All properties we hold are held in a Pty Ltd Company ATF Trust structure.The properties are normally mortgaged so in the event of litigation the party taking action would need to determine whether it was worth persuing given that the Bank would hold first mortgage. Secondly the wrappee has a caveatable interest in the property and that is…[Read more]

Terry, I am aware of a couple however really are only interested if it is considered as a business and there is some element of volume.

Regretfully no you would probably would cause yourself more problems.

No

EmilYes the wrappee can certainly use it as a deposit but it will not be paid on the possession date. In Qld the FHOG is payable 12 months after the possession date and once at least 10% of the instalment contract price has been repaid. This includes payments of both Prinipal & Interest.I.e If monthly repayment is $1000 and the instalment co…[Read more]

EmilI think this should be directed at your mortgage broker. Presumably he is familar with wrapping and the concept of instalment finance.Unless you do it for a living like one of my companies i dont think many lenders will take wrap income into consideration. I am aware of a couple of lenders but that is about it.

EmilYes exactly so many lenders put an emphasis on an ABN however as you say you can get one in 24 hours.In saying this if you intend to start wrapping remember that most lodoc loans are postcode restricted and as mentioned the number of lenders fall if you have your ABN for less than 2 years. You might be better to stay in a PAYG position for the…[Read more]

No EmilYou would be able to go lodoc when you are either PAYG or have an ABN for 1 day. The only difference is the LVR available to you. PAYG Lodoc you can go to 80% LVR whilst there are few lenders that will accept a short term ABN (<2 Years).

The market certainly has not gone flat I would say that you change of employment status is the reason why you capacity to borrow has been reduced. If you have been self employed for a short period of time then it is unlikely that the average lender will take into consideration your income at all and therefore you serviceability will be calculated…[Read more]

Regretfully again another statement which isnt quiet true:We have a free loan that gives you 20% of the property value. It will free the LVR to 70%. No insurance.Rismark do insure they 2nd mortgage but the premium is a lot lower than would be normally

Hi EmilYes many lodoc lenders do require you to be self employed and hold an ABN for 2 years + (and if you intend to declare more than 50K PA will require you to be registered for GST) but in saying that many do not and some allow PAYG lodoc.

Steve Hodgkinson – PartnerGold Business Group – Southport07 5532 2855 

Whilst you are thinking about your next move stick the cash in your offset account and at least get circa 7.5% tax free.As has been mentioned a Nodoc loan is available however before you sell yoruself short you woul d have some good rent and maybe suprised about your borrowing capacity. Remember not all lenders calculate serviceability the same w…[Read more]

He is good Alistair isnt he !!

If she is self employed then would need to show 3 Year Tax returns and her net profit would be used to assess her income.

There are a couple of lenders who offer 100% + loans for investors (upto 106%) with good income so that is an option.I guess one thing is that as well as the purchase price there is also the acqusition costs i..e stamp duty etc which add up and therefore he will need all of the extra 6% loan amount and maybe a little more depending on the State in…[Read more]

Adelaide Bank Shared Equity scheme is not available for an Investment property  – YET.

Sure they are in WA are you ok with that. Are you Licensed to do business in WA.

How far do you go to visit your clients Eric ?Might have a couple who would like to see a mobile MB

MarcIt is just amazing. I just love posters who just have a mobile number no landline or email address for people to do their due diligence prior to contacting someone and are here merely for the touting of new business.