Also as Josh mentions not only does the LMI percentage increase dependant on the LVR but also the premiums differ considerably from lender to lender even with the same mortgage insurer.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing…[Read more]

Yes LMI is payable but as a loan cost it is deductible if the property is an IP. If it is a PPOR then it is just a cost of ownership and you can either pay it or put more of a deposit into the purchase.

Why not try and negotiate with the Vendor to leave some of the settlement monies in the deal rather than pay the costs of a high interest rate…[Read more]

Why pay a higher rate for a P/L when you can borrow 100% + on a normal home loan and pay a sensible interest rate.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

I couldn’t agree more with the 2 previous posts.

Never never sell – why not utilise the equity and increase your leverage.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

Yes Westpac have agreed to look at deals at 85% LVR without LMI but in saying that have a real close look at the rest of the terms. Both NAB and Homeside have waived LMI for me recently but the deals were not the queickest to go through.

As Terry mentions you are cutting it fine to settle by the 15th September espeically as you are requiring 3…[Read more]

As in Australia there are NZ lenders who take adverse credit applications.

Those based in NZ are often only available to NZ brokers due to the PI issues.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720…

Only one big problem i can see with the whole site.

And that is that don’t seem to list properties in the most important State ……….QLD

Vendor Finance is actually not a new age concept it is old as time itself but unfortunately only recently been accepted by both Vendor and Purchaser alike over the last 10 years.

Cheers

Richard…[Read more]

Hi there

Not sure who told you that you pay more tax but i regret to say that an occupation des not define the amount of tax you pay.

Certainly as a full time developer you income would be treated as Trading Income rather than a Capital Gain and depending on how long the property had been held could make a difference to the amount and type of…[Read more]

Credit Information is shared between the two Countries and therefore anything registered here in Australia will show up.

I have had client in exactly the same position and I was unable to place it here in Australia. I ended up having to use a NZ lender in NZ.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on…[Read more]

There are a couple of lenders who will advance more than the purchase price of the property but this is normally limited to an owner occupied property only.

For an investment property you will be limited to the purchase price and be required to come up with the acquisition costs yourself.

Cheers

Richard Taylor
Residential & Commercial Finance…[Read more]

Hi there

Yes feel free.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

As Josh mentioned there is a loan out there for everybody.

Even at the higher LVR 90% + adverse credit is not such an issue if you have good serviceability and decent employment.

If you have no deposit then a wrap or LTO is an alternative if it gets you into the property at a sensible price. Most of the wrap deals we do are at a rate which is…[Read more]

Graham

Who were you with in the UK.

I spent 9 years as a derivates trader with Chase so stockbroking is home.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

Tickets to the first 3 days of the Melbourne Test so can’t wait.

Will miss Brisbane as it is too early for my liking.

I can feel another England whitewash on the way.

If you need any email us.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing…[Read more]

Hi Tarantula

Firstly welcome to the forum. Like you i am a fellow Pom who saw the light some years before and made the move to sunny Qld.

In my opinion anything decent in regional Qld gets snapped up very quickly and whilst i agree that the commodities boom will last for a while longer it is being in the right place at the right time.

Have you…[Read more]

And if they don’t I do.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

Hi elim

Joshua explanation of the process is good although all i would say the process can vary from State to State with regards to Cooling off periods, unconditional dates, FHOG etc etc

Which State are you looking at purchasing in ?

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the…[Read more]

Hi Sally

I think it is your Accountant who is causing your confusion as he doesnt appear very clear on his advice.

With regards to your Superanuation issue and maybe other insurance issues it is probably better to liase with a Financial Planner.

Which part of Oz are you in.

On the matter of interest deductibiliy on your IP then this is…[Read more]

DEF – Deferred Establishment Fee

It is another name for a early repayment penalty. Instead of charging you up front we will charge it later on down the track unless you keep your loan with us for a specified period of time.

For the records 4% is not considered over the top high in the world of lending.

Cheers

Richard Taylor
Residential &…[Read more]

Thankfully the volunteers are back then.

In Qld we have set our own Professional Standard for the provision of Vendor Finance and don’t feel that being a member of the association has any benefit.

Our in house Solicitor keep us upto date on UCCC changes but i think for anyone starting out or having only done 1 or 2 wraps then membership maybe…[Read more]