Must admit never heard of a major lender not wanting to lend against a block of units. I have 2 blocks in Brissie one a unit block of 18 14 x & 4 x 2 and the major lender concerned never had a problem.,

Sometimes on a strata title block the lenders dont like to have a concentration in the 1 development but certainly not on a non strated…[Read more]

Difficult to target Nodoc as there is nothing at all declared.

Processed over 200 lodoc / nodoc loans last year alone and never had a single audit from any of my clients or reports from any lender syaing they were providing any information to the ATO.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.…[Read more]

Hi Tom

No they will not force you to sell but like any other no evergreen loan it has a 25 year term so you would need to pay it out.

The property would be revalued and you would need to pay out the EFM and the 40% Capital gain. No real drama.

Rismark are manging the funds on behalf of a number of superanuation funds so they are quiet ok with a…[Read more]

Must admit never heard of them.

Didnt have a lot on Google so assume they are a small brokerage or a mortgage manager.

Either way restrictive choice I am sure you can do better.

What are wanting out of them?

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720…[Read more]

It can be funded in several different ways but would need more information to give you a justified answer.

Feel free to drop me an email or post more information and we can answer mroe specifically for you.

I do a fair amount of this type of funding at the moment and it is fairly straight forward once all the skittles are in…[Read more]

I think many of you have misunderstood the market place this product is aimed at.

Take for example one application i have on my desk at the moment from clients both of whom are professional qualified (One is a surgeon) and they have a fair deposit.

Running the serviceability calculator of all lenders they can borrow upto $1.8M however in Noosa…[Read more]

Hi Scott

Firstly welcome to the site and i hope you enjoy your time.

First up i am concerned as to why you are making P & I repayments off a investment loan – i dont think youhave been well advised there.

Secondly there is a 100% loan and a 100% loan and they differ.

If you mean borrowing the full amount with costs and using your other…[Read more]

Their name has cropped in a couple of previous posts across a variety of foumrs unfortunately mainly for the wrong reasons.

They appear to offer an overpriced finance service which is no different to any good MB.

Any broker that charges for his service on standard residential home loans needs questioning these days.

Very much Caveat…[Read more]

Hi there

The Big C i have to be honest we refuse to deal with them. There post sales service is non existant and they promise the world yet deliver absolutely nothing.

The Branch staff have nil or little knowledge and have one thing in mind on every deal and that is to protect the Bank at all costs irrespective of the customers needs.

We would…[Read more]

Guys

No unfortunately not at this moment can the product be used for investment but i expect that to be with us within 6 months.

However in saying that you can refinance you existing PPOR loan and free up serviceability to enable you to buy more tax deductible IP’s.

Calls to date seem to think this and the fact you can now afford an area where…[Read more]

Hi there

No disrespect to Anita but she is not Licensed or qualified and whilst may have done quiet well to have paid off her loan many of us have done that without writing a book.

You certainly would not take out a loan of P & I nature if you still had a debt outstanding on your PPOR. My preference for clients is to structure an interest only…[Read more]

Hi Baz

Depends on the way you want to go.

Lodoc upto 95% is available although the interest rates are slighly higher than normal. Lodoc 90% can be done at the same interest rate as the standard variable rate is you can pay the LMI.

Depending on actual loan amount you might need to be GST registered.

On a $200K purchase price you would need…[Read more]

In Qld it is 30 days after you go unconditional so in a wrap that is pretty early in the piece.

And I think i answered the other question off line for you Andrew.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has…[Read more]

Tom

In answer to the following question

I would like to know how Adelaide Bank or Rismark profit from this?
From their point of view they give you say $50,000 and then have to cop all the interest on top of that.
I could buy a property and sell it 50 years later. The loan will sit idly on their books for all that time.

A) The maximum length of…[Read more]

Mac Bank / First Mac / Citibank are 3 that quickly come to mind.

Suncorp i think only requires confirmation of affordability and a couple of others.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email…[Read more]

Nicko

Just remember a Trust cannot borrow on its own.

The assets / liabilities / income / expenditure of the Trustees is considered when making an application for borrowing.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity…[Read more]

Sorry dacium but you are incorrect.

Statement For example lets say it make $60,000 in 3 years. In this time you would have paid rates 3 times, about $6,000. Money lost each year (making up the difference between rent and interest) totalling about $13,000

Answer This is inaccurate as rates and annual interest are claimed on an annual basis and…[Read more]

Hi BMW

Hate to say Adelaide Bank do have a great lodoc product (one of the few that take PAYG lodoc’s) although they will not to Lodoc fixed rates which can be a pain.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme…[Read more]

Hi there

Firstly welcome to the forum.

To answer some of your questions:

1) Some Interest only loans can be evergreen which means they are a revolving interest only facility. Other range from 5 -25 years.

2) Wow dont take any advice from fellow students it could be very expensive.

CGT can be calculated a couple of ways but to make life easier…[Read more]

The scheme is officially being launched by Adelaide Bank and Rismark International tomorrow but we were of the 6 Australia Brokers given the opportunity to trail the product prior to the official launch.

Might have seen my post earlier this evening

“Hi All

Many of you may have seen this evenings Today Tonight program on the exciting new Shared…[Read more]