This is the confusing part. I knew that the actual thing is kicking in 1/1/2011, but I believe we may have to start preparing the responsible lending and preliminary credit assessment from 1/7/10 already?For me now every single application feels like a trap – annoys me badly!! Well for S/E with BAS that's not a big issues but for those who needs…[Read more]

Well sorry banker but I need to add my comment with my bad experience with CBA.One of the thing that I hate the most is that the file is managed by a number of different people and they always ask for something new. I just called CBA today 430pm for the status of a file which is scheduled to be assessd today. The operator told me that "you've…[Read more]

OK Thanks a lot Geraldine. Um I think this is a better approach.I haven't never done a sub-division personally so I didn't dare to comment or advise anything but I guess now the best is for my client to go and see a surveyor for pro advice.BTW anyone from WA can confirm if the subdivision is similar to the SA subdivision? any chance that we can…[Read more]

Well I don't see why you can't – unless your ABN is less than 24 months?I'm based in Perth – drop me a line via my email and we can have a chat.

Hi LadybirdDo you meant the cost-plus builder?If you are I would suggest you to be very careful about this. One of my client had just engaged the service of a Morley based builder. He had his 2-stories plan drawn by someone else and get this builder to build.My client was very upset as a lot of the things are not done in the way as the plan…[Read more]

It depends on what units is it. if they are individually titled standard residential units you may be able to get 80% borrowing. Can you provide a bit more information about these units?From my calculation you have more than enough capacity. did you include the rental income when you did your own calculation?William Cheng

RichardThe "Dragon" bank will do up to 90% for Aust citizen residing overseas.Camelalso I know a guy in WA will do vendor financing but only limited to the proeprty on their panels. they are kind of like a property agent but offering vendor financing to their listings. however, that also means you may not be able to find the right property in the…[Read more]

Hi Camel,Are you an Australian Citizen? If so a number of banks will accept your income and will lend up to 90% of the property value to you. However, 90% is the max at the moment.William Cheng