Have you paid LMI on your current property before?

If so – then it’s likely to be more cost effective leveraging up to 88% against the existing property as the LMI costs shouldn’t be too high (just an adjustment to the premium you’ve already paid).

If you haven’t paid LMI previously – look at the difference in LMI costs when borrowing more than…[Read more]

Can’t speak directly for Loan Ave as I don’t have them on my panel of lenders – but there’s nothing wrong with smaller lenders per se. They are the ones loaning you the money – not the other way around. If your borrowing less than 80% of your properties value and the loan is variable – refinancing later on won’t be too costly (if you decide you…[Read more]

Keep the offset. I’d pay the $10 per month to avoid taxation implications down the track.

I don’t know what rate you have – but $10 per month for a loan with an offset isn’t too bad considering most other lenders charge a package fee that’s $350 to $400 p.a

Cheers

Jamie

Use the search function on this site – or even just google

Contact your solicitor and get them onto the case – that’s a pretty big oversight.

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Jamie

Sounds terrible – you’ll be as likeable as the charity workers that harass people outside of Woolies.

What is a property membership exactly?

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Jamie

I can’t speak for all brokers – but part of our role is explaining to clients why certain niche policies may fit their particular needs. So yes – of course that information is divulged. However – handing over a 100 page policy document that encompasses ALL of a banks internal policies would be out of line (I assume that’s the info you’re…[Read more]

Yes – plenty of posts regarding them on this forum and others.

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Jamie

Different lenders have different niche policies – and these are updated frequently.

Most brokers struggle to keep up with policy – so I wouldn’t expect consumers to know the ins and outs.

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Jamie

Hi and welcome aboard

Where are you looking to purchase?

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Jamie

How much is the credit card default?

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Jamie

There can be issues with getting finance.

If you need to borrow more than 80% – you might have issues with getting LMI to approve the loan.

Basically – if the valuation comes back and says that the property is in close proximity to powerlines – the bank may restrict the loan to 80% of the properties value.

It will effect future resale value…[Read more]

You don’t neccesarily have to use different banks – but you should certainly keep the loans uncross collaterised.

Do to that – you simply set up two loans against your owner occ (one for owner occ purposes and the other for the deposit/costs on your investment(s)

So if you were purchasing one IP for instance – you’d have three loans set…[Read more]

Get Terry to sort it out – guy knows his stuff and distance shouldn’t be an issue.

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Jamie

Richard Taylor from this forum.

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Jamie

Hi Peter

Welcome aboard.

Without your own savings to go towards the deposit/costs it might be possible to use a family guarantee.

The folks would have to put up their property as collateral for yours.

You’d still need to be able to demonstrate that you can service the debt.

Guarantees are generally for owner occ properties but some lenders…[Read more]

Some banks allow you to order a valuation on your property without submitting an application.

If the property has gone up in value – you might be able to release some equity depending on the banks policy and your borrowing capacity.

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Jamie

Yep – pretty sure you need a diploma too now

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Jamie

Hiya

The cert IV itself won’t help you land a decent aggregator or good deals with lenders.

Aggregators are generally hungry for business so will take on anyone with the appropriate quals in place. Some will charge a fixed fee – others a commission split.

Lenders generally offer good deals to brokers who generate them a high volume business -…[Read more]

Hi Brockman

Without sounding biased – your best option is going to be to discuss your structure with a good broker. There’s plenty around here.

Cheers

Jamie