I understand that Terry. They can do the same thing with an Interest Only loan and an Offset Account and make whatever decisions they need to when their equity position is where they want it – ie: do I take the cash out of the Offset Account to buy something else and save myself the hassle of getting another loan or do I wipe out the debt by…[Read more]

I never implied it was Terry but the cheaper loans today with all the bells and whistles provide as much, if not more, flexibility than a lot of the more expensive products I have seen of late.

Thanks for your comments Stuart. Do you have a link to any of the studies. I am intrigued by it.

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E:…[Read more]

Gearing up properly just refers to doing it at sustainable levels. It will look at such things as interest rate risk (increases, etc), return on investments, vacancy rates of investment properties, opportunity cost of paying of more debt rather than using funds elsewhere, etc…

Don’t just do it because it is there but because it is part of a…[Read more]

I think the full product disclosure statement should be read before making a decision.

I would be looking to see if the company running the carpark is asset backed, do they have other carparks, do they own the one you are investing in or are they leasing it, etc…

I would be specifically asking why they are forecasting the huge change in growth…[Read more]

CBA / Colonial are not that bad if you know how to deal with them. They are one of the only lenders who charge a single annual fee of only $300 for multiple property investors which provides you with your home or investment loan, an offset account (which has only recently become half decent to use) and a credit card. All this with no other fees or…[Read more]

I learn so much on this site about trusts. This is good stuff but it just tells me I need to sack my team and start again. I think my new accountant is decided. If nothing else, the cost of the seminar was worth it just meeting up with Mark Unwin. I just need to sort out how to get all the paper work together and down to Melbourne so it can all be…[Read more]

The title passes to a purchaser on settlement of a property transaction. That title simply has a mortgage over it meaning that any sale of the property would need to address the mortgage before title can pass again to a new purchaser. It is not a big deal.

If the clients are about 50 now, they should have no problem getting a mortgage. In any…[Read more]

If you are going to copy and paste this thread to Aussie, let John know that he owes me around 40k and if he keeps ripping his old brokers off, it will eventually come back and bite him in the bum!!!

At Aussie, they will save you…

At Mortgage Packaging, we’ll REALLY save you!!!!

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E:…[Read more]

You should be able to borrow more than you think. Some lenders will use child support if it is regular and you will be able to use rental income as well. There is always something that can be done especially with all the equity you already have.

Find a good mortgage adviser and things should become clear.

Robert Bou-Hamdan
Mortgage Adviser

M:…[Read more]

Yes.

Your advice was poor if you were being knocked back on LMI.

Crossed or not, if the total borrowings exceed 80% in most cases, there will still be LMI. If your borrowings were under 80%, you could have done the loans as stand alone.

The main reason I am against cross-collateralising is because if things go bad, the lender will sell the most…[Read more]

Do you want to do me a favour 2young???

Can you write to the Minister asking him why you are not allowed to select your own broker if they are not licensed in WA?

It is a breach for a Mortgage Broker to write a loan for a WA resident if they are not licensed in WA.

Mention my name if you like as he is very familiar with me!

Robert…[Read more]

I think the Bloodline Trust would have had to be created before the father died. I believe it is too late for that.

Regarding the existing assets, the new guardian will probably become the trustee for the children. If there are no relatives, it may be the Public Trustee.

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E:…[Read more]

Everyone is assuming there are Capital Gains. The property was bought in the beginning portion of a downward or sideways property cycle 8 months ago so the Capital Gains, if any, would be minimal. You would probably even have a huge tax loss to offset against future income when considering costs to get in and out.

Unfortunately, the property…[Read more]

I should add to my earlier comment about the main difference between a Line Of Credit and Standard Loans is a cheque book before someone bites my head off.

A true Line Of Credit is also evergreen. This means that it can go on forever. You get approved for a set limit and can draw up to this limit as often as you like. A standard loan has a…[Read more]

I loved ‘The Young Ones’. I was shattered when it went off the TV.

Vyv, you might have some trouble with security types. They are not considered favourable when they are so big and so far from Metropolitan or Regional centres. More deposit will be needed and/or possibly higher interest rates.

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347…[Read more]

There is a little bit of information available at:

http://www.mortgagepackaging.com.au/index_files/product_types.htm

Don’t forget to check out “No Doc” loans as well. These are also commonly known as “Asset Lends”.

The main difference with these types of loans are the different documentation requirements. The products are predominantly the…[Read more]

You can get 80% on Commercial if it is a strong deal. I would also advise trying to secure funds against residential security as the interest rates for Commercial Finance are often 1% or more than that for residential security.

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E: robert@mortgagepackaging.com.au
W:…[Read more]

A 30% vacancy rate is very commonly used by lenders in their servicing calculation.

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E: robert@mortgagepackaging.com.au
W: http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm

Comments made are of a general nature and…[Read more]

You could always keep your house and buy the new place if you can afford that.

Alternatively, you could utilise a bridging loan so you would not have to rush to sell your house.

Either way, you might like to at least get a conditional approval (pre-approval) done as soon as possible to know the lender will forward the funds. Sit down with a good…[Read more]

Good point.

I am having a very relaxing weekend overall. I am juat playing around online all weekend.

I hope yours is going well also.

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E: robert@mortgagepackaging.com.au
W: http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter: See -…[Read more]