Hi Lee

Spent first 9 years of my working life on the Commodity Futures trading floor for a large US Bank so i now all about S/Brokers.

Not sure if you realise that this is an Australian site and whilst many of us have investments all around the World for specific UK mortgage advice you will need a UK broker.

Happy to refer you to someone if you…[Read more]

Hi wullah

If your ATO defination was a property investor / developer then the realised gain made on the sale on development or refurbishment would be actually be considered as trading income and not capital gain.

This has its advantages and disadvatages.

For lending purposes you would need to demonstrate a regular pattern of such income i.e 2…[Read more]

Danny

On most purchase contracts there is a section that relates to Default Interest.

Where no figure is inserted it reverts to the accepted Law Society rate for the State. In Qld at the moment it is 11.25% Per Annum charged daily.

All you need to is amend this figure to show an amount of NIL will be charged. Don’t forget the Vendor doesnt have…[Read more]

Bec

You dont have to spend a fortune to find a good +cash flow property.

A client of mine has just gone to contract on a house in Boulder WA leased until 2008 showing 8.2% Gross Return and we are arranging a 100% IP finance.

All he is coming up with is the acquisition costs.

Even if you don’t qualify for 100% loan then 95% plus some of the…[Read more]

Hi trev

I will assume that you have done your research and are aware of the end value of the units as is and also once combined into 1 larger property.

Presumably you are also aware of the costs of doing the renvoation inclusive of Council costs and requirements.

Presumably there is no Body Corporate other wise is there is you may require the…[Read more]

EB

As Terry mentions if you utilise a NODOC loan you cant get yourself in any problems.

Dependant on what LVR you are after at say 70% you should be paying pre-rate increase around 6.89%. If a lower LVR is acceptable then the rate would come down so would the set up costs etc.

Other lenders offer lodoc loans for PAYG applicants and that maybe…[Read more]

Having a partner who is a builder and does all of our projects i am spoilt. I stay in air-conditioned confort and he is outside doing all the work.

In saying that finding a builder who will want to first quote on the project and then complete the project is easier said than done.

Your standard house builder who sub-contracts everything will not…[Read more]

Rcently did one for a UK PLC at 70% LVR at 6.89% buying an investment property in Brissie.

Admitedly that was pre yesterday so around the 7.25% should be the go.

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

I have done a few non recourse loans with Unit Trusts but these tend to be lower LVR’s 65/70% and more often on leased commercial security.

Hate to say without your guarantee they will not proceed.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 6.89%**
Licensed Financial…[Read more]

Hate to say that redrawing funds from your PPOR loan to be used to fund a Tax debt is not an allowable interest deduction.

Why wouldnt you establish a 100% offset account with the money and whilst it wouldnt be reducing your principal debt it would be reducing the interest charged on the debt and therefore reduce your principal that much…[Read more]

Having been involved in providing Vendor Finance and Wrap arrangements to clients in Qld since 1996 have done one or two.

Firstly as mentioned why do you think you need to offer the 10% Vendor Terms. Lenders now subject to the location of the property will advance upto 106% of the purchase price with 100% being available to investors.

Should…[Read more]

I have just completed a Development Finance deal in Vic for $8.3Million and you will be suprised at the lenders who didnt want to look at it.

It is a specialist area and soemthing that is not easily answered on the forum without a lot more information.

You appear to be wanting 65/70% of GR in a stageds loan which make life easier. Not sure as to…[Read more]

Hi Carl

No 42 Sq M is not a problem. It is usually 40 Sq M and under that causes problems.

In saying that not all lenders will want to take the deal on.

Happy to give you a few choices.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 6.89%**
Licensed Financial…[Read more]

Used Balmain for commercial deals on many ocassions and in their place they have a niche.

In saying that the secondary tier banks have expanded their commercial lending products and are more comptitive overall.

Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 6.89%**
Licensed Financial…[Read more]

rzech

100% loan may even be possible dependant on the actual value of the property. You mention the price that you are able to buy the property but not the actual valuation.

A couple of lenders i am aware of will lend against valuation and not purchase price to that maybe possible.

Also why not make the Contract conditional upon the seller…[Read more]

Hi Mary

Yes Vendor Finance is common practise and dependant on where in Qld many agents should be aware of it.

Could someone please help me clarify the following questions:
1. Since we are settling in 35 days, is it correct that we get
the deeds and basically take control of the property at that point, despite the vendor still having money in…[Read more]

Happy to explore the possibilites further for him.

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

asdf

I agree with you Sept future provide a adequate indicate of future rate moves. As an ex Bond broker I now that the Banks play these little games and capitalise on unsuspecting members of the borrowing public in times like this.

Whilst Bernanke has warned about concerns over the size of the
deficit and the continuing high petrol prices these…[Read more]

I am with Cameron and would suggest a 100% standalone loan rather than a family guarantee especially if you are having to use your mothers equity when buying with a friend.

Might be slightly different if it was a girlfriend or partner but i would be loathed to have my mother security up for grabs for a mate.

Richard Taylor
Residential &…[Read more]

Hi Jamie

Don’t like to pat myself on the back too much but i have many clients on the Gold Coast and come down at least once a fortnight.

Happy to pop down the highway from the big smoke to catch up for a coffee and discuss matters.

Let me know.

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