Depends on what the valuer states.

If it ha a commercial lease then No wont fly.

Cheers

Yours in Finance

Yes i do but they are going to charge normal com application fees, charges and val fees to set up.

Cheers

Yours in Finance

Would have thought the LVR and interest rate would be competitive and somewhere in the 5's.

You don't actually mention the properties are Commercial but if they are there are a few lenders who will do a deal solely based on the rent received.

Course more information would be needed to make a further recommendation.

Cheers

Yours in Finance

Jamie a lot of lenders do 95% lvr but what is their LMI premium like ?

As them also if they do 95% on vacant land to start with.

Cheers

Yours in Finance

Hi Jamie

With some of the new blended loans on the market you may find this a cheaper way to go as the LMI will be a lot less.

Just settled one for a forum last week and we managed to get 98% with the LMI being nearly half the price of what her own Bank had quoted her.

Cheers

Yours in Finance

Hi Simon

Yes a named beneficiary.

Good in hindsight but that shows the importance of good advice.

Cheers

Yours in Finance

I am assuming Terry's point number 2 above should read

2. Depends on the wording of the deed and not dead.

In my experience difficult to get much out of the dead.

Had a forum client contact me yesterday who had set up his Pty Ltd Company / Trustee and gone down the whole way with his own Bank only to get to letter of offer and guarantee stage…[Read more]

WUM Sometimes a deposit it not required and 100% borrowing is available in certain circumstances.

Cheers

Yours in Finance

Finance in the US is and always has been available to Foreign National's however in most cases the US Bank's will not accept the type of security most Australian want to purchase which normally is in undesirable areas and the asset value is below the Bank's minimum.

If you look at a multi unit block and the block is in the right area then you…[Read more]

Hi Stu 

Wouldn't make any difference.

Burning question is are you contracted to one or many employers.

Cheers

Yours in Finance

ICCD $500 is ridiculously cheap and hate to say you get what you pay for.

Somewhere in the middle is about right for Professional costs and then of course you have searches and outlays.

Considering for most of us it is our most expensive purchase you want to get good advice.

Happy to give you the name of our lawyers in Melbourne if you want a…[Read more]

Which part of the world would it be in ?

Cheers

Yours in Finance

Needless to say it says it all.

All good when it is going up but can be very volatile.

We would never put a client into a mining area full stop.

Cheers

Yours in Finance

Just join up log in and use it to set alerts for what you are looking at.

Cheers

Yours in Finance

Hi Rick

No hate too say you will be limited to claiming the interest on the $496,000.

Refinancing and borrowing additional funds will not be an acceptable purpose for claiming a Tax deduction on the increased interest.

Cheers

Yours in Finance

Stu will depend on whether you are contracting or whether you are self employed working for a number of different employees.

At 80% lvr and assuming the former standard rates should apply.

Cheers

Yours in Finance

Yes we are finding with the right property the valuation and purchase price are coming in at the same figure.

Many properties are over priced as they have the marketing fees in built to the price.

Lenders do go to 90% plus LMI and there is no reason why you should pay a higher rate or application fees / costs.

Cheers

Yours in Finance

Hi Jon,

You mentioned you have already paid LMI so when the current property becomes available for rent you will be able to claim a portion of the LMI as a deductible expense.

Paying down your current loan wont save you anything in regards to LMI so don't do if for that reason.

If the property is going to be a PPOR then utilise your own cash…[Read more]

Hi Kali

As has already been stated you would certainly better off with a interest only loan linked to an offset account if you are intending to save for a PPOR.

On the basis that you can qualify for a standard residential loan and subject to the security value of the property you might be better off to look at refinancing the loan to a…[Read more]

Only one of the mortgage insurers will allow a a borrowed deposit > 90% (And they are very Post Code restrictive on this product) so i go back to my initial comment about how you are going to finance such a deal.

Cheers

Yours in Finance