Hi Geoff and a warm welcome to the forum,
It’s great to see you contributing to the forum, your experience and comments on property investing will be much appreciated & valued by many I’m sure, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@…[Read more]

Hi Mike,
Agree with Derek, using equity to acquire or expand an investment portfolio is fine,
If the equity is derived from your PPR ensure the increased loan/refinance is structured as an investment loan, this will ensure the deductibility on the investment is not contaminated by the non-deductible debt attached to the PPR.

If the equity is…[Read more]

Hi Icerip,
The main reason is because Australian lending institutions will not except NZ property as security over finance, where as a NZ lending institution will.

However, providing you have the required amount of equity in Australian property you could finance with an Australian Bank and use the funds to purchase NZ investments…[Read more]

Hi Collie,
If you are releasing equity from an owner occupied property (PPR) for the sole purpose of investment, then I would suggest you keep the new loan separate from the non deductible debt, i.e. a split loan. Cheers.

Regards
Steven
Mortgage Broker

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

Hi Dan,
The maximum term of a loan is usually 25 or 30 years,
I’m not sure why you would want a longer term, but if your question relates to lowering your loan repayments via a longer loan term period, then you may want to look at finance with interest only repayments,
A lot of the lending institutions offering interest only products will allo…[Read more]

Hi Sophie, & welcome to the forum,
Its difficult to offer any specific suggestions without being privy to your future investment goals and current circumstances,
However based on the information you have provided you seem to be in an excellent position to leverage off your current investments.

You currently have $76.000 in available equity @ 80%…[Read more]

Bom & Louisa,
You can apply/arrange for NZ finance via an Australian based mortgage broker,
It’s also a good idea to have conditional approval for finance in place.

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 t…[Read more]

Hi Sarah, and welcome to the forum.
The FHOG in Victoria is currently $12.000 in total,
$7.000 courtesy of the Fed Govt. and a further $5.000 from the VIC Govt.

However the $5.000 Victorian grant will finish in June this year, You may want to take this into consideration regarding your future plans, Cheers.

Regards
Steven
Mortgage Broker

Mobile…[Read more]

Hi Wilko,
I assume you are looking to refinance your PPR and extract the equity for future investment,
if so, you may want to look into the benefits of a split loan with a 100% offset linked to the non deductible portion of the split. Cheers.

Regards
Steven
Mortgage Broker

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

Hi Funk Me,
Most lenders will require a Third party guarantee, although certain lenders will assess it outside of their normal lending criteria,

Is the property/title under your individual names or a Company or Trust? Cheers.

Regards
Steven
Mortgage Broker

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

Hi Mitsinka,
Take a look at this multi loan calculator on the ASIC web site.
http://www.fido.gov.au/fido/fido.nsf/byheadline/Multi-loan+calculator?openDocument

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 Mitsinka,
I agree with jacob, If you are struggling to meet your current commitments I would strongly suggest you consolidate your current debts before you embark on any further lending/debt. Cheers.

Regards
Steven
Mortgage Broker

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

Hi Woodsman,
The banks will view his/her share as an asset, however, it will be very difficult to include the property as security on future sole lending, as the property has Three other names on the Title, Cheers.

Regards
Steven
Mortgage Broker

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

Todd,
Based on the information you have provided, Your loan with St George is not a 100% loan in the true sense of the word,
St George has used the equity in your 1st property to secure finance on the 2nd purchase. In other words they have cross colaterised your portfolio, (2 properties taken as security over the 1 loan)
It would have been more…[Read more]

Originally posted by FFComm:

In some ways I’m surprised that there isn’t a 100% loan with a higher interest rate that is more avalible (i.e. a 100% loan offered by the banks).

FFComm

FFCom,
There are a few lending institutions who have 100% finance products.

Regards
Steven
Mortgage Broker

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

Originally posted by dragovic:
Steve,

If I re arrange the situation. How much money do I need for a 100% finace on $ 200,000 property?

Alternatively how much finance can I get if the property is to be stand alone in other words not dependenat on other property equity if the rate were in line with current lending rates? ie 6.5 -…[Read more]

Hi Felicity,
Unfortunately there is not a 100% low/no doc product available at the moment.
BTW, No savings history is required on the 106% product, 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…[Read more]

Establishment Loan Interest rates are approx. 8.99% on 106% LVR, LMI is around 2.57% and approx. $1800 for establishment fees. Not for the faint hearted. 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…[Read more]

The max LVR for non NZ-residents is 90% subject to LMI policy,
However as a rule and in the majority of cases 80% LVR is the norm,
On a purchase of $100.000 @ 80% LVR you could borrow $80.000 without to much trouble. Cheers.

Regards
Steven
Mortgage Broker

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

$5K & 100% finance would not be enough to cover your closing costs, Stamp Duty, LMI etc on a $200K purchase.

However certain lenders will lend up to 106%, but be warned the rates are high.
With 106% finance and your $5k you may just have enough to cover the LMI & stamp duty etc on a $200K purchase.
E.g., finance based on a $200.000 purchase in…[Read more]