Hi Vicgirl,
Basically a Low Doc/No Doc Loan is a type of finance that doesn’t require proof of income, this type of lending product can be useful for applicants who do not have the required financials that are normally required for a standard loan application.

Regards
Steven
Mortgage B…[Read more]

I enjoyed it, the mappers were very good, fantastic characters with some interesting info,

It was great to meet & put faces to Richmond and Mini, I also enjoyed catching up & sharing a couple of coldies with Gatsby at the Cricketors Arms after the event,

Cheers
Steven
Mortgage…[Read more]

Hi Freedomfnder,
Low Doc 6.85% 80% LVR with redraw & splits & no ongoing fees.

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…

Hi Phil,
Interest only loan repayments is another option to increase cashflow,

Keep future equity in mind, an investment portfolio containing a portion of high capital growth properties will aide in funding your deposits on future pos cashflow investments,

Regards
Steven
Mortgage…[Read more]

Hi Rose,
You have the 10% deposit but what about the purchase costs, approx. 5% $8250
If you do not have 2 years financials then a Low Doc Loan may be an option,
I need more info to be able to suggest anything further,

Regards
Steven
Mortgage Broker

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

80% LVR is standard with the majority of lenders, 90% LVR in some cases,

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.

Hi Kez,
If your spouse has a owner occupied residence or has already received the grant then I don’t think you will be eligible for the FHOG,

To be eligible for the grant the dwelling must be used as your principle place of residence within 12 Months of the date of settlement,

for FHOG info in Victoria call 132161
or visit w…[Read more]

Salacious,
With only 20K in your LOC for a deposit you will more than likely need to access the existing equity in your portfolio,
With Three different lenders your properties are not cross colaterised, but it may be beneficial to have your current structure/products and rates checked by a good Mortgage Broker, eg, Terry or Simon.

It may be a…[Read more]

Hi Martin,
Certain NZ lending Institutions require you to have a Power of Attorney, One of the reasons for this requirement is to enable your solicitor to sign at settlement on your behalf,

Below is a link to current NZ Interest Rates
http://www.interest.co.nz/mortgages.html

Regards
Steven
Mortgage…[Read more]

Hi Martin,
The Major Australian Banks will not except NZ property as security against finance,
I have access to a few NZ Lending Institutions who will lend to non-NZ residents allowing the proposed NZ property purchase as security,

The appointment of a NZ Power of Attorney is a requirement of some NZ lending Institutions, However not all NZ…[Read more]

Hi Marc,
I have heard the reproduction/survival theory before, but the theory tends to loose credence when applied to same sex couples,

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 Heather,
A 100% offset account is a separate savings account attached to your loan.
Any money you put in the offset account is deducted from the loan balance before interest on the loan is calculated.

Regards
Steven
Mortgage Broker

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

PLEASE note comments…[Read more]

Hi Mumarina,
Basically a good Mortgage Broker has your best interest at heart, not the Banks,

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 Wrap Attack:
$60,000 equity does not sound like enough equity unless the property is worth $100,000 and the new purchase is under $150,000 or so to avoid mortgage insurance.

Wrap attack,
$60.000 in Equity = 20% deposit on a $250.000 property purchase, with a balance of $10.000 towards purchase costs, there is no need for…[Read more]

Hi Falcon,
Set up a split loan facility on your PPR, (split A is for deductible debt, split B is for non-deductible debt)
Attach a 100% offset to the non deductible portion of the split loan, park all funds raised from available equity into the offset account, use the funds in this account for 20% deposits on further lending with multiple…[Read more]

Baycorp Advantage
Phone 0294646000
http://www.mycreditfile.com.au

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.

Hi Kay,
Credit inquiries should be removed from your credit file after a Five year period,
It may be worthwhile contacting Baycorp incase there has been an oversight regarding your file,

Baycorp Advantage
Phone 0294646000
http://www.mycreditfile.com.au

Regards
Steven
Mortgage…[Read more]

Is the issue with the mortgage insurer based on the location of the property?

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.

Hi Jo,
Your friend’s financial situation may not be as bleak as it first appears to be,
Most lending institutions will take rental income into account, including family payment and addbacks on investment,

Based on your figures she has $180.000 available in equity, possibly more at a higher LVR,
I would also suggest a loan structure where the n…[Read more]

The Homloans 100% Finance product is fairly good, unfortunately its only available for the purchase of owner occupied property, not investment property,

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,…[Read more]