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We are a private lender based in Brisbane and specialise in development funding.
Course lvr, rates etc will depend on a number of factors but i can certainly get one of our BDM’s to touch base with you when you have your first deal scenario.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Could always look at a SMSF Rent to buy option if you dont have enough to put down 30% deposit and Security Trustee costs etc
Be surprised how many of these we are now doing where the SMSF has limited servicing from the members income (i.e self employed etc) or security location not sufficient.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Your hold an AFSL i assume ?
Can you give me the number.
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Yours in Finance
Richard Taylor | Australia's leading private lender
As Terry mentioned sounds like a fairly straightforward deal depending on a few things.
Currently rates in the high 4’s out there with lvr’s to 80% so has become competitive again with a few lenders.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Wouldnt work for renovations but we do a lot of these deals for borrowers where they can’t show servicing as it is done on a Rent to Buy basis (or Lease Option).
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Richard Taylor | Australia's leading private lender
Regretfully not.
Qld, NSW, ACT only due to demand.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Welcome aboard John.
Hope you enjoy your time with us.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Of course with every investment you need to ensure the firm you are dealing with are fully licensed.
With a retail mortgage fund like http://www.ascf.com.au you get exposure to a pooled mortgage fund which is ASIC regulated and approved and has a fully Retail AFSL, ACL and insured. Also members of AFCA.
Many Wholesale Funds do not carry the same consumer protection so you need to compare apples with apples when investing.
Shout out if you need any further information.
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Yours in Finance
Richard Taylor | Australia's leading private lender
No problems.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Jonathan
One thing to bear in mind is that even being a low rate tax payer interest on your PPOR is not Tax deductible whereas if you use the money for investment the interest becomes deductible.
If you are also a First home buyer there are a number of Grants and discounts (stamp duty) available so maybe worth considering this route first.
Then use an investment focused mortgage broker to source funds for your investment purchases. There are a few lenders that price the loan on the security offered rather than what the funds are used so still extremely competitive.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi there
Welcome aboard the forum and hope you enjoy time with us.
I have given a number of interviews to the API magazine about how i started and built my property portfolio.
Feel free to shoot me an email and I would be happy to send you the article.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Nope not available.
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Yours in Finance
Richard Taylor | Australia's leading private lender
We unfortunately sell a fair few properties which we have taken possession of as mortgagee thru my Retail Mortgage Fund.
Have to say as a mortgagee we are required to obtain a fair market valuation / real estate assessments and then go from there.
Sure we do have a number of properties that we sell below valuation as long as the debt is covered but that is often because they are passed in at the Auction and we negotiate with the highest bidder after the event.
Certainly wouldnt be public listing the price we will accept.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Without a deposit wouldn tbe something we could assist with and unless you find someone who is looking to sell and existing house i think you will struggle.
I own a Vendor FInance Company and we allow our clients to choose the property and then we buy the property and enter into an Vendor Terms agreement with them however we would always require the borrower to cover our acquisition costs and some sort of deposit.
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Richard Taylor | Australia's leading private lender
No issues on obtaining possession on investment properties in Australia as a lender (trust me we have a number of matters going thru).
In SA at the moment taking a little longer to get possession of owner occupied properties and AFCA are becoming more lenient (if you are a member, which we are) but other than that no real difference.
Bankcruptcy out to 6 months from 21 days but again no real issues.
Spoken to a lot of Liquidators who are gearing up on the staff front ready for the onslaught of end of year and early next year.
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Richard Taylor | Australia's leading private lender
In the main agree with Terry on servicing but number of provisions under NCCP where this is not required even in if buying in a personal name.
Would need a lot more data but on the surface could be done.
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Richard Taylor | Australia's leading private lender
It is illegal to offer Vendor Finance now in Victoria outside Rural areas and for properties over 750K so you wont find anyone.
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Richard Taylor | Australia's leading private lender
Hi ClancyFish
Can i ask what area you current live in and how old you are.
I live up at Noosa and I can tell you the houses are a lot more than $1.4M so will depend on which part of the SC you are referring to.
Depending on you age you maybe able to consider a Reverse Mortgage and release some additional equity by way of either a lump sum or regular monthly payment.
Course you will need to factor in any other potential income to your current pension and the effects it may have.
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Yours in Finance
Richard Taylor | Australia's leading private lender
None that i am aware off.
We were looking for similar about 6 years ago so made an application for a full Retail AFSL and 18 months and $1.5M later we started ASCF.
We now have just over 400M in FUM and get asked the same question daily from potential investors and developers.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Ben
If you use 25K of your 100K deposit for other investments and there is no additional borrowing on the other investment it will not effect any finance application.
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Yours in Finance
Richard Taylor | Australia's leading private lender
