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  • Profile photo of SC2007SC2007
    Join Date: 2007
    Post Count: 3

    My situation:

    PPR valuation should exceed $600k Loan $360k

    IP valuation $400k loan( interest only) $300k

    Both the loans are stand alone with different banks.

    Thinking of another IP for under $400k. Need a good broker for advise.

    Profile photo of Jamie MooreJamie Moore
    Join Date: 2010
    Post Count: 5,069

    Hi SC

    Without knowing too much of your details – and based on the limited info available I'd probably look to tap into the equity against the PPOR – set it up as a second split to cover the deposit/costs on the next IP. I'd then set up a separate, stand alone loan to cover the remaining balance of the IP.

    All in all, your equity position is good – it's just a matter of assessing your borrowing capacity amongst a few other things to work out the best option.



    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of oc1oc1
    Join Date: 2012
    Post Count: 148

    I'd call Jamie here for more info, especially if you're uncomfortable divulging more info here.


    Profile photo of Don NicolussiDon Nicolussi
    Join Date: 2005
    Post Count: 1,086

    Hi _ do you have any further information. What are your goals? Upfront valuations will determine your true equity position and this will be a good starting point. However, we will need to know the income side of the equation to have a look your ability to leverage that equity into other investments

    Don Nicolussi | Mortgage Broker - Home Loan Warehouse
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    "I think of finance as a technology, a way of getting things done." Robert Shiller

    Profile photo of PLCPLC
    Join Date: 2012
    Post Count: 400

    It seems you have a reasonable equity position and setting up your IP loan as interest only is the correct thing to do so it's been a good start by yourself.

    As others have mentioned, more information would be needed before making recommendations.



    PLC | Phoenix Loan Consulting
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    Melbourne based Mortgage Broker | Making Finance Simple

    Profile photo of Richard TaylorRichard Taylor
    Join Date: 2003
    Post Count: 12,024

    Welcome to the forum SC and i hope you enjoy your time with us.

    I always favour reducing the amount of debt secured against your PPOR for the IP deposit so would probably suggest it is a matter of working backwards.

    What we would look to do is establish what you would need to cover say a 10% deposit on a 400K purchase and then add in the acquisition costs etc.

    Then we look at restructuring your current PPOR loan to raise the shortfall.

    Assuming you have sufficient income to support the total borrowings i cannot see any initial problems but as mentioned probably a matter of organising an upfront valuation on your PPOR to work out what equity you have to play with.

    All in all structured correctly you should be able to acquire the new property and put you in a position to start reducing the non deductible debt on your PPOR and set yourself up for further investment acqusitions.


    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
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    100% Investment Finance now available on selected properties. Email us for further information.

    Profile photo of TerrywTerryw
    Join Date: 2001
    Post Count: 16,213

    What do you need advice on? Consider structuring and tax and a few asset protection strategies as well.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide)

    Profile photo of DaOneDaOne
    Join Date: 2008
    Post Count: 38

    SC2007 hope you have found a good broker to talk about your situation and they were able to help you

    DaOne | Oras Finance - Your Local Mortgage Broker
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    Help you make your dreams come true:

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