Hi
Advice required if anyone is able.
Expat , returned here a few weeks ago. Registered an ABN so its only a week old. Have 500k cash in an Aus account.
Want to buy an investment property of 500k but want to keep the down payment as low as possible – 25%
Any thoughts on products out there that may be available to me?
Thanks
RexHi Rex at that lvr there are a couple of lodoc 60 products that existing so you should be fine.
Richard Taylor | Australia's leading private lender
Hi Richard
40% down or 60LVR seems the norm in my situation from what I have read in the last half hour
Looks like thats what I will have to do.
Are the banks here open to pulling equity out of investment properties?
Reason I ask is in a couple of years when I have earnings and tax returns here I would like to take what I property down to a traditional 80LVRThanks
RexHi Rex
Not that easy these days unless they can see where the funds are going but to be honest what you would do is take 60% from day 1 and place the balance of your savings in an offset account or if all of the funds going both in and out of the loan where investment orientated could look at a line of credit.
Issues come where the funds being redrawn are not for investment ad you have a Tax deductability issue on the interest.
Richard Taylor | Australia's leading private lender
Thanks Richard
Can an existing property which I own outright be used as equity to purchase another property?
Yes thats fine.
Richard Taylor | Australia's leading private lender
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