Hi Stewart

Hate to say that going the VF route doesnt avoid the fact that you have to show clear serviceability especially under NCPP.

In saying all of this if you have such a large deposit and you are working i dont think you are a million miles away of getting a traditional style loan. Would need a little more information and assume that your CCredit file is nice and clean but would be close.

Cheers

Yours in Finance

Hi Nathan

What Lvr are you getting for Foreign National's in Detroit ?

We are getting upto 90% lvr for Australian's in the UK at 5% fixed for 5 years.

Same purchase process as in most of the Australian States and in most cased tenants and professional property management in place. Healthy Depreciation and Capital Allowance claims.

In France we are getting 19.6% cash back on the purchase price at Settlement and 9 Year Guaranteed Index linked Rental Leaseback's.

Amazed how many investors are going for the UK given the low entry price and competitive funding arrangements.

Cheers

Yours in Finance

I try to avoid face to face because i have a head like a melon lol.

Cheers

Yours in Finance

Lodoc in both Company or personal name is still very much alive albeit the amount of documentation varies between lenders.

Just have to bear in mind if the lvr is over 60% you will end up paying LMI.

Also some good interest rates around for Lodoc again so some appetite is coming back.

Cheers

Yours in Finance

Hard one to answer without a lot more hard data.

What type of Com security / full doc or lodoc / established business or not / variable or fixed rate / resi security Com purpose the list of questions goes on and on.

Cheers

Yours in Finance

Yes i hate to say it is an issue and i believes one of the many problems in buying in the US.

Thankfully the UK process of buying a property is very similar to that of many States in Australia.
Property management is an occupation and treated seriously rather than operates as an add to Real Estate ageny sales.

Most PM have licensed tradesman on their books to undertake any specific work and this does noot mean getting the husbband to do the job and charging double the going price.

Old old story is due your homework and make sure the person you buy thru has a good reputation in the marketplace and owns the odd IP themselves. If they put their own money where their mouth is at least they have faith in the project.

By the way we charge £995 as a sourcing fee for the UK which is circa $1400 AUS.

Cheers

Yours in Finance

I would suggest Michael as he is based in Sydney and a very experienced forum member.

He has already answered your post so you can obtain his contact details from there.

Cheers

Yours in Finance

Personally i would run a mile if the property is in a poor state of repair.

Couple of points worth bearing in mind:

1) The Tenant (Company or not) may serve if they have not already done so an appropriate notice to have the property bought upto scratch and any work done and you as the purchaser could be forced to comply.
2) The cost of trying to find a Contractor to undertake the work in a mining town maybe a lot higer than in the City so beware.
3) The lenders valuer may make comment on the state of the property and this could reflect in the lvr offered.

Cheers

Yours in Finance 

Hi Shane

Yes your point is well made however i must admit i think i would be holding off fixing until we see which way the next RBA meeting goes and if we see a 25 or 50 bps reduction in the Cash Rate i believe Fixed rates will fall even further.

Cheers

Yours in Finance  

Hi Johann

Yes the repayment do seem a week bit high per month although i have to say that is typical CBA.

I am sure you can do better elsewhere especially if the lvr is less than 80%.

Cheers

Yours in Finance