Hi Magic

It all depends on how long you had been doing them for.

Done many a deal where lenders have taken the combined income of both if we can demonstrate consistancy of employment.

A Group Certificate / Payment Summary works wonders.

Hope this helps.

Cheers

Yours in Finance

All depends on your price bracket and what you are wanting to achieve.

We are getting asked 3 or 4 times a day the same question.

Cheers

Yours in Finance

Hi Jeff

How did your valuation go on the property the recommended?

Did they also disclose how much they got paid from the Vendor, developer or builder?

Interesting like all of them they only market BRAND new house & land packages.

I wonder why they don't promote properties that are 6 months old ? Let me ponder that one…….

Cheers

Yours…[Read more]

Nope lol

Cheers

Yours in Finance

Only aware of 2 lenders that will:

1) Allow a personal loan to be the source of deposit and good luck getting an approval above 90% thru them.

And not aware of any lender that will:

1) Approve a personal loan where the intended purpose is for house deposit. To state another reason and then use for deposit is of course fraud as the purpose…[Read more]

Not quite as simple as that wilko.

Some lenders will factor in the deductible interest others do not.

Some lenders will sensitise the existing repayment others will take the actual repayment as a liability.

Some take a percentage of your credit card limit as a liability others will not if you have paid the card in full over the last 2…[Read more]

As Jamie mentioned i would refer you to my Accountant but he certainly wont get your return done in 3 weeks.

Most decent Property Accountants are not taking on new clients and those that do won't be rushed.

Certainly they are eager to assist provide advice but have long established clients that also have requirements.

Cheers

Yours in Finance

Thanks Jamie appreciate the vote of confidence.

Must admit neither Jacqui nor i do it for the remuneration it is just nice to assist others get a foot on the property ladder and start to build their portfolios.

SZ it you are looking for an Australian Broker to finance the deal you can't go past Jamie.

Certainly knows his stuff and is a good…[Read more]

Sorry that is absolute rubbish CBA do not lend on 23 square metres units or indeed do any other standard lenders.

Certainly in the good old days lenders used to but this day and age those have gone.

A requirement for the lenders that do lend on units under 40 square metres is that they must have a separate bathroom and is some cases a…[Read more]

Hi Tomo

No conventional lender will touch it.

Anything over 35 SqM you are ok but 23 Sq M no chance.

More likely to be maximum 50% lvr under private finance and then you are going to pay for it.

Cheers

Yours in Finance

Hi Daniel

We are referring a lot of our Victorian forum clients to Doug Mckracken at

Ron Skeggs & Associates
275 Geelong Rd, West Footscray VIC 3012
Ph: 03 9687 0933

Tell him i sent you and I am sure he will look after you.

Cheers

Yours in Finance

Please post what you want in depth or i will delete the thread.

Cheers

Yours in Finance

It all depends on the amount you want to borrow, the lvr and how quickly you can supply the documentation.

If you have restructured the Homeside loan like we suggested then maybe a week if not maybe 2.

Cheers

Yours in Finance

Not sure where this is going but if I feel there is anything untoward I will be deleting this post.

Cheers

Yours in Finance

Hi Jate

Hate to say it seems go from bad to worse.

Think you definitely need a complete loan check.

Cheers

Yours in Finance

You wouldn't use cash and lose deductible interest deductions when you have a non deductible home loan.

Sorry but i can't see any reason why you wouldn't use an offset account on a PPOR loan it makes no sense but if you wife doesn't want to do so that is upto her.

Yes lenders will take a percentage of the assumed rent into consideration when…[Read more]

Wouldn't use your own cash savings would set up a separate sub loan against the PPOR for probably 10% of the purchase price + acquisition costs.

This will reduce the LMI and give you more options.

You can always pay down the PPOR or place your current savings in an Homeside offset account once the loan comes off it's fixed rate.

Then look to…[Read more]

Hi Ferndinandch

AT 95% lvr your lending choices are fairly limited and the credit scoring will be tough but if everything stacks up then no reason why you wouldn't look at going that route.

LMI is an opportunity cost and whilst it is a Tax deductible expense is still a cost.

Premiums vary in cost depending on the insurer but at 95% it certainly…[Read more]

Don't want to disagree with Nigel but you can gear into a Car park space.

There are 2 lenders i am aware of that will fund them.

Terms and rates are very similar to Taxi plates.

Still doesn't make it a good investment though.

Cheers

Yours in Finance

Not just a matter of forgetting to exercise the option in time but if you do something that is deemed as a breach of the Option Contract prior to the execution you may find that all of the work / improvements you have done to the site are lost and the benefit reverts back to the original Vendor.

Cheers

Yours in Finance