most lenders work on a 80% Loan to Value ratio, or LVR. If the payout amount is less then 80% of the value of the property, then no LMI is applicable, however this is only applicable to Full Doc Loans.

Depends on if you want to reside in the house or not, remember that FHOG are only applicable to Owner Occupied purchases not investments & must…[Read more]

I know of only one lender that will limit the interest rate that is through keystart, think its called the green scheme or something, however, this is only through regulated (owner occupied)loan purchases.

even though this is a IP query, thought it would be good to keep in the back of your mind.

Definitly fixing the rate is what most investors…[Read more]

ugez009,

Guidelines for FHOG is that you occupy the property for 12months however technically 6months is satisfactory. I have been told that the way they check to make sure your residing at the address is through the power bill.

I will not make comment about how to get around the minimum term as you can be fined and incur a jail sentence if you…[Read more]

Transfering the Title deed from your fathers name to your name wouldnt be possible as the debt will be securied against a porperty that isnt his. Therefore, if you want to change the title you must change the finance. If your dad is happy to simply pay him out then you just simply borrow the payout amount of his current home loan. Then organise…[Read more]

Can we just change the title and carry on the loan in me or my brothers name?

You can change the title from your Father’s name to your name this is done at settlement, however it is up to your dad what he wants to do, if he wants you to just payout his mortgage or wants you to pay him out in full….Stamp Duty is applicable on the valuation…[Read more]

The truth is in the detail and your reply reconfirmed that mortgage hunter is correct:

Neither the applicant nor their spouse (or de facto) must have owned and occupied a home after 1 July 2000.
Neither the applicant nor their spouse (or de facto) must have claimed this grant previously

Which means you can own 1000 investment properties and…[Read more]

Danield,

Would it be more feasible just to add your name onto the home loans existing at the moment. its just a Internal Re-finance where we payout her loan then make a new loan for the same amount but just in both names. This way you dont have to come up with $1,050,000 to pay her out and be on the title. You can add your name to both those home…[Read more]

No worries, enjoy your trip and we will talk turkey when you arrive in cold/rainy Australia.

Joshua McEwen
Finance Broker – WA

http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

I was abit concerned about the stamp duty payment and investigated abit more, and i found that in WA you are exempt from stamp duty (transfer of land) if you are purchasing a property from your spouse. If your in a de facto relationship you have to be with her for more then 2 years. However, you must be both on the title, you cant go from your…[Read more]

First of all. Congrats with the new baby!!! Hope everything turns out well for you all.

Now lets get down to business.

hmmm… Is there any reason why you guys can not consider going jointly in the application for your new home or even for all of them?

Is she receiving any Child Care allowance from Centrelink?

Please be aware that you might…[Read more]

Hmm…seems right. Once the lender offers to repay the debt at a lower amount then the lender can put it on his credit report, as it shows to other lenders that he was not able to keep up with the debt and they had to negoitate a lower repayment then what he signed on his loan contract.

(If it was me) Its all about budgeting. i would write down…[Read more]

Hi Guys,

I own a 2002 VY Holden Calais. Gets me places and will not sell her for any amount of money.

If i had alot of money i wouldnt spend it on a posh/luxury car personally. People dont need to act rich and certainly purchasing a 1/3 Million dollar car isnt my cup of tea anyway. Would like to use my money wisely and invest to achieve my…[Read more]

NoEnd,

Hope everything goes well with the first property. Here are a few lenders to check out Carrington National, Interrstar. They do NoDoc 80% Regulated.

Please remember that you have to cover your cost for purchasing the house and plus the lenders fees. You may have 20% to deposit on the house, however there are lenders cost and purchasing…[Read more]

Elka,

Sorry i am not sure what he is on about. He should be using clear and simple termology to you as the customer. Are you able to PM or reply your home loans and how it is structured so that i can provide some tips to help with your future needs.

Basically your home is either an investment(unregulated) or an owner occupied(regulated)…[Read more]

Well the interest rate that you have is a great deal. You locked them in at a good time. At the moment, ANZ, CBA and Westpac have recently increased their fixed rates, forecast that more lenders are going to follow the move.

If you wish to break those terms then you might be scarificing some cashflow as you will probably be paying more in…[Read more]

I’ll take a stab at this one.

Consumer Mortgage: would probably be defined as your normal personal loan. Your standard purchases of cars/caravans/boats etc. Where the Car/caravan/boats is taken as a Good Mortgage over the loan.

Im not sure about a Standard Mortgage, might mean Consumer Mortgage but in a different term….

Anyone else like to…[Read more]

Stu,

I definitly agree with the article.

Cross-securitisation can be good and bad. You have to understand what the investor wants, to get a picture of the events that might lead up in the future. Then turning the scenario onto yourself saying “what would i do in this situation”. Many people can benefit and many people will not, just depends on…[Read more]

Grant7,

The following finance have had NO Doc’s 80 for some time. Carrington National & Interstar. Check them out

http://www.carringtonnational.com.au/pics/forms/forms%20may06/NO%20Doc%2080%25.pdf

Interstar only use brokers for their business. Ask your broker about the fees,interest rates and requirements for their products.

Best of all they…[Read more]

Winzer,

Check out carrington national finance. They do a Low Doc 95%. Ask your broker about how they might help you.

Tell us how you go.

Joshua McEwen
Finance Consultant – WA

Mob:0430 452 497
http://www.prestigeloans.com.au

Brokers Lic 1297
Licensee Brett Christie

Uncivilized

Ill take a stab at this one for you.

((((Does ANZ, include child support when calculating amount that can be borrowed ? If not does any other lenders include child support ?))))

Unfortunately. Child Support isnt accepted by ANZ. Recently RBA dictated that lenders can not use Child support for servicability. However, i believe CBA or…[Read more]