Hi Mark

If you post the information here we can assist you with the assessment.

Cheers

Yours in Finance

Appg happy to refer someone to you if you are happy to go to the Coast.

Cheers

Yours in Finance

Hi appg

Point 1 – bang on
Point 2 – Your Broker / Bank should help here.
Point 3 – If you will go as far as the Gold Coast (You can claim the travel cost) let me know and I can recommend someone.
Point 4 – No need to do this however you will need to change your postal address.
Point 5 – No other than the address. In Brisbane you will be rates…[Read more]

If it does not increase your borrowing amount it will reduce your living allowance expenses which nets out to be positive going forward.

Cheers

Yours in Finance

Driven it is called Spam.

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Yours in Finance

Would be neglible. Some lenders would not factor in your C/c limit if you have paid the balance outstanding on time 3 months running.

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Yours in Finance

Given that the Broker is giving you his time and expertise for free i think it would be an insult to go approach 2 separate Brokers and see which one comes up best.

A good Broker will be able to give you a pretty good estimate of what you can borrow without making a full application.

Cheers

Yours in Finance

Just arranged finance for a forum member on a 8 pack at 80% lvr at resi rates and he had never purchased at investment property before.

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Yours in Finance

Simply ask the NAB Bank Manager if he will put in writing that if you draw the funds into an offset account for you the interest will still be deductible.

Me thinks he talks the talks but won’t walk the walk.

Cheers

Yours in Finance

Depreciation, tax deductable expenses, income tax withholding variation, capitalising of interest.

Non of these are taken into consideration on either a pre-approval or a formal approval as lenders ignore them when calculating serviceability.

In regards to the potential rent lenders in the main will take their valuers rental assessment of the…[Read more]

Tomo, That is what a Mortgage Broker does for a living so i doubt any of us will be telling you which lender to approach directly.

Not convinced you will find Gemworth touch it with a barge pole especially at 95% lvr.

Why don’t you approach Mick C and get him to look after the deal for you.

Cheers

Yours in Finance

Hi Steve

Yes hate to say under the SISA legislation that is correct.

Some of the rules are crazy especially when you get into area of “in house assets”.

Cheers

Yours in Finance

Can still aid you slightly as lenders often sensitise their rate at a margin above the rate they charge.

This could be 2.25% above their Standard variable rate or their 1-3 year fixed.

In saying all of this if serviceability is a concern then there are many better ways to overcome this issue.

Cheers

Yours in Finance

No can’t be done you will need to use a local lending institution.

Cheers

Yours in Finance

Hi Allister

Firstly welcome to the forum and I hope you enjoy your time with us.

Both Jacqui (JacM) who is my partner and I did an interview with API magazine a year or so back on a couple of Unit blocks we were developing. I have personally done over 30 separate unit block projects in Brisbane over the last 15 years.

In answer to…[Read more]

Also think it was a few years since Tommy last purchased as LMI premiums have gone up rapidly and for a loan over 300K it is certainly more than a couple of thousand.

Cheers

Yours in Finance

There are also a few other requirements other than just your Professional requirements.

Minimum income etc.

LMI is a Tax deductible expense however I agree if you can avoid paying it all well and good.

Cheers

Yours in Finance

Agree with Terry not sure how they could register the mortgage without signing the loan documents.

We do a lot of short term business loans and certainly would never do a deal without the Title holders both executing the mortgage.

Cheers

Yours in Finance

Hi magic

I think you half answered your own question when you stated that there is Stamp Duty and CGT to consider.

If you factor this in and believe that the higher price IP will provide you with a better rate of return over the longer term than Yes i guess it is worth considering.

Personally not my style of investing but everyone is entitled…[Read more]