Hi Ricksters,
PPR is short for Principle Place of Residence.

Regarding Interest Only repayments, lower repayments can also help maximize serviceability on further lending.

Regards
Steven
Mortgage Broker

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

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

Originally posted by lemueltipene:

If NZ does anyone know how I can organise finance in NZ as I will continue to reside in QLD.

[smiling]

I organise finance for NZ.

Regards
Steven
Mortgage Broker

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

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

Congratulations Vicgirl,
now you will be privy to some hot bargains,
like a child in a candy shop.[biggrin]

Regards
Steven
Mortgage Broker

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

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

Hi janp,
Managed apartments can be tricky, have you tried HSBC? Phone 1300308880
Good luck,

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
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]

Snap,[biggrin]

Markymark, well done on doing your due diligence regarding the FHOG, Cheers.

Regards
Steven
Mortgage Broker

info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au
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]

Originally posted by Motivstorm:
you can’t buy IP and then PPOR and claim FHOG. It’s only for your first ever HOME, IP or not.

So you can’t buy heaps of IP, don’t stay in them and then buy a PPOR and stay and claim, u wont get it as you have owned numerous IPs before.

The above is incorrect,

If you have not purchased a property before the 1St…[Read more]

Hi Glenn,
Providing you have not purchased a property before the 1St July 2000, you will be eligible to purchase an investment property, and still apply for the FHOG when you purchase your owner occupied property.

Regards
Steven
Mortgage Broker

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

PLEASE…[Read more]

Hi Jerome, and welcome to the forum,
I would strongly suggest that you talk with an accountant, who fully understands the inner workings regarding company and trust structures,

Try Dale at Gatherum Goss & Associates in Melbourne,
http://www.gatherumgoss.com

Regards
Steven
Mortgage…[Read more]

Hi Mhk
11% interest is very steep, depending on your circumstance I would suggest you could refinance to a lower rate, and access the current equity for a deposit on an IP.

Regards
Steven
Mortgage Broker

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

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

Hi Anita,
LMI = Lenders Mortgage Insurance
LVR = Loan To Value Ratio

Regards
Steven
Mortgage Broker

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

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

I wouldn’t be at all surprised if a commercial network signed her up, apparently it’s one of the highest rating shows on CH-31,

Regards
Steven
Mortgage Broker

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

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

Agree with Aceyducey,
And if you want to talk to a Trust savvy Accountant, I suggest you contact Dale G.
http://www.gatherumgoss.com

Regards
Steven
Mortgage Broker

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

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

Hi James
If you are borrowing in a company name that does not have Two years trading figures, then the directors of the company will be required to show that they can service the loan,
You will still be eligible for a discount rate,

Regards
Steven
Mortgage Broker

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

Terry,
ANZ policy is max 95%,
However you are correct, LMI will consider a higher LVR, but approval for this is discretionary.

Regards
Steven
Mortgage Broker

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

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

Stamp duty is to be abolished in NSW for first homebuyers purchasing under $500.000

Mortgage stamp duty has been abolished in Victoria,

Regards
Steven
Mortgage Broker

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

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

Cross colateralisation can be a nightmare for investors, unfortunately in a lot of cases with the right structure it could have been avoided,

Lenders by nature tend to grab as much security over a loan as possible, in some instances it may be warranted,
If your property portfolio is sitting at the high end of the loan to value ratio, and for what…[Read more]

Dan,
Basically capitalisation of mortgage insurance allows you to add the LMI premium to the loan amount,
E.g., Required loan amount $300.000
Mortgage insurance for this loan, lets say $5.000
New capitalised loan amount = $305.000

Keep in mind ANZ will allow LMI to be capatalised providing the total loan amount does not exceed 95% LVR, also…[Read more]

Hi GP,
Below is a link to an article containing information on how to calculate repayments,
I personally use the repayment calculator on my laptop; it’s so much faster,
http://www.ext.colostate.edu/pubs/farmmgt/03758.pdf
Hope this helps,
Regards
Steven
Mortgage Brok…[Read more]

Hi Ashy,
In most cases the rate for I.O or P&I are the same,
There are many calculators available on the net that will allow you to calculate loan repayments,

Below is a cut and paste of the annual table from the calculator on my web site displaying the effect of repayments of $593.69 per month on a P&I loan of $84.000 over 25 years at 7%

Year…[Read more]

Hi Ashy, and welcome to the forum,

Steve’s calculations are based on P&I repayments over 25 years,

You’re understanding of P&I and interest only repayments are largely correct,
An interest only loan is usually for a specified period, e.g., 10- 15 years, at the end of the interest only period the loan reverts to P&I or, a new I.O loan is c…[Read more]