Hi Andre,
A foreign investor will require permission from the FIRB in order to purchase property in Australia,
this link below to the FIRB web site may help, Cheers.
http://www.firb.gov.au/content/real_estate.asp

Regards
Steven
Mortgage Broker

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

Originally posted by dj71:

Steven, The option of split loan and 100% offset linked to new PPOR loan is something I don’t fully understand. Is the new PPOR loan a portion of the split loan or is it an entirely new loan. Either way does that mean there will be a portion that is for PPOR thus unclaimable.[confused2]

Dave

Hi Dave,
The new PPR…[Read more]

Hi Dave & welcome to the forum,
Have you considered setting up a split loan on the Perth IP,
One portion of the split will be for investment the other portion of the split would be your deposit and closing costs on a separate loan for the purchase of the new PPR,

You could also attach an 100% offset linked to the new PPR loan and place the funds…[Read more]

Hi Cojah,
With a 10% deposit you may qualify for a 90% non-genuine savings loan,

You mentioned you have a 5% deposit plus stamp duty and that you are entitled to the FHOG,
This may be enough to cover your 10% deposit and closing costs, stamp duty etc, on a 90/10 non-genuine loan, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph:…[Read more]

Hi Rob,
Agreed, it was a good report, good to see some factual figures,

Hi Don & Liz
That agent story sounds very familiar, I have an aussie client currently selling off his entire NZ Portfolio,
He bought very well and will realize some capital gain, but due to one reason or another the returns were below his initial expectations, as always due…[Read more]

Hi Rob,
Keeping in mind the point of difference can determine success and failure, how about a vegetarian Internet café, or a combined laundry mat & Internet café, Surf & Clean! Cheers.

Regards
Steven
Mortgage Broker

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

PLEASE note com…[Read more]

Hi Nigel,
Any of the Mortgage Brokers who regularly contribute to this forum should be able to help you,
As Rob mentioned, with email phone post etc location isn’t a problem, Cheers.

Regards
Steven
Mortgage Broker

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

PLEASE note comm…[Read more]

Hi Prady,

The additional 6% is to cover the purchase costs, stamp duty and lenders mortgage insurance.

LMI capitalized to 97%
This is where you add the LMI (Lenders Mortgage Insurance) to the loan,
Some lenders will allow you to increase the loan amount from 95% to 97% LVR to include the cost of lenders mortgage insurance.

LVR = Loan to Value…[Read more]

Hi Prady & welcome to the forum,

Without any savings/deposit & assuming you are entitled to the $12.000 FHOG, you will require 106% Finance,

E.g., based on a $300.000 purchase in VIC including closing costs stamp duty etc but excluding legal fees.

95% finance with LMI capitalized to 97% LVR
Estimated funds required: $30.000 less $12K grant =…[Read more]

Hi Nigel,
Be wary how you structure the refinance, a lot of lenders will xcoll your portfolio if you let them, when the time comes talk to a Mortgage Broker.

The lender prepared to lend the highest amount may not necessarily be the best option,
Subject to your future plans a professional package may be the better option,…[Read more]

Hi Amused,
At 80% LVR you have $86.000 in equity with the combined properties mortgaged with the ANZ, if the $86K is sufficient then I would look at refinancing these loans first, and look at refinancing the CBA loan after construction is completed.

BTW, at the moment it seems all your properties are cross-collateralized, I would suggest keeping…[Read more]

There is no need to purchase the NZ properties outright; you can get Low Doc finance in NZ, cheers.

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 specific taxation, financial, legal or investment advice.

Hi Freedom,
At 80% LVR your available equity is $56.000

E.g., Value: $260.000 @ 80% LVR = $208.000
Minus the current loan balance of $152.000 = $56.000 in available equity,

If you need to access more equity a higher LVR may be an option, but mortgage insurance will apply over 80% LVR.
I hope this helps, Cheers.

Regards
Steven
Mortgage…[Read more]

Hi Andy & welcome to the forum,
Unfortunately its very difficult to offer any help without further information,
loan amount, purchase price, location, LVR etc etc, or feel free to contact me if you prefer not to disclose this information on the forum, Cheers.

Regards
Steven
Mortgage Broker

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

Snap Rob, great minds think alike.Cheers.

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 specific taxation, financial, legal or investment advice.

I’m not 100% certain, but what if you purchased the new property in a Trust and then rent the property from the Trust,
If this scenario were possible then the equity from the IP and the remaining portion of the loan on the new purchase would be deductible debt,

One of the problems with this scenario may include, The IP may have to be tran…[Read more]

I’m not an accountant but I don’t think you could claim the interest on the 50K LOC, as you would be claiming the interest on borrowed funds for the purpose of paying interest on borrowed funds, I would strongly urge you to get professional advice before you proceed, cheers.

Regards
Steven
Mortgage Broker

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

Well done Rob, the site looks very good,

BTW, for those unaware, the VIC $5000 grant was due to expire in June 05 but I beleive it has been extended to December 05, Cheers.

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…[Read more]

Hi Terry,
I think asdf wants to use the equity in the IP, if that’s the case then a split loan would do the job, Cheers.

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 specific taxation, financial, lega…[Read more]

Hi Glenn & Welcome to the forum,
If you intend to increase the equity in your PPR by way of reducing the loan balance, then I would suggest you look at the benefits of a 100% offset account linked to your loan,

Regarding the honeymoon rate,
I’m not to fond of these as the revert rate after the expiry of the honeymoon period is usually at a much…[Read more]