Cabo

LMI refers to Lenders Mortgage Insurance. A premium collected by the lender (usually dependant on the Loan to Valuation ratio) to cover them in the event of the property being sold due to default by the purchaser and the lender making a loss.

Obviosuly if you can afford or find a block of units them you might expect to get some economy of…[Read more]

Hi Gt

Good to see you have seen the light and returning down under.

Wow things have moved in the years that you have been away.

Unfortunately, in Oz unlike the US properties where the mortgagee has taken possession are normally taken to Auction or sold through real estate agents nominated by the mortgagee and a list of such is not available…[Read more]

Whilst i agree a couple of the points you have made are useful one of the golden rules for me would be to check out careful the Body Corporate set up.

Body Corporate fees cover an administration fee for day to day running of the BD as well as sinking funds which puts money away for work to be done on the Building.

Some of the older buildings are…[Read more]

Pyramid

Must admit i am slightly confused about your comment “take advantage of the $7000 First Home Owner’s Grant and exemptions from Stamp Duty and Mortgage Duty when entering into a WRAP agreement with a first home buyer in NSW?”

The Grant is payable to the purchaser although obviously one of your contract conditions in your installment…[Read more]

Cabo

Yes dependant on the rental income assessment can make a big difference in increasing your borrowing capacity.

Most lenders accept between 75-80% of the rental income you receive however in saying that certain lenders take 100% of the rent you receive on properties which they dont take as security.

Also the negative gearing impact makes a…[Read more]

Hi Jadam

There are many lenders who offer a nodoc facility for clients just like you. The interest rates are standard.

In saying that you may still qualify on a normal serviceability anyway.

Cheers
Richard (Qlds007)
richard@yourstatefinance.com

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

Specialising…[Read more]

Do a search on the topic as this has been covered many many times over the last few months

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

Specialising in US & IP finance.

Hi Doug

Firstly welcome to the forum and i hope this is your first of many posts.

On a personal note i adopt the poilicy never never sell as long as the properties you are holding you feel have some longer term advantage and will not be of detriment to your borrowing capacity or equity in the meantime.

In the properties are increasing in value…[Read more]

dallasm

Making the Contract subject to a material change of use will probably require the Vendor to sign and authorise the application which may cause him further concerns. This will no provision for who is responsible for the costs of such application ete etc.

Then you have finance.

Why not make the contract merely “subject to and conditional…[Read more]

Funny many clients have told me that about Mortgage Choice Franchises

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

Specialising in US & IP finance.

Steven

Was aware that mobius used TMIC but was sure that Tonto had a separate MI. So thats 3 + STG of course.

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

Specialising in US & IP finance.

No not at all.

You can used a weighted arguement and apportion a higher value to one block over another for just that reason.

Recently did a battleaxe block just like that where the back house had view and it was a steep incline.

We took photos of before and after and made a good submission to the ATO on just that point. They listened and…[Read more]

In Qld we have a 5 day cooling off period and the cost is 0.25% if you terminate on this basis alone.

One simple clause you could put in would be “This offer is valid for 24 hours from the date of xxx or This offer is valid until 5pm on the xxx” being say 24 hours after you sign the contract with the agent.”

That way of the vendor takes too long…[Read more]

Gross

Yes

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

Specialising in US & IP finance.

yes Giddo

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

Specialising in US & IP finance.

Terry

My apolgies you are as usual bang on.

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

Specialising in US & IP finance.

Hi Batts

Would be happy to help.

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

Specialising in US & IP finance.

Hellman

There actually 3 + St George now.

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

Specialising in US & IP finance.

Costs are apportioned on the sq metreage area of the individual dwellings as a percentage against the total land area for CGT purposes

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

Specialising in US & IP finance.

phil

Yes wraps in SA are illegal.

Lease Options are the way to go.

Why not PM Xenia Dr X who is in Adelaide and active in this market.

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

Specialising in US & IP finance.