12 month term no DEF can be done! you just need to know where to look.

Hi Luke,yes you are correct, the type of security will differ the interest rate you are able to secure greatly. But generally on variable 7-10% are common. You should also consider a fixed rate, becuase ATM you can source these in the low to mid 5's for 1-3 years. Depending on the loan amount.Your broker should be able to source the right facility…[Read more]

i'd need a bit more information from you. if you'd like to contact me on my business email i'd be happy to discuss.kind regards,

Hi Sarah,when purchasing a house you'll need to involve a conveyancer for the property transfer. A good conveyancer will be able to assist you in writing a letter of offer up; alternatively you could write one up yourself or make an offer verbally.

If your borrowings are over $200k any of the major's will be able to help. Also AMP have a good basic variable product out at the moment with a 100% offset account with no annual or ongoing fees.cheers,

Hi Bravo,as they say rent money is dead money. by renting your probably paying someone else's mortgage off. Although there a substantial benefits to be made with an investment property. The benefits of an investment property are rental income, depreciation and interest and bank charges can be claimed, to name but a few.I suggest you speak to y…[Read more]

Hi Mixedup,Depends on your circumstances. Are you going to apply for a Fulldoc or LoDoc? Do you have another property with equity that you can use for a deposit? Or are you wanting to apply for a 100% lend?I suggest you chose a loan with a 100% offset account. this way you have flexibility with your loan and can offset interest charges. The b…[Read more]

Jaffasoft,your correct in assuming the bank's make less profit of this kind of loan. The banks are a business like anyone else and they work for the shareholders. So their number one aim is profit, and they'd like to keep you in debt for as long as possible. If your bank is doing you an injustice i'd consider taking your business somewhere…[Read more]

Your talking commercial products here where a business banker at any bank should be happy to do business with you. This does not fall into the standard mum and dad construction arena.regards,

Hi Misty1,when your talking Constructions and Developments, they usually don't require financials. the lenders usually go on the strength of the deal. If the LVR at the construction stage is 80% or under and you capitalise interest repayments you wont need to provide financials. Also if the bank sees you stand to make a profit upon completion…[Read more]

Hi Jules,With a good income and minimal deposit 106% lends are available. this means you can borrow 100% of the purchase price and borrow the costs too, e.g stamp duty and other fees. But if you read the earlier posts there a post code restrictions where you can buy.Your post says you want to buy your first investment property, so if you have…[Read more]

Hi Rob,If your getting knocked back from some lenders you should consider a non bank lender, who'll take into consideration 100% rental income.regards,

Hi Salil,I've settled many loans with AMP, and they offer a very competitive product with one the lowest rates available with very minimal set up costs and no ongoing fees with the Basic variable product. There loan processing department is efficient and provide good post settlement service. Whilst there Basic variable loans is good at the moment…[Read more]

Have you got someone who can go guarantor for your income to prop up your serviceability. this way you can secure the property.regards,

Yes Richard. It won't be the last either.regards,

Back to the original question. X Inc i believe are a securitised lender, they use products equivalent to Challenger and Firstmac. The problem with these Non Bank lenders are the break fee's. Generally they are applicable in the first 5 years of a loan, if it is to be refinanced. And they can have astronomical break fees up to 2.5 times your m…[Read more]

When taking into consideration high LVR refi's most lenders will go up to 90%. 95% LVR's with caplitalised LMI are basically 97% lends. Bare in mind you'll need a genuine reason for cash out when talking LVR's over 90%. You'll need to provide an explanation as to what those funds are to be used for. Hi LVR loans have stricter Lending Policy's an…[Read more]

Hi Jeff,if you have a base security to use with plenty of equity you wont need to go down the path of a development loan. A capitalising Line Of Credit will probably be sufficient, Although i don't know all your circumstances to recommend this.Development loans can be quite different from one and other, but when your talking development loan's…[Read more]

Hi Mark,you'll have to check your loan policy. Most variable rate products will allow you to 'park' your cash onto the loan with a full redraw in the future. This would be the cheapest way to go.(if not you might want to consider switching). It sounds like the IP has positive cash-flow, which is a great place to be. Depending on whether your IP…[Read more]

Hi Damien,In response to your question PPOR stands for; Principal Place Of Residence. e.g .Owner Occupied.Here's a couple of things you should take into consideration. As discussed in earlier post's LVR has to be considered. But the other fundamental that you have to take into consideration is serviceability.  If you already owe above $350k…[Read more]