacity and on the surface borrowable equity to restructure and go again.

In fact i spent the afternoon with a Brisbane forum client in a similar position to your own looking at ways to increase his equity to enable him to purchase a…[Read more]

I can think off the top of my head without looking any deeper 1 major lender who is at 4.54% for their offset product and you would probably end up getting that at 5-10 bps less.

There are a number of others you would be just as competitive.

If you can put up with their back end admin Suncorp on loans submitted before the 20/2 are at…[Read more]

Doesn’t have to be Nodoc if your clients can service the loan they can borrow against the existing property security.

Would be a matter of their Solicitor correcting the Title / Mortgage documents before they move forward.

Seems to be a fairly straight forward deal if these matters can be overcome.

Cheers

Yours in Finance
10 years, 10 months ago

Why can’t the current owners raise it on the security of the property itself.

Just do it as a Nodoc Short Term Business Loan. I am assuming their is some value in the present site.

Cheers

Yours in Finance

I have been in the industry for 28 years both here in Australian and in the UK so welcome to Finance in 2015.

Compliance is the order of the day.

As a Financial Planner also the requirements for broking are going along the same lines as Planning.

Still see many a broker who has never purchased an investment property giving advice to a potential…[Read more]

If they bring in a minimum Degree standard (Finance related) which is one thing being considered I think it would be good for the industry.

As part of your License or ACR requirement ongoing education is required.

Cheers

Yours in Finance

Hate to say you would be paying a darn sight more than 1.3 x Annual trial income in the current climate.

1.9 – 2.1 x is the acceptable industry norm these days.

As Terry said no guarantees but if you service your clients you would expect to make a considerably more than the purchase price.

Cheers

Yours in Finance

Hi Liana

You certainly don’t need 20% deposit to purchase an investment property unless of course you are buying it inside your SMSF.

90-95% lvr is possible and even 105% subject to certain criteria.

A good investment property mortgage broker should be able to give you an honest assessment of your situation.

Cheers

Yours in Finance

Hi Mikko

I would be happy to order a full valuation for you if you wanted to email me some details.

Once we get the valuation report back we can certainly see how much equity you have in the property and look at the various refinancing options for you.

Also as a Buyer Agents we can certainly assist in sourcing a property for you when the time…[Read more]

Wow 4.74% for a 900K loan assuming it is less than 80% lvr the Dragon did you no favours.

Cheers

Yours in Finance

Hi Kellie

Agree with Corey absolute nonsense. Have done many a deal on this basis.

Cheers

Yours in Finance

Yes agree with Don had one approved this afternoon for a forum member on a 980K purchase price and the security guarantee was provided by the employer.

Some are better than others.

Cheers

Yours in Finance

Sorry Wilko that is not correct.

All the big 5 Banks will take a 2nd mortgage.

Cheers

Yours in Finance

Hi Mikko

Welcome to the forum and I hope you enjoy your time with us.

Often the case that once a lender holds the security property they won’t want to do a full valuation and work off a driveby, desptop or similar.

One solution is to get your broker to look to refinance the deal and instruct a full valuation.

Once the report is back your…[Read more]