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February 26, 2010 - 7:44 am

Thanks Richard & Terryw

Can you explain to me what a Nodoc Commerical Loan is and how I would go about taking one out? I've never heard of it before

And how can I get my commerical property to sercure itself? Can this be done now or further down the track.

Carlito

Thankyou guys once again for your assistance

February 26, 2010 - 5:51 am

Thanks Richard.

That makes more sence. 

If I'm using my PPOR as security for the commerical property is this a problem? Or should I've done it a different way?

Carlito

February 26, 2010 - 5:40 am

Hi Terryw,

What would you do in my situation? Am I correct in saying that the most i can get for a LOC is $246,000?

I would like to borrow about 350,000 for my next IP but can I do this without CC my loans? LOC is only at $246,000 (if that's correct)

I just want my loan structure correct going forward. 

Carlito

February 26, 2010 - 4:13 am

Thankyou for your advice guys.

Duckster I understand what your saying but shouldn't you take of the $300,000 loan also into account which is still owing?

Like your comments above 700,000 LVR of 80% = $560,000 but then should you deduct the $314,000?? (14,000 & $300,000) which leaves a LOC of 246,000??

Sorry but i'm just trying to get a better understanding as it's all new to me.

Your comments would be much appreciated

Carlito