Hi Alex,
You mentioned Kiwiproperty, I recently received a book written by Antony & Sigrid a.k.a. kiwiproperty from this forum, titled The Guide to New Zealand Property Investing -Australian Edition,

I haven’t yet had a chance to read it, but it was highly recommended to me as a valuable resource for those currently investing or intending to i…[Read more]

Hi Inez,
Basically, a redraw facility allows you to redraw the principle and any extra repayments you deposit into the loan,

Most lenders have products with redraw facilities available, some lenders do charge a fee per redraw and others offer a redraw facility with no fee, certain lenders have a minimum/maximum amount per redraw while others do…[Read more]

Hi Alexander,
I have answered most of these questions in this thread, here is a link to it, Cheers.
https://www.propertyinvesting.com/forum/topic/18005.html

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au

PLEASE note comments made should not be taken as…[Read more]

Hi Andy,
The Break free package has an annual fee of $295.00 if you intend to take advantage of the extra 5 loan products under this package then the annual fee may be warranted,
However if your future plans don’t include borrowing further funds anytime soon then you may want to ask your Broker about available cheaper alternatives that also offe…[Read more]

Hi kendo & welcome to the forum,

The BankWest Lite Home loan being discussed in this thread is fairly good @ 6.65% but unfortunately it’s not a Low Doc product,
BankWest do have a low Doc product (Easy Doc Loan) at 7.24%, but there are other low doc products around with lower rates, cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Mark…[Read more]

Hi Pabbs73 & welcome to the forum,
Some very good points raised by LifeX & Endless Summer.

Also, as you are probably aware the much anticipated Geelong ring road is finally set to become a reality, I feel this should have a major positive impact on the property market in and around the Geelong & Surfcoast region, Cheers.

Regards
Steven
Mortgage…[Read more]

Hi Dimmick,
It seems Westpac are about to cross-collateralise your portfolio in order to avoid mortgage insurance,
Reading between the lines I assume you have available equity and intend to borrow 100% secured across 2 or more properties.

Providing you have the required equity there should be no need to pay mortgage insurance with any lender, and…[Read more]

There is nothing complicated about this, & there is no need to sell,

1. The properties are cross colaterised.
2. Pasandbec require funds from equity to fund deposit on IP2

Solution:
As already mentioned, refinance to a higher LVR, uncross properties, use split loans to keep deductible & non deductible debt separate, Its not rocket science.

If…[Read more]

Hi all,
Questions regarding NZ finance arises on this forum from time to time, I hope the following information helps to clarify and clear up a few inaccuracies.

Security for NZ finance.
Australian credit providers/banks will not take an NZ property/title as security over a loan,
However, if you have equity in Australian based assets you could…[Read more]

Hi Pasandbec
The problem seems to be that your PPR came in under value due to the works being carried out on the reno,
I would assume if the reno has been completed then the value should have risen and hopefully provide enough equity in the PPR and not cross securitised, i.e. separate loans for both properties,
These days most lenders products are…[Read more]

Hi Pasandbec
No problem feel free to call me anytime, good luck with it all, cheers.

Regards
Steven Crane
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au

PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

Hi JMKromar & welcome to the forum,
Try Gatherum-Goss & Assoc

http://www.gatherumgoss.com
Phone: (03) 9723 7699
Fax: (03) 9723 7202
Postal Address: 1 & 1A, 87-89 Colchester Road,
Kilsyth, Victoria, 3137

Regards
Steven Crane
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483…[Read more]

You have enough equity in the IP to fund the deposit on the 2nd IP, and as Benny suggested LMI will apply.

Seems your IP and PPR are cross securitised, if this is the case I would restructure/rectify this when you pull out the equity,

BTW if you intend to use part of the equity from the IP for personal use i.e. non-deductible debt, then you…[Read more]

Hi Duncan,
Here are a couple of web sites for private sellers,

http://www.noagentproperty.com.au/index.asp

http://www.australiarealty.com/

I hope this helps Cheers.

Regards
Steven Crane
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au

PLEASE note comments made should…[Read more]

Hi Plastus,
Your current lender may unwittingly be doing you a favor, especially if all your loans are with the one lender, spreading your level of debt amongst multiple lenders is fine.

Now would be a good time to have the incoming mortgage broker assess current loans & future goals and structure future borrowing accordingly, rather than…[Read more]

Hi Ty,
Yes you are correct,
basically you are using the equity in the 1st IP to fund the 20% deposit on future properties,
All loans would be separate, so if you decided to make extra repayments into the 1st IP loan that will be fine, cheers.

Regards
Steven Crane
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483…[Read more]

Dev & Terry,
Congratulations on the revaluation & positive outcome, good news. Cheers.

Regards
Steven Crane
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au

PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

Hi KP,
I think Dev is based in VIC, Cheers.

Regards
Steven Crane
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au

PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

Approx 60% – 70% lvr for commercial, depending on the type of security and a host of other factors, cheers.

Regards
Steven Crane
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au

PLEASE note comments made should not be taken as specific taxation, financial, legal or…[Read more]

Hi Ty,
You mentioned you don’t have any debt on your share of the property,
Unfortunately from a Credit Provider/Banks perspective (with both names on title) you are still accountable for your brothers remaining debt on the property and hence this will be taken into account when the Credit Provider/Banks asses your capacity to service furt…[Read more]