thanks Terry..

Hi Janet,

What LVR was the Westpac lodoc loan?
Did you have to put down a ABN number?

Thanks
Grant

Hi Giovanni,

I would strongly recommend using a deposit bond rather than cash.
I used one through deposit access recently.
http://www.depositaccess.com.au
donnie@depositaccess.com.au (donnie was helpful)
Its worth shopping around as they charge different fees and have different requirements. Some said I wouldnt qualify while others said I would! They do…[Read more]

Hi G,

Isnt the rams pro-pack a Lodoc not a Nodoc?

Thanks
Grant

Thanks GR,
Just trying to digest all that.

first you get a end value of the project in your case 580k then you take 66.79% which is norm not 69% of the 580k which is 387,380.00 thats is the complete lend you have out of this 5% contingency cost 19.37k the lender hold this and interest 27.12k = 340.89k

So are you saying the lender lends 340.9k.…[Read more]

Thanks Simon,
Yes her branch lender is on holidays, and 4 calls left today with still no returned call.
We were just wondering in general how bridging finance works and maybe anything we should be checking or asking about. When or if we finally hear back from Westpac.
Is anyone familiar with Westpac bridging and what it might entail?

Thanks
Grant

Thanks Simon,

I dont wish to shift the loan, I just want to shift my PPOR to another lender (debt free) and I was wondering do I need some papers or something from the bank releasing it before I can do this.

Thanks
Grant

Friend of mine also uses ANZ. When he wants to refinance he just gets an appraisal letter from the local REA and ANZ are happy to use that as the valuation.
He gets a few letters and uses the highest one!!
He always works below 80%, it obviously wouldnt work if a MI was involved.

I would be interested to know if its ANZ policy or just something…[Read more]

Hi All,

Thanks for your comments / input.
My accountant has said that any lender that requires gaurantees from trust beneficiaries is wrong as legally no benficiary can be held liable for the trust debt.
However it seems out of policy some lenders do and some lenders don’t.
The wise old TerryW (broker) has told me to avoid problems it may be best…[Read more]

Hi HB,

The beneficiaries are unaware they are beneficiaries as they have recieved no income (yet).
The tax issue is quite simple – they pay tax out of the money they recieve at whatever there tax rate is.

Cheers
Grant

Can you do construction loans with no doc?

Thanks
Grant

Hi Terry

What does ‘A & L 2.5 times loan amount’ mean?
Do they do this loan for residential construction?

Thanks
Grant

Well, today was a lovely summers day, the surf was up etc..
Unfortunately I couldn’t enjoy it as I was stuck at my desk pushing my mouse around [glum]
However thanks for all the responses which have given me some hope of freedom![smiling] (from my job)
Hello grossrealisation.
What is ‘hsbc’
What do you mean by a term deposit helps…[Read more]