Hi GP,
Unfortunately Australian-lending institutions will not except NZ property as security,

You have Two options,
(1) Purchase the NZ properties outright with finance raised from Australian lenders using any available equity you may have,

As you are probably aware, If you decide to implement this method the amount of NZ IP’s you acquire will b…[Read more]

Hi Nell,
There is no need for the Bank to take security over your PPR,
I would suggest you access some of your existing equity from lender A for use as a deposit with lender B,
This will minimize the amount of security each lender has in your portfolio,

I also agree with your accountant regarding non-deductible debt, do you have an offset…[Read more]

Ray,
I would suggest pulling out maximum equity now,

Looking at it from a lenders perspective, If property values were to fall in the future, you may find your curent level of equity has also reduced,

Regards
Steven
Mortgage Broker

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

PLEASE note comments…[Read more]

Hi Helena and Ken,
The FHOG can be used as a deposit, However a lot of lenders will require 3% to 5% in genuine savings,

There are some lenders who will except gifts if you do not have the required funds to complete the deal,

Regards
Steven
Mortgage Broker

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

Luke,
This situation highlights the negative impact of applying for credit with multiple lenders,

This problem can be avoided by enlisting a good Mortgage Broker, who will assess your situation with their lending panel before submitting the application,

Liz seems to be quite knowledgeable, and she is in your State,

Regards
Steven
Mortgage…[Read more]

Hi Luke,
Applications for Credit are held for Five Years.

Bankrupt and defaults are held for Seven Years,
And Directors information is held for 10 years

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]

Hi Luke,
You may have some difficulty removing hits on your CRA file, unless you can prove the information on your file is incorrect,

Unfortunately, information is held on your CRA file for Five years,

Regards
Steven
Mortgage Broker

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

PLEASE note comments…[Read more]

Gatsby,
Sincere thanks for your kind words,
Its all part of the service that one should expect and receive,

Kind 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.…[Read more]

Hi Rouquin
I can help you with NZ finance,
Drop me a line or feel free to call me with the details.

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]

Hi Gatsby,
Im so Sorry to hear about your Dad,
Take care, Talk soon,

Steve.

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.

Originally posted by The Mortgage Adviser:
Does anyone really care about the piece of paper that states one person’s opinion of price on it???

I have had valuations come up short and, instead of the client having to come up with more funds, I picked up the phone and discussed it with the valuer. I mentioned a few comparable sales that I had…[Read more]

Rob,
I stated the comparison rates on the Initial Rate for both lenders, and quoted the step down rate on the Macquarie product,
As I said, The Macquarie Bank Saver Express is a good Low Doc Product,

Regards
Steven
Mortgage Broker

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

PLEASE note comments…[Read more]

The Macquari Bank Saver Express is a good Low Doc Product
7.30% (CP Rate 7.35%) reverts to 6.50% 80% LVR

Suncorps Ready Access Low Doc package at 6.97% (CP Rate 7.08%) 80% LVR is ok with a strong application,
$250K Minimum assets required, and they don’t like doing addbacks,

Regards
Steven
Mortgage B…[Read more]

Congrats to you Kay,
well done,

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.

Here is another link for those who may be interested,
Fish 4 Homes, a property search site in the UK,

http://fish4.co.uk/homes/index.jsp

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]

Hi Glenn,
This is the downside to having all your loans with the one lender, Xcoll,

I would suggest you talk to a Mortgage Broker and see if some of the security can be released,

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…[Read more]

Originally posted by staffreid129310:
What to do when your broker tells you that lenders get very nervous when your property portfolio nears the $1 million. Also tell you that 4 properties in one town is enough and won’t finance anymore there. Is this the same for all? Any ideas on how to get around this?

Staffreid,
A common problem I’m a…[Read more]

Hi fjficm,
I agree with the points made by Aceyducey,
Why not use the funds available in the LOC as a deposit on a 80/20 or 60/40 lend etc,

By implementing this method you could increase the amount of properties in your portfolio,
Regards
Steven
Mortgage Broker

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

Steven,
thanks for explaining, am i right in thinking that this offset would be a handy place to keep the extra cash borrowed until needed for payments on props i put in trust?

lifeX,
Well done, You got it in one.
An offset can hold any spare funds, Wages/rent etc,
And very useful when offsetting non deductible debt, as in a loan over your…[Read more]

Hi mrsimba2
Before you make any decision, You will need to calculate your ability to service a non income producing loan, and the effect this will have on your future investment plans,

Keep in mind the $7000 FHOG and the $250 per week you are currently paying in rent,
Regards
Steven
Mortgage…[Read more]