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  • Profile photo of brisbane4069brisbane4069
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    @brisbane4069
    Join Date: 2011
    Post Count: 3
    April 1, 2011 - 8:07 am

    The % used for rentals does vary between lenders, so it is a case of working the numbers. Also some lenders will not add a safety buffer on rate for servicing calculations, when you have 3 year fixed (may just be a portion) 

    Profile photo of brisbane4069brisbane4069
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    @brisbane4069
    Join Date: 2011
    Post Count: 3
    March 30, 2011 - 6:42 am

    Hi Tristan,
    LVR and debt servicing are mutually exclusive & you have to tick the boxes on both.

    If you have currently $150k owing on $290k property AND you add another property worth $350k using an additional loan of say $360k your total borrowing is $510k on $640k total security = 79.7% Loan to Value Ratio. Yahooo, being under 80% means no mortgage insurance costs ; you pass go.

    On servicing the debt assuming no other debt (this includes no cr cards) on the info provided, plus a decent rental, you should also be OK. If you aim at having a 3rd property and are going to rush …rush slowly.

    Let me know if I can help.

    Profile photo of brisbane4069brisbane4069
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    @brisbane4069
    Join Date: 2011
    Post Count: 3
    March 30, 2011 - 5:28 am

    I would go with option (f) and combine the strategy in (a) if acceptable to the purchaser – assuming you have the income to service the debt. This is preferrable to bridging which places a stressful timeline on the process & may affect your judgement when it comes to the crunch. Also applicable rate is bound to be better

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