Is it sensible to go to a bank and ask them to finance the purchase of a second house, for rental, when all you have is a fully owned house (of somewhat less value) – i.e. no cash deposit funds at this time?

That was my question in the beginning. The answer is: Yes.

And from there we can wander off in all directions covering all kinds of a…[Read more]

Why don’t we go to a broker?

Don’t know. Don’t know enough about anything. Have a feeling that brokers are for people finding their way through complicated deals sometimes difficult to finance – and for which they pay extra, often. Not to the broker. This thread has taught me, I think, that the broker costs the borrower nothing? But to the…[Read more]

Well thank you, guys. It should be a certainty then.

Tomorrow we will go to ANZ. That’s who we got our mortgage from before. As I said, turned out to be the only bank willing to give us a go if we infer from the change-mortgage disinterest of the others.

So we feel a little loyalty.

What’s loyalty worth to the rational investor?

What did…[Read more]

It is all my fault. I’ve still not been putting it right.

What’s the definition of income? That’s the point.

Does it include the income to be obtained from renting the second property?

Well guys I thank you very much for your responses but frankly they’re much like the banks…

Probably my fault for not putting the question correctly. It’d also be hard for you guys in the business to understand just what a newbie, how uninformed and naive I/we are.

Here’s another go:

Would you expect banks (i.e. conservative lenders) to…[Read more]

 Well thanks for the input, guys, I'm very happy to read it all.  And my apologies for my typo on the title of this thread – 'burying' a home? Must have a raised a few eyebrows here and there.  I would change it but I don't believe there's any way for me to do so, perhaps the moderator can/will.  Perhaps it was some kind of Freudian slip.   We are…[Read more]