Ohhh didn’t see the numbers…

Ur on 83% LVR already…
1. don’t have much equity there
2. It be hard to get 2 loc with the lMI ppl
3. LMi will cost ya- so your investment better make a good return for the cost involved.

Regards
Michael

For your purpose i would say Option 1 makes more sense, and if done correctly it shouldn’t be tied up.

Regards
Michael

Depends on your risk tolerance and if you can “afford” to take that sort of risk.

Do you have stable job? cash buffer? family and financial backing/support? and do you have experience etc…

It’s like riding a bike, As a rider for the first time, you may want to spend a bit more and buy some training wheels ( 4 wheels) yes it’s more expensive…[Read more]

By the way is it a Hybrid trust?? Most hybrid are not done correctly.

Regards
Michael

Sorry to say; some trust sounds like the perfect “investors” trust but most of them are either not acceptable by banks and the ATO! due to the fact they have to many restriction and “what if” .

Sometimes keeping it simple and going with a simple trust that “works” and does what it does is the best solution.

Having said that; i have never had a…[Read more]

Well if it’s 0.9% with Westpac then stay….yes their SVR is slightly higher- so the rate is still higher then ANZ etc…but for such a small loan and small diff in rate it’s not worth the change; financially.

Regards
Michael

Good luck with westpac….
nab will match it- you just need to ask and escalate it
http://www.shapehomeloans.com.au/blog/nab-will-match-any-advertised-rate-2011111160

Regards
Michael

Ch4rlie wrote:

Qlds007 wrote:
Really i certainly deal with the larger banks but many smaller lenders also.I would touch ubank with a barge pole for lending but i guess you are no me.CheersYours in Finance

Just got off the phone with Suncorp, they have a package with a discounted variable at 6.55% and their 3 year fixed rate is 5.99.Sounds…[Read more]

If a broker ONLY deals with the Big 4 banks and the more “main stream ” banks, i can tell you; THEY WILL NOT SURVIVE in this market place. Clients situation can change quite a bit…and we need banks that can match the client’s needs as it changes… and sometimes this means going to credit union , smaller banks , non-conforming , international…[Read more]

2 Risk –
1. your pretty much buying land…when it comes time to sell.; it may not have gone up much in value unless you build or if the place experience some good capital growth and demand.

2. Insurance, i don’t know any insurance company that will insure this- yes you may not need insurance as it’s “cheap” and you would rebuild a new place…[Read more]

Contact Richard – you won’t regret it!

Regards
Michael

As Jamie said; it’s the same deal offered by a “more well known” lender.

Regards
Michael

Good luck with Westpac or CBA- they have ~28%+share of the residential market each!!! so they are big enough not to care about one or two loans…especially high LVR and low loan amount clients.

I’d say take the 0.05%- then 2 month later complain again and get another 0.05%.- it be hard to get a straight 0.1% whack given your high LVR because…[Read more]

Hi Wayne,

i sent you the email + question-air twice.
Once yesterday in the arvo, and once again this morning at 12.20am.

Check your spam folder?

Give our office a call on 1300 74 5626 – Ext 2.

Regards
Michael

Due to the size of your development – this will fall under commercial finance.
Have you spoken to any broker or bank about your project to see if your financials is good enough for a lender to accept the deal?

Regards
Michael

Kohlhagen Group – Great post and good to see you sharing and answering questions, at post number 3

Hope you can stick around, always good to have a experienced accountant around that’s willing to share/help,

Regards
Michael

Yep got your email; have sent you a question air to fill out so we can understand your financial a bit better.

Don’t want to give you false hope; but at the same time don’t want to shoot you down without trying- so once i get the info back from you we shall go from there…

Regards
Michael

Jamie- like measure and quote? or start on the renovations?

Regards
Michael

Why Rams?? they won’t help with “serviceability” issues; they are however a lender that offers a range of low-doc products including 80% LVR, accountants letter only etc….but that won’t help in your case- sounds like your broker is firing blank shoots.

If serviceability is an issues and your wanting Low-doc then i can only think of two lender…[Read more]

In 2 years time…go to Doman.com.au and i can be 100% sure if it’s a massive development ( over 40 units) then there will be at least 3 up for sale! 3 month before completion and after…and it may be cheaper too ! lol

Regards
Michael