Are they both IP's or is one of the properties a PPOR?

1. Make sure you have landlord insurance
2. Make sure you inspect the property religiously every 3-4 months. 

I would be getting an upfront val ASAP for a number of reasons. Train tracks quite be a massive issue or not an issue at all depending on the location of the property. 

I currently have a client selling her property which backs on the train line and she had 42 people at the first open house and has received 3 offers. However this doesn't apply to…[Read more]

nah the us vs iran thing has been going on for ages and it will (unfortunately) never change. Iran is not Egypt, Syria or any other middle eastern country. It has a devastatingly complex and intertwined government structure.

You called it the persian gulf – im impressed!

Are working overseas because overseas income can be used (even if you are self employed overseas).

LVR would be dependent on a number of factors. Also are you purchasing the properties or do you current own the properties? 

Which part specifically? The building itself? Stormwater? 

You would need 5% plus government and other charges (such as Legal, B & P). This equates to around 8-10% of the purchase costs.

What is the purchase price and what is the total deposit that you have?

Its generally the directors so your plan is a good one. Set up costs are between around $2k-$3k. Which State are you in?

The lender needs to feel comfortable with your income stability. You need to show this. This somewhat includes the line of work, if you have any steady contracts, the price of the contracts, duration of the contracts, etc. Best to have your banker or broker look at the overall application and determine what is possible.

80% is doable and a lot will do with the line of work and the overall strength of the application. What is the line of work?

Plenty of lenders – just did one today with Westpac on a vacant land at 95%. 

You can refinance your property at 95% with most lenders and most likely go to 90% with your current lender. 

Based on the a property amount of $300,000 – even though there is LMI payable I would be comfortable with going to 95%. 

The big variable will be the valuation so I would consider ordering several upfront vals. Most lenders offer this,…[Read more]

Why go with a lender with a postcode restriction?

No worries – plenty of people of the forum who have built GF's so ask away if you have any ?s.

That is because it makes their life when the LVR is 80%. Several lenders have a no val policy at 80%. We have financed plenty of "shacks" at 95% but there may be other attributes of the property you need to look at. 

On the face of it – it is ok. However, you may need to consider other elements such as postcode/location of the property, LVR, etc. You should be able to go to 95% plus LMI. You will need to structure the application correctly and choose the right lender.

Also BC charges a contribution fee – I think its $5k. Factor this in your costs.

Ascertaining the GF approval should be easy under SEPP. This is a good document that will help you:

http://www.planning.nsw.gov.au/LinkClick.aspx?fileticket=b3Gn_0dCm1k%3d&tabid=313&language=en-AU

Also consider an upfront valuation if LVR is tight. 

Excellent – that should be ok just (based on the information provided) but make sure your broker or banker validated this prior to submitting your application.