Hi seven

100% finance is offered by a few lenders out there but you will pay for it somewhere whether it be a slightly higher interest rate or application fee or other.

If the property is a PPOR and you have access to a deposit then often you are better of in borrowing less and getting the benefits of a lower interest rate etc.

If the vendor…[Read more]

As has been stated there is no given amount merely a figure which the vendor feels confortable in accepting.

Cata is incorrect when he states “the money can’t be accessed until settlemant anyway” as with most Development contracts the deposit is released to the purchaser either on the date of signing or when the contract becomes unconditional as…[Read more]

Hi there and welcome to the forum.

From you Post it sounds like you are in Qld and possibly even Brisbane.

I am extremely experienced in the Brissie market so would be happy to help you.

LMR – Low Medium Residential in Brisbane this incorporates the old RB# & RB4 Unit and Townhouse zoning.

Cheers Richard
Ph: 07 3720…[Read more]

Another alternative is to look at Lease Options or Installment Contracts for positive cash flow.

The demand today is greater than it was 18 months ago.

If you use a Shared Equity scheme with a Lease Option then you will get the best of both worlds.

Cheers Richard
Ph: 07 3720…[Read more]

St George still charge LMI over 60% but will go to 80% on a Lodoc basis.

I believe the issue is the fact of trying to find a lender who will go to 80% and not charge LMI of which i can think of 6 /7 at least.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

I would hardly call it breaking news it has been the way for some months now.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

MGR

Being an ex Pom who does a lot of loans for overseas residents I can assure you if that is the case with Westpac they are an exception to the rule.

One easy answer is move lenders.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

MGR

Being an ex Pom who does a lot of loans for overseas residents I can assure you if that is the case with Westpac they are an exception to the rule.

One easy answer is move lenders.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Yes

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Andrew

What do yu need to know?

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Yes it is Ozi.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Andrew

1) How do I get around cross collateralisation?

A – Draw down from one property and use this as deposit for the next. Even if use the same lender it does not matter but maks sure they loans are Not “X” ed.

2) Whats an all monies clause (i have one in my loan contract)

A – ALL MONIES CLAUSE
These have the same effect as the Title of…[Read more]

And in some cases LMI irrespective of the LVR.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Purchased a 4 unit multi unit dwelling and a single family dwelling on the beach front in San Juan Capsitrano, California in 1985 with my sister whilst living in the UK.

In 20 years the property has gone up over 20 fold

We still own the property and have set up a HELOC against it for additional purchases.

So Yes I also do my homework.

Cheers…[Read more]

All sounds good Nigel.

May i ask how many properties you own in the USA?

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Cameron

I must admit I wasn’t aware that they now lent to Australian individuals.

I was under the impression that they only lent to USA entities.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

I guess it all depends on what you are after from your lender.

Whether you want bells and whistles or whether you just want a cheap rate and no other product or service.

Don’t forget if your Bank arent playing ball there are plenty of other Banks keen for your business with plent of flexibility and a wide array of products.

Many of the…[Read more]

I agree Henry.

No point in having the best structure in the world if you cant borrow enough money to actually complete a deal.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Krismoos

You don’t need to be a member to obtain a House & Land Contract from the REIQ you just pay a different rate.

I assume you will be using the 5th Edition.

I have the blank Non Member contracts on my computer but as the are all key locked i cannot email you one.

Happy to fax you one with all relevant pages if that is any good to…[Read more]

Mark

80% lodoc is available without mortgage insurance at a competitive interest rate.

The lender pays for the premium.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.