What is it that confuses you?

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Yours in Finance

Also make sure you have very deep pockets as you wont finance them with any conventional lender at the moment irrespective of the LVR.

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Yours in Finance

Also Loan costs where they are incurred where the purpose of the loan is for investment.

Deductible over 5 years or the term of the loan whichever is the greater.

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Yours in Finance

Sorry to be so niave but why cant they get a loan in their own names. Is it income, credit issues or some other reason.

Most can be overcome depending on the LVR.

If you have equity why dont you let them buy the property in their own name and you finance the deal on your property.

Alternatively you lend them 20% deposit plus sufficient to cover their costs.

They merely pay the loan you have taken out and everyone is happy.

Seems too complicated to me the way which has been suggested in your original post however as i say there maybe reasons you havent disclosed.

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Yours in Finance

Hi Karen

Ok no dramas. You are more than welcome to email me over a weekend but in the meantime i will PM you anyway.

Fingers crossed for you.

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Yours in Finance

Nzuv Sorry i believe it is the August not July edition.

Shoot me an email if you want a PDF version and i can send it to you.

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Yours in Finance

Hi Karen

I must admit i am not a great lover of cash contracts however as long as confident in your credit history and have carried out search on the property to make sure there is no encumberances and it will value up then i dont see an issue.

I can think of a couple of lenders who based on the information provided would lap it up and a couple of others who would want to go the deal in great depth but as long as you have enough time to settle i wouldnt see an issue.

Remember coming upto Xmas lenders are taking settlement bookings a lot further out so just get your timings right. i,e trying to settle on the 24th December has a good chance of not happening.

Hope this helps.

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Yours in Finance

Hi deakin

Firstly welcome to the forum and I hope you enjoy your time with us.

Many lenders i can think of wouldn't touch the deal on servcieability however in saying that a lot of others would.

If you are looking at potentially renting the property out then interest only would be the way to go although believe it or not many lenders wont allow this on a PPOR. Again many will.

As Dan has mentioned as long as you occupy the property for a 6 month oeriod starting in the first 12 months you will qualify for the FHOG however being in Vic you also need to factor in the Stamp Duty, mortgage registration etc which will come to circa $20,000 and then on top of that you will have mortgage insurance on the loan itself which could easily be $12.5 – $13k.

Your mortgage broker should be able to give you guidance in regards to going forward.

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Yours in Finance

Happens every day of the week and could be for a number of reasons.

If the loan documents where all back and correctly signed 3-5 days prior to settlement should be no reason why you cant proceed. Coming upto Xmas many lenders are taking bookings a lot further ahead than normal but this happens every year.

Get your Broker or Banker to push it and see if they cant get the Settlement happening as otherwise you maybe in default and up for penalty interest to the Vendor.

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Yours in Finance

Yes the waiving of exit fees is only on new Contracts.

Existing signed contracts old exit fees apply.

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Yours in Finance