any problems accessing the equity in your current property, one thats at 75%?

Is this a Full Document Loan or a Low Document?

Regards

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

Westpac couldnt do the loan as one of his property is in a country region as stated in the post…cutting it close with time aswell. When LMI is applied, lenders get very strict on where to lend and where the security is situated.

Regards

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

It doesnt matter if you have over million dollars with one lender, it all comes down to how much you earn and the value of the properties used for security. It is a pain, even if its off by 1% on the LVR, the loan will get declined, and sometimes when purchasing a house, the valuation comes in lower then the purchase price. What we do? We get over…[Read more]

This should be in the Finance Discussion forum, lucky i saw this .

um quick run through of the questions.

A)No one can talk you into fixing or not to fix. Its up to what you feel is right, a broker can only give you the definition between the two, but you gotta make the decision.

When your not an investor

C)Broker, not because i am a broker,…[Read more]

I usually go through Carrington National for my 105 deals. They both encumber Investments and Owner occupiers. However, they are strict on where they lend, in other words, postcode restricted. Ask your broker to research this option for you.

*EDIT* sorry thought you talking about residential properties. please disregard.

Regards

Joshua…[Read more]

Thats why we are here. Contact us at anytime.

Regards

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

Of course not. Lenders are categorise under two lending categories. Conforming and Non-Conforming.

Conforming are the big banks, such as CBA, WBC, ANZ, St Geogre, Macquarie etc etc

Non-Conforming are lenders that look for applications that the Conforming lenders wont touch. These are Bluestone, Pepper Home Loans etc.

When it comes to bad…[Read more]

hit the nail on the head!

Anyway is possible, its up to you to choose the path you want to go down.

MPI = Mortgage Protection Insurance is different to

LMI = Lenders Mortgage Insurance

MPI is protecting your repayments if you fall ill or lose your job or become disabled. This is an insurance that you take out for piece of mind so that any time…[Read more]

**WARNING** This is a long post and i apologise, i hope this answer some questions and it isnt too confusing to understand the jest of what im saying. **WARNING***

Yes the repayments will be higher as the loan amount has increased. Ring your lender to confirm the minimum repayment amount every month.

I think what terryw means is doing an…[Read more]

two words

Cross Collateralisation – This can be good and bad, all depends on your situation and what you want to achieve.

Terryw example doesnt include cross collaterisation, however it is the most perfered method when you want to buy multiple houses, as all loans are securitised by one property rather then many.

Regards

Joshua McEwen
Finance…[Read more]

i havent seen the word Power Loan used in so many posts at once…If you sign up on this forum your either wanting help or like to give it. I am here to help people achieve their dreams, buying a house, helping them invest, what ever they need. i wouldnt be on here for any other reasons, i like to put myself in the client’s shoes and to think…[Read more]

Apologises, was only giving respectable No Doc Lenders [exhappy].

I dont go to La Trobe personally, only consider them for Commerical Lending.

Cheers

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

No one is here to bag anyone. All the people here are friendly and only wish to get to know you more. By telling us where you are from, could raise questions that only a La Trobe employee might know.

Back to the questions.

very hard to find a low doc lender that wil lend with only a short term employment, Westpac does not check ABNs however you…[Read more]

Watch out for Penalty costs for canceling the loan early…usually a percentage of the loan amount…. the biggest cost is usually within the first 12months…

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

Further Update:

Bringing lodgments up to date
Our work to ensure people are meeting their lodgment obligations and bringing their outstanding returns up to date will continue.

For example, we are still working to ensure people who apply for low documentation (‘low doc’) loans are meeting their tax obligations. We have also examined a number…[Read more]

With No-Doc Products, a statement of position isnt required or in other words, no income, asset, liabilities needs to be declared, they sign a declaration stating the fact that it wont bring upon financial hardship if they go for a No-doc Loan. However, no doc loans needs a fair bit of a deposit..normally 30%.

Joshua McEwen
Finance Broker -…[Read more]

If you are purchasing the property as a investment property then you are not eligible for the FHOG, this doesnt mean your not able to get the FHOG further down the track, its just that intially you wont be able to apply as you need to owned & occupied the property.

Is there anything in particular that you would like to know, finance wise as i…[Read more]

Yep – For Future Personal Investment.

Basically you cant grab your equity in a Home loan for business purposes, its against the guidelines set out by APRA / RBA.

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

Definitly. No docs will become ever more demanding pressuring lenders to become abit flexible.

I have printed off a couple of copies on hand to give to clients who are thinking of fraudulanting figures, i never recommend it or just go no doc!

I always thought tne ATO would caught on soon.

Joshua McEwen
Finance Broker -…[Read more]

As Terry said, she would have to go either guarantor or be apart of the finance application itself.

Be careful of the wording of your purpose though. ANZ doesnt like the word business and contribution in one sentence.

See how you go and keep us informed with your progress.

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers…[Read more]