Have you managed to locate one?

I would be happy to discuss the services that I offer with you. I specialise mainly in property investors (and have another broker that works for me that handles first home buyers etc).

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
[email protected]

hi Morty – how did you go?

I would be happy to help you.

We have very high service standards. I always make sure that loans are submitted the same day we take the application (unless it is a night appointment of course then it gets loaded the following day). We also update you with progress reports whenever anything is updated on the loan.

I…[Read more]

If they are a mortgage broker ask them to give you some comparisons of other products to theirs – they should be able to do this. There are some excellent interest rates around for 100% home loans (if that is what you are doing) and also some competitive fixed and introductory rates at the moment – definitely shop around.

Anita Marshall
Advanced…[Read more]

hi there – I am with Plan Australia and my cousin uses FAST.

The reason I chose Plan above FAST is that they provide a lot more support, software and other things for a new brokers. I think FAST is probably excellent for highly experienced brokers but Plan offer a lot more ie:-

– regular lender training days
– they will give you your own website…[Read more]

hi there – i have 3 different clients that set up these type of deals on a regular basis. I am happy to put you in touch with them if you would like me to? If so send me an email or phone me and we can take it from there.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
[email protected]

Have you found out everything you need to know – if not let me know and i will email you some information if you like.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
[email protected]

I can honestly say i have never heard of it.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
[email protected]

A no doc loan could be a good alternative for you. YOu dont declare any income simply that the loan wont put you into financial hardship.

Most lenders will go to 70% of your property value and some will go to 80% if you have had an ABN for more than 2 years. There are also some that will go higher on a low doc (where you state an income but if…[Read more]

I agree with Terry – you rate might not be the best but it certainly isnt terrible and its going to cost you quite a bit to change. Another option may be to go back to the same lender and see if there is any product switch available – for a small fee you might be able to swap to another loan type with a more competitive rate.

Anita…[Read more]

I had the same issues twice with clients recently. One of them I got around by using an uninsured product through a lender called Stellar Finance (but they will only go to 70% uninsured) – the other one I got around because the client was insured with RAMS through PMI so we put the application through Stellar with Genworth instead of PMI –…[Read more]

I dont know of any books on the subject however if you contact an experienced broker they should be able to give you the details you require.

Things to keep in mind:-

– No doc doesnt require you to state an income at all – simply that you can afford the loan
– Low doc requires an income declaration and depending on the lender some also require…[Read more]

If you only need 80% LVR then i would suggest you go the “no doc” option on your declaration. This is where you dont state an income at all – simply that you can afford the repayments. No income, asset or liability verification is required. Interest rates are now very competitive for No Doc loans and this doesnt tie you into any income declaration…[Read more]

I am fairly sure that I have seen someone on the forums that is actually from the investors club so it may be worth having a look to see if you can find them and ask them the questions direct.

I handle loan enquiries for my area for clients purchasing through the investors club.

My understanding is that they receive a commission similar to if…[Read more]

Most lenders have bridging products these days based on their standard interest rates for a home loan.

Some lenders also have “end debt” bridging loans which is where you are only required to pay the payments on what your end debt would be once your existing property is sold. This can be very helpful for your cashflow position while you are…[Read more]

Which state? the stamp duty varies from state to state.

NSW would be :-

$5490 for stamp duty on the purchase
$1500 – $2000 legals (should be able to do it a bit cheaper but depends on what searches/inspections you decide to do)
$769 mortgage stamp duty (depending on the amount you borrow)
$1000 – allow for adjustment of rates/other variables (…[Read more]

Good point with regard to resale. As Terry mentioned the lender may also require a flood certificate from council. Some councils will not issue them for certain flood zones (eg. Port Stephens Council will not issue flood certificates for Salt Ash) so i would also make enquiries with the council in regards to what they will and wont issue.

Anita…[Read more]

With the amount of equity you have in your property you should have a selection of lenders that you will be able to apply through. I would recommend approaching a broker who can do some shopping around for you and come back to you with a selection of lending options.

Anita Marshall
Advanced Finance…[Read more]

I definitely recommend you keep them seperate – most accountants prefer it that way too because it allows them to keep the profit/negative gearings aspects seperate for tax time too.

If you need to use the equity in your existing property there are ways of structuring the loan to keep them seperate too.

Anita Marshall
Advanced Finance…[Read more]

No, i am not qualified to give taxation advice. I am a mortgage broker only so therefore would recommend that clients seeking financial advice regarding structure for taxation purposes seek advice from their accountant. I often call their accoutnants for them and discuss structure for the client. I do know of a few brokers who are also qualified…[Read more]

I cant see why not but i would recommend you check with your accountant – us brokers are not qualified to give clients tax advice and often an accountant will come up with structures for loans that will maximise tax benefits.

Anita Marshall
Advanced Finance Solutions
http://www.advancefinance.com.au
[email protected]