Jessica,

Simon is as always bang on.
A MB gets paid a commission which varies dependant on the loan size. Regretfully as in every industry there are Brokers out there who will refinance your loan just to earn a commission.

In saying all of this a good Broker can analyse your position and suggest ways of structuring your loans that will benefit…[Read more]

Yes it possible and a few banks offer it.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888

mjblue

85% maybe possible at a reasonable rate.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888

Firstly we don’t do wrap deals with Bankrupts. Ex Bankrupts certainly.

A Bankrupt is unable to enter into such a transaction and if you do you are putting your security at risk.

Secondly the property is not co-insured it is insured having being sold under an instalment terms.

I would bee looking for a new buyer.

Richard Taylor
Residential &…[Read more]

Just to correct MCF

Stamp Duty is only payable once the contract becomes unconditional. In certain States on Oz duty is payable on the Option Contract.

With a Call Option you have the right but not the obligation to enter into the Purchase Contract and therefore the person / entity nominated to purchase the property will be the one liable for…[Read more]

Hi Jimi

With apologies. Slipped into a bit of Aussie slang comes of being here for 13 years.

LVR- Loan to Valuation Ratio
FIRB – Foreign Investment Review Board

http://www.firb.gov.au/content/default.asp

This link may help you a little.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial…[Read more]

Hi Blueeyes

I very much doubt your existing lender will want to retain the loan if according to their servcing criteria you are unable to demonstrate satisfactory income proof.

As Terry suggested a NODOC loan maybe the way to go as it sounds like you will have ample equity in the property.

Never give up where there is a will there is a…[Read more]

Terry is correct.

Most financiers will not be too worried where the balance of the funds to complete come from.

If it is a loan and you are being charged interest on it each month then it would become a liability but it would not have to go on the purchase contract.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from…[Read more]

Most Commercial properties i finance are purchased in Trust or through a Pty Ltd structure.

What is it you are looking to finance.

If you want to float some of the details we can give you some ideas.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial…[Read more]

I have personally done transaction over $10M in Transfer by Directions and over the same again using Call and Put Options.

I can guarantee you in Qld it would be illegal.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720…

Assuming it was a full doc deal you would probably get 0.8% off the standard variable rate.

Also probably get all fees waived.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888

Hi there
Don’t want to be the bearer of bad news but local developers have certainly found Toorbul and Donnybrook.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888

Exactly my point Terry.

Also believe you have a duty of care to disclose certain facts.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888

Yes

With the loan application the Pty Ltd is the applicant and presumably you both are Directors will be need to be Gurantors.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888

SK2

The easiest way to avoid getting the run around with all these lenders is to give someone like Terry a call and get him to arrange it properly.

Just email and tell him your requirements and he can arrange it for you.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial…[Read more]

Many lenders have no seasoning requirements however will only allow you to refi upto purchase price (of course there are ways around that).

We have now successfully completed 2 separate Vendor Finance deals where the client have had to put down NIL / ZIP / Nothing.

Vendor finance is enormous in the US and is a way that FN’s can get into the…[Read more]

Jimi

Terry has touched upon a few answers on remortgaging so there is no need to go there again.

LVR issues may occur if you are a non resident and are not an Australian Citizen. You may require FIBR approval to be able to purchase over here in the first place.

I have a dual passport but originally a British Citizen with PR in Aus and do…[Read more]

SK2

No it can’t so get them to set up a separate Int only / P & I account and link it to their 100% offset A/c.

That way you will have no problems.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 6.89%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888

Hi Andy

Firstly welcome aboard.
As a fellow pom I nkow exactly what you mean.

I arrived in 1992 and thought even being in the financial industry obtaining a loan would be a walk in the park. Regretfully no.

In saying that the lending market has come a long way in the years I have been here and as Terry mentions it can be done.

No doc / lodoc…[Read more]

As far as I am aware there is only 16 in the entire US.

Some of these are State specific one or two of them lend USA wide.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 6.89%**
Licensed Financial Planner
http://www.yourstatefinance.com
richard@yourstatefinance.com
Ph: 07-3720 1888