Hi Robbo,
The FHOG is $7.000 plus an extra $5.000 from the Victorian State Govt, courtesy of Mr Bracks.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

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

Hi Garry, & Welcome to the forum,
Basically with an LVR greater than 80% you will incur mortgage insurance, However some lenders will allow you to capitalize the LMI into the loan,
You may be entitled to the Federal & Victorian State FHOG.

Regards
Steven
Mortgage…[Read more]

Hi Ona,
Purchasing in a Trust may be beneficial if you intend to acquire an extensive portfolio, however if your long term plan is to accumulate a portfolio of 1 or 2 properties max, then you may want to consider purchasing in your own name,

A good accountant should be able to recommend what is the best option for you,
A well regarded accountant…[Read more]

Hi Brendon,
There are Two loans in my scenario,
The First Loan is an investment loan secured against the current unencumbered PPR, (this is deductible debt)

The second loan with an offset attached is secured against the new PPR; (this is non-deductible debt)
Funds from loan One (investment loan) are placed in the offset attached to loan Two(non…[Read more]

Hi Martin,
Another option would involve drawing maximum equity from the IP, deductible debt (previously your PPR) and park this in an offset account against the new PPR loan, non-deductible debt.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE note…[Read more]

Hi Lotus,
I would suggest you place the cash in an offset account attached to the non deductible debt on your home loan, this will enable you to have access to the cash as you need it and help minimize your PPR debt.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820…[Read more]

Cross colaterisation across a portfolio of 1 or 2 properties may seem to pose no apparent problems to an investor in the early stages of wealth creation,
In a lot of cases as long as the banks continue to approve requests for further funding the investor is content and usually oblivious to what lies ahead.

Usually the problems of cross…[Read more]

Quite a few Lenders offer Interest only periods of up to 10 To 15 Years,

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional,…[Read more]

Hi Narelle,
Try Dale Gatherum-Goss, he is investment savvy,
Phone: (03) 9723 7699
Postal Address: 1 & 1A, 87-89 Colchester Road,
Kilsyth, Victoria, 3137
http://www.gatherumgoss.com/

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE note comments made…[Read more]

Hi Isabelle & welcome to the forum,
I agree with the comments from Jo & Terry,
Lending institutions do not tend to discriminate between single and joint applicants,

Here are some useful tips on how to increase your borrowing capacity,
Consider reducing the maximum credit limit on your credit card, as credit providers will assess repayments on the…[Read more]

Hi Freedomfinder,
GE & PMI current limit is $1.000.000 per security, subject to LVR and loan type.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice.…[Read more]

Originally posted by mknk:
Hi all, my husband and I have recently moved to Melbourne and we are looking to buy a home. We have $550K in cash and we only plan to spend up to $450K on our house, so hopefully have $75-$100K to invest.
*Is this enough to get started? If so, how?

Hi Narelle,
You could use the $100K for the deposit and costs on Two…[Read more]

Hi Dean,
I suggest you use the equity for the deposit and associated costs; the interest on the investment loan is deductible debt.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE note comments made should NOT be taken as specific taxation,…[Read more]

Wilko, As I mentioned before, Do you need a LOC??
If the answer is no, then forget about the Portfolio package,

Consider this, ask your Broker to organise a St George Pro Pack with a split, P&I repayments on PPR Debt with an offset attached, and I.O repayments on the Investment portion, place the equity in the offset account attached to PPR loan…[Read more]

Wilko, I think the Stg pro pack is a very good product, providing it suits your situation.
However, If you intend to use the offset facility, you may not require the LOC,

Regarding your question fixed or variable rates? I’m sorry but as a Mortgage Broker I am not qualified to offer such advise, and be wary of any Mortgage Broker that does…[Read more]

At 6.47% this sounds like the St George Professional Benefits Package, if your total borrowings are over $250K and depending on which State the security is in, you may find you are entitled to the St George discount rate of 6.37%

If you are refinancing debt on your PPR, then you should also consider an offset attached to this portion of the…[Read more]

Are you accessing the equity in all 3 properties?
What Interest rate have you been quoted?
What is your long-term plan, how many investment properties do you plan to acquire?

If you require/need a LOC then you may want to look at the ANZ Breakfree package, the annual fees are slightly higher compared to St George, but they do offer a lower…[Read more]

St george has some very good products,
However, I would require a lot more information in order to determine the appropriate lender/product for your particular situation, do you really need a LOC?

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE…[Read more]

Selling to a Trust could be an option,
I have replied to your e-mail, good luck.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek…[Read more]

Neven,
This is a common problem many investors face at one time or another,
Talk to a couple of Brokers.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIA

PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice.…[Read more]