The Location and post code are acceptable to most lenders and mortgage insurers RegardsCraig

Xinc is a mortgage group similar to Aussie Home Loans and actually branched away from themthe product is a professional pack loan with annual fee which provides a discount based on the loan size +$300k  I understand the product the discount relates to is their own branded and mortgage managed product This product will have exit penalties like…[Read more]

It does seem a little unusual to see Richard suggest one of these loans however they do have their place and provide no more risk than any traditional loan.  What they do provide is a simple structure which is pre set by the lender rather than leaving equity management to the investor.   For this reason I consider they fit new a investor profile e…[Read more]

Another factor to consider is splitting the loan accounts into 3 separate accounts.  Whilst this can be done with most lenders Colonial (CBA)  have a specific structure which requires for each owner to individually service their own loan account.  (Richard doesn't like this lender) Each owner of the property must guarantee the others loan ho…[Read more]

Hi DaedalusFor commercial property there should not be any rate difference if using a company or trust.  AS with domestic mortgages there does not have to be extra charges it is lender dependent.  If you have sufficient equity you can utilise a basic mortgage however if using commercial property as security then the loan structure is s…[Read more]

Hi KirstehBanks will generally take the lower of purchase price or valuation on the basis that the purchase price represents the current market value.  The LMI is a small price for the gain you seem to have made.  Some lenders will take the valuation amount (which at this point is not known ) and unless a valuation came in significantly higher t…[Read more]

Hi AnzionI think it may be worth the wait to let the fixed rate run its course however as the cost of an extra 0.25% I think would be more over 12 months than the cost to loose your lower rate for 4 months.  Fix the LOC or set up another sub account if the funds are utilised. A line of credit fully drawn is just an interest only loan anyway. For…[Read more]

Hi George Happy to help also You have made the first step in looking and checking there are a large number of people who simply set and forget often providing a boost to the lenders profit margin RegardsCraig

Hi Certainly a separate loan account or split for the new amount will have its own calculations for interest and the purpose it is to be used for will determine the tax application to this account. Regarding your offset amount you may wish to consider lowering the home loan amount by $50,000 and making the investment split for $84,000 With the…[Read more]

Hi JuderLoans can be taken to 100%+ so that fees and charges can be included.  You may find that there is a difference in the the way lenders calculate positive cash flow as a means to service a loan so some supporting income may also be required.   The other thing to consider is that 100% lenders are usually only interested in high population ar…[Read more]

Hi Anita this is a very good question and has quite a few answersIt is my experience that many people cast options amongst brokers looking for diverse options which will commonly provide a diversity of feedback based on broker knowledge and presumed product criteria.  This is usually without the benifit of intimate client financial knowledge. At…[Read more]

As a general rule up to  70% is considered standard however unless the property is considered specialized then up to 85% can be achieved.You must also consider that establishment and valuation costs tend to be much higher than residential. In this case your $85k is almost enough for the deposit at an 85% lend however I would expect that you will…[Read more]

Bit late on the scene but if you are still looking you may like to call Phillip Aggs and Co Level 17 127 Creek Street Brisbane Phone 07 32210963referred by Craig

If you look at the product disclaimer on the web site it will show you the company is part of the Sample and Partners Group which focus on mortgage reduction and budgeting programs usually charging a fee for this service.

Hi JayroIn a lot of cases it pays to break the big picture down into sections.  for example Your current structure – what is the maximum you can achieve without introducing anything new. Naturally leaving this with your current lender will then save potential new loan expenses especially lender mortgage insurance.Knowing what you have in terms of…[Read more]

There are a couple of lenders who will provide a higher servicing level using fixed rates which could be a good solution – You would loose the flexibility of a Line of Credit but secure against the current interest rate climate and increase your borrowings.

Wow wasn't that funbut where are the accountants with opions on this too.

So true Alistair except this is non regular typeof loan which offers DSR up to 67%, does not use a mortgage insurer and the capitalised interest is tax deductable, unlike the interest capatalised in a loc or offset account.  Craig

Sorry that seems silly the whole concept of the low doc is to take away the need for a lender to intepret figures by simply making an income statement .  Naturally from an affordability factor you will need to be able to afford this as the onus is taken away from the lender, which is why you are generaly signing a statement which specifically…[Read more]

It appears there is plenty of equity for an equity only loan.  I would suggest a staged finance approach to your plan spreading the lending.  You may find if you are using one lender such as St George you will be capped not only by income, and security but also with to total loan amount expecially under low doc Does your company have gst registered.Craig