brownwombat – you went to the wrong bank. Most lenders will do 30 year loan (Big 4 will).

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Suncorp and HSBC both offer 6.19% fixed for 5 years. I think these are the best.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

I’m just about to call a client that has a very strong asset base ($2 million + in property alone). She has no debt but wants some so that she can continue investing. She is 70+ years old.

Bill Gates was about 16 when he started Microsoft. Colonel Sanders was 65 when he started KFC.

It’s never too early or too late!

Cheers

Stu

Property &…[Read more]

I just got a client 6.55% for the purchase of 5 retail shops in semi-regional Queensland… there are good commercial rates out there for strong deals.

Standford, you may want to consider financing the purchase of commercial through a combination of residential and commercial finance (this would achieve the lowest cost).

Perhaps see my article…[Read more]

If there is no other way then yes it probably is worth it. Just make sure the lender is ok to lend against it once all set up (maybe get a pre-approval on that basis).

Perhaps don’t give the personal loan lender too much information about what the funds are for. Best to just say that its for investment purposes.

Cheers

Stu

Property & Finance…[Read more]

Try CBA. There reckon that they will lend 80% just about anywhere.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Yes. (generally – for full doc loans)

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Most lenders will not accept these as securities. Can you get some unsecured funds (e.g. personal loan, etc.) and then once the house is all set up pay out the personal loan with a mortgage against the property?

Depends on how much the house is and how long it will take to set up… might be an option.

Cheers

Stu

Property & Finance News
at…[Read more]

A broker should be able to add value over and above just recommending a good product. Things like:

– Loan structure.
– Serviceability issues and how some lenders may be better for them.
– Dealing with issues such as abnormal properties (small units, multiple properties on one title, rural areas, etc.).
– Give you the benefit of other client…[Read more]

Thanks for the comments Del and Trueblue.

Here are my contact details for those that would like it:

Stuart Wemyss
Lvl 1, 530 Lt Collins Street, Melbourne
Office: 03 9909 7100
Direct: 03 9909 7105
Fax: 03 9909 7107
Web: http://www.prosolution.com.au
Email: stuart.wemyss@prosolution.com.au

Not sure what else I can give you…

Cheers

Stu

Property &…[Read more]

Perhaps ask the lender if they will accept a valuation that you commission (you have to tell the valuer who the lender is and that it is for mortgage purposes). That way you can control the process and feed that valuer with all your supporting information.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

I agree totally with Dogs. I’m just writing an article for The Australian about this. This arrangement can save you from nil to 5% (of interest payable)… not that great really.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Mike

Under the Privacy Act you are entitled to a copy of all your personal information. I think they have to give this to you within 30 days. (National Privacy Principal 6)

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Welcome Gary,

Advice and knowledge sharing is always welcome and encouraged.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Banks should pick this up during the assessment process. If they do then they will only lend against the $50k. This is an oversight of the bank and I would imagine that you would not be successful in getting this through every time (unless you are dealing with a very incompetent lender – there are a few going around).

Cheers

Stu

Property &…[Read more]

I totally agree with Richmond (for what it’s worth).

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Ring the ATO 3 times to ask the same question. If you get the same answer from three different people then there is a chance that they may be correct… that’s about all you can do.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Andrew

Get a copy of the June-July API magazine. It has a very good article about this (you can buy back issues on API’s website (www.apimagazine.com.au).

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Caz

I understand that you emailed Josie and she told you about Liberty (and set out your other options). I can tell you that Liberty is not on our panel (I’ve been meaning to set up a meeting with them) however we still took the time to fully investigate your options.

1. I think brokers should always consider the best lender for the client.…[Read more]

Hi Crashy

I’m not trying to tell you how to suck eggs but I can offer some advice (after working in the finance industry for a number of years – super, corporate finance, chartered accounting, SIA, etc.).

It’s all about relationships. An employer is taking a big risk by employing someone with no experience. There is more than just technical…[Read more]