The concept refers to taking a Call Option against the property and can certainly be done subject to finding the right property / vendor.

I have done a number of Options and all have been successful however in most cases you need to spend money developing or renovating the property so for this you will need additional funds.

As i say you need to…[Read more]

Hi Belzgirl

Welcome back to the forum.

Certainly with the number of natural disasters we have had here in Qld premium rates have increased considerably.

Unfortunately with Insurance you do get what you pay for and therefore i always prefer to use a General insurance Broker.

If you a name let us know and be happy to give you our…[Read more]

Hi Matt

Welcome to the forum and i hope you enjoy your time with us.

Subject to the location of the land and it being acceptable security to a lender there is no reason why you can't start off now.

The way in which you structure the loan will be important to ensure the securities are not cross collateralised.

If the property is a PPOR then…[Read more]

Hi Conolly

All depends on the lender / Broker concerned.

Personally we never do and i have just ordered 6 valuations for a forum client only this morning who wants us to uncross all of his loans which have been nicely tied up by his Bank but that is not to say every Broker does it for free.

I think it is a rough ask to charge a client but for…[Read more]

Sure Dave just emailed.

Cheers

Yours in Finance

Hi Sean

Just sent.

Let me know if you have any questions.

Cheers

Yours in Finance

HI Grant

Not quite accurate.

No lender will assess the SMSF Deed prior to an application being made and in fact there are only a small handful of SMSF lenders that offer a true meaningfull SMSF pre-approval.

You are referring to the Security trustee / Bare Trust and certain lenders offer a Draft acceptable Deed.

You still need to ensure that…[Read more]

Are you sure you can LMI on the post code ?

As Rick mentioned i think you might have to consider a blended 100% loan over a 95% ivr as this would free up more fund.

Also remember the mortgage insurer will be unlikely to allow you to access the increased equity for a minimum of 3 months and then only assuming a registered valuer agrees with your…[Read more]

Hate to say with arrears on the existing NAB loan i can't see it scoring too highly on the Banks credit scoring system so switching to Interest only with the NAB is probably not on the card for the time being.

Might be a matter of waiting until you credit history with NAB is improved and you have 6 months of good clean repayment…[Read more]

Jay must admit there are so many opportunities here in Oz at the moment maybe investors are seeing better value at home.

We are working with investors all day long on some of our new developments and can't keep up with the demand from the forum.

Good to hear you are back anyway.

Cheers

Yours in Finance

Hi FT

Yes hate to say there will be LMI on a 90% lend on the new IP but this could be capitalised.

Personally if you want to be fairly aggressive and serviceability if evident i would try and take out a 100% standalone loan secured against the new IP.
This can be done in many ways with some of the blended products.

You could also look to take…[Read more]

I agree i am not sure i would be jumping in boots and all with ING as whilst the surface rate looks ok you may need to access additional funds in the future.

There are many more flexible lenders that would cater for your needs both now and in the future.

As long as you have the repayment ability and depending on the property price you are…[Read more]

Hi Nathan

Can you ask you why you have to wait ?

In cases like this it is always a matter of taking what you can as when you need it you might find it is not be offered by lenders.

I would probably be thinking about switching to interest only and if you need to extract equity doing so and placing the funds in an offset account linked to the new…[Read more]

Johk, Darryl Richards is your man.

Good forum contributor and a wealth of knowledge in the Town Planning for Brisbane.

Other than that a top bloke.

Cheers

Yours in Finance

Yes agree Leonie has acted for me on my last 200 transactions and known her for 15 years.

Has also acted for 101 of my clients.

Cheers

Yours in Finance

Hi Lak

Ok that certainly makes life a little easier.

Tough part will be pure serviceability as a loan of circa $330K is going to virtually impossible on the information we have.

Cheers

Yours in Finance

Hi Lak

Firstly welcome aboard and I hope you enjoy your time with us.

The deciding factor will be the description of "casual" and how long you have been doing this as a 85-90% lvr not going to have much choice depending on the time.

Would need more information to provide you with a valid response but fingers crossed you have been there .> 12…[Read more]

Hi Connolly

Welcome aboard and good to hear you are jumping on our Qld bandwagon.

Can't go past Darryl Richards at HUI Lawyers in Brisbane

Darryl is an excellent forum contributor and an expert in his field.

Cheers

Yours in Finance

Ok as long as you reside in the property for a continuous period of 6 months commencing within the first 12 months of ownership you would qualify for any First Home Owners Grant.

Course depending on the purchase price of the property you may lose the stamp duty concessionary rate.

Worth talking to your Solicitor about this.

Cheers

Yours in Finance

Hi Minds eye

Which State is the property located in?

Cheers

Yours in Finance