George think you may have misunderstood the post.

You can get 100% finance if the house is been relovated to the land and the Bank fund it then. Jett was referring to a transportable house built in the yard and financing it prior to being moved.

You will not get LMI so > than an 80% lend is out of the question.

Cheers

Richard…[Read more]

It is funny i had some clients 20 years ago who were going to wait until next year before they lept in and tried to imporve their financial position.

Some 20 years later they still have not done anything and spend their time regreting.

Just because you do not happen to find a +cash flow property in realestate.com or domain.com it odes not mean…[Read more]

I am with Simon i think the lender may have been telling you his lending policy.

Use the PMI post code locator and you will see they policy is far from that.

I have financed many a deal in the depths of NSW & Qld where the town certainly has less than a 15000 residents.

Cheers

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

Ohhh another one of your ad’s 8 out of 8 aint bad

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au

Hi Dee

From the specific question you have asked i do not feel that it is an area a Financial adviser would be best suited to adivse you and you maybe better off with mortgage broker.

In saying this when you increase your property or investment portfolio there are other consideration as well as the gearing effect which need to be analysed i.e…[Read more]

Hi Opportunity.

No it is the Contract date as stated previously.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au

Hi there

If they have only been approved for $220K from their financiers then asking them to pay a further $40 in 6 months time maybe difficult.

Couple of choices:

1) Take the $220K now and then offer them say 60 months to repay the balance.
2) Suggest they talk to a mortgage broker to see why the reason the were only pre-approved for $220K.…[Read more]

2 Posts 2 adverts Not a bad start to your posting

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au

Hi Bluemist

If you are happy to offer you own property as security then why not borrow the full amount inclusive of costs through a standard mortgage rather than bridging loan.

If you merely want to use the house you are buying as security then offer a deposit and do similar. Anything over 80% will require LMI hence the suggestion of offering 2…[Read more]

Hi Don

I think you have slighly misunderstood the new Super Laws which believe it or not are supposed to be simplified.

1) Between 10 May 2006 – 30 June 2007 you are able to make an undeducted contribution of upto $1,000,000. The capping of UDV’s $150K (Or $450K using a 3 year averaging rule) will apply from July 1 2007.

2) Contribution Tax to…[Read more]

Christopher – To find out your borrowing capacity a lender or good broker will be able to do this for you without going all the way with a pre-approval.

Every pre-approval will show as an enquiry record on your CRAA and if you decide to run with another lender when it comes to the purchase could cause you a problem if you have too…[Read more]

Yes often i find that a pre-approval is a waste of time as if recommend a lender today and in 4 months time the client wishes to proceed the choice of lender may have changed.

To obtain an accurate indication of what you can claim you will need to undertake a Depreciation report on the actual property.

Cheers

Richard Taylor
Residential &…[Read more]

Alotti

Anyone can publish a book.

Would a better yardstick be to get them to tell you about their personal wealth and see how successful they had been in their own business.

I never have a problem showing clients a copy of my A & L sheet albeit personal details maybe removed.

As Property Wa mentioned there are 3 types of adviser yu need to…[Read more]

As John states it depends on so many variable.

It is like asking a Financial Planner what you should invest without him asking you about risk or diversification income requirements etc etc etc.

If you are requiring a PPOR then you perspective would be totally different to someone who is looking to generate a portfolio of investment properties…[Read more]

I think we can all understand the attraction of paying cash and avoiding an additional 10% even if it is a fraudelant act on his part. (Paying cash certainly is legal).

Away from this i would ask you what happens if there is a problem with the renovations he will not come back to rectify the problem and the BSA will not want to know as they was…[Read more]

Hi Guys

Whilst this post is not intended to offer financial advice which i am unable to do without a complete fact find and then preparation of a suitable Statement of Advice I will try and allay some Super fears.

Taxable contributions are contributions made for the purpose of making provision for superanuation benefits for another person (other…[Read more]

Viral

Yes it is possible with a couple of lenders who will allow for the loan to be any of the names on the title however there is an underlying guarantee provided so that all parties are responsible for the entire loan.

EG

Property purchased in the name of ABC Pty Ltd with 2 Directors for $250K
A 90% loan would be set up as follows:
Loan # 1…[Read more]

You would get max 80% LVR in Qld

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au

Hi there

The interest calculations assuming the same rate of interest is being charged is identical.

I guess the burning question is what you will do with the $50K redrawn. If it is for personal purposes then fine to go ahead and redraw but if it is for investment purposes then you would probably want to separate the accounts for interest…[Read more]

Stephen

When the LVR is > 80% LMI is normally required.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au