Equity can be accessed for the purchase of multiple properties. The assumption is that there is adequate equity to do this since the loan is completely paid off against the current property. 

It is important that the facilities are standalone and that the interest is not contaminated between the IP's/purposes. The strategy then is do you go 95%,…[Read more]

I am finding a big difference in the valuations across banks. It may be a good idea to get a few upfront vals to see exactly how much equity you can squeeze out. Also get your broker or banker to contest the val and milk every dollar that he or she can.

There are many banks that do upfront vals.

Regards

Shahin

Colorbond fencing is a bit tacky in my view however they are far more durable than palings. Make sure you also get a few quotes.

Regards

Shahin

Are you purchasing just one IP or do you have an aggressive plan over the next 3-5 years?

Regards

Shahin

St George cops a bit because their service has been ordinary however they do have good servicing which is a very underestimated aspect of finance particularly for aggressive investors. If you can get 4.99% with St George then you have done well. I bet you will start sleeping well at night with a rate of 4.99%.

Regards

Shahin

I have a few investors who have purchased near the uni and getting quite strong yields – I would prefer houses to units though.

It would be good to speak to an expert (whether it be agent or investor) who knows the area inside out.

Regards

Shahin

Well it depends if you can someone smart enough to pick that up but yes that will be an issue that you need to be prepared for. In that particular case you cannot say that you are leaving for the rate – you will need to have a primary reason as say bad service or something a little stronger and then say that Westpac is offering 4.99%. Its still…[Read more]

No Steve! Do a proper analysis before choosing a lender. Bankwest has terrible servicing and quite frankly terrible policies. 

Regards

Shahin

That is ridiculous – how are you expected to put in an offer if you don’t have visibility of the COS? I would politely move on. What state is this?

Regards

Shahin

It's CBA chances are that you will get another douche bag or douchette.

Regards

Shahin

I had a client yesterday with similar borrowings but a lower LVR have St George price match the 4.99% offer.

Give them a call, ask for the discharges unit and take it from there.

Regards

Shahin

The broker cannot call unless they have third party authority. You will either need to grant that (which I would not suggest) or you would need to call yourself.

Regards

Shahin

You have several options here. Many banks will do non genuine savings to 90% plus LMI. 

If you have been renting for 12 months – there are many banks that will consider this as genuine savings.

You have a few options so compare the products and see which ones works out best. There may be other factors you need to consider like servicing etc as…[Read more]

That will not be an issue Joe unless you are calling them every week.

I would personally give it a week before trying again.

Regards

Shahin

Many serviced apartments have a condition in the clause where you cannot live in the property which many lenders consider as unacceptable security. There are only 3 lenders that will accept this.

Several lenders do serviced apartment but it is dependent on a number of things:

1. Is it pure investment or can you use the property as PPOR. If there…[Read more]

That is very surprising for 2 reasons; one CBA are notorious for throwing everything but the kitchen sink at customers who are moving away and secondly I think that there is room for rates to go down again. 

Not sure what your LVR or loan amounts look like but 5.50% is a good variable rate Joe.

Regards

Shahin

Hi Mate,

It doesn't work that way. If there are internal projects then they are deemed as one organisation however when it comes to the sales channel (whether it be 1st part or 3rd party) then its game on. Call STG – I had one customer last night you called and got them to price match but she does have a higher amount of lending.

Regards

Shahin

Call the bank and ask them to put you through to their discharges area. Tell them that you have been dealing with a broker and he has prepared an application to take to to Westpac who are offering 4.99% on a 2 year fixed rate. You can through in other features that Westpac do that other lenders don't do. Then tell them to send you the discharge…[Read more]

What does the Contract of Sale say?

Regards

Shahin

I think it will continue to come down but for those that want to mitigate all or part of their loans/risk then it is certainly a good rate. If you are looking to fix now and bank with another bank other than Westpac then call you bank and speak to their discharges – I have already had clients successful have their banks match the 4.99% on…[Read more]