Dave,
PurpleKiss has offered some good advice,
Also keep in mind the lenders LVR may fluctuate subject to the area and valuation of the proposed 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]

Hi HHH,
Quite a few lenders will allow LMI Capitalisation,
Can you tell us who the lender is?

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 Dave,
The difference in repayments will depend on the loan amount, interest rate and the term of the loan,
Below is as an example on a $200.000 loan at 7% over 15 years
Interest only monthly repayments $1.167
Principle & Interest monthly repayments $1.795
Regards
Steven
Mortgage…[Read more]

Hi Darren,
To offer any kind of constructive advice we will need some more information,
Are you currently employed, do you have any savings or a deposit, do you have a clear credit rating, etc?
Feel free to drop me an e-mail or contact me direct as you may not want your personal details disclosed on the forum,
Regards
Steven
Mortgage…[Read more]

Hi Martine,
A refinance at this stage may not be of any great benefit to you; my main concern is the structure of your loans for future 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 specific taxation, financial,…[Read more]

Hi Brendon,
No problems give me a call anytime, and I will be pleased to help you in anyway I can,
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. Please seek…[Read more]

Hi Martine,
From the information you have given, it seems the bank has structured your loan to gain security of all your land over 1 construction loan, Have you signed the loan documents yet?
Regards
Steven
Mortgage Broker

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

PLEASE note comments made…[Read more]

Hi Martine,
Do you have a construction loan in place with this lender? I Need more information to help you further,
You need to talk to a good Mortgage Broker and have your loans structured correctly,
Regards
Steven
Mortgage Broker

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

PLEASE note comments…[Read more]

Hi Karl & Rita,
Based on your figures you could refinance at 80% LVR, this will leave you with $26.000 less costs for a deposit on an IP,
If you require more funds another option may be to release more equity at a higher LVR, but in doing this you will incur mortgage insurance,
Regards
Steven
Mortgage…[Read more]

Originally posted by Geronimo:
Steven

What is wrong with brokers/originators charging a fee if there is value for money in the fee, and further services involved other than just sorting out a loan for the client? Services such as Mortgage reduction Monitoring, ongoing personal service, finance education on valuations, research etc

If the broker…[Read more]

Hi kalebball,
With an interest only loan, you pay only the interest on the mortgage in monthly payments, usually five to fifteen years, After the Interest Only period, you either refinance, pay the balance in a lump sum, or start paying off the principal.
Regards
Steven
Mortgage…[Read more]

I, like a lot of other brokers do NOT charge clients a fee for my service,
The Bank pays a commission to me after settlement,
I show my clients a commission disclosure form that clearly states the amount of commission paid by each lending institution,

The actions of a few bad apples should not be allowed to tarnish the whole…[Read more]

Hi John,
below is a link to the PI news letter which containes some information regarding P&I & I,O loans,
https://www.propertyinvesting.com/newsletter/Newsletter017.html

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 Ret,
I have clients in every state, distance is not a problem with phone fax & email,
However, if you require a mortgage broker in NSW may I sugest you contact Terryw (discover home loans) or Simon (mortgage hunter) both are well versed in investor finance,
Regards
Steven
Mortgage…[Read more]

Hi Gatsby,
I would suggest taking out equity from your current investment properties to fund 20% deposits on future 80/20 lending, By structuring you borrowings in this way you are in fact borrowing 100%, and not necessarily all with the one lender,
As for best interest rates, this will depend on a number of factors and each individuals specific…[Read more]

Hi Gatsby,
I’m not sure why you are paying 8.5% is this a fixed rate?

Current situation: $248.000 @ 8.15% interest only = $1684 per month

Proposal: $248.000 @ 6.37% interest only = $1316 per month
This is a saving of $4416 per annum,

(United Homeloans) also wants to charge me $150 to them!
It’s not a lot but is that usual practice??

No t…[Read more]

At the moment I dont know of a Low Doc lender in OZ for NZ investment,
Try this link to Cairns Lockey in NZ,
http://www.emortgage.co.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 specific taxation, financial, legal or…[Read more]

Hi Albert,
I am Just on my way out the door I will call you Tonight,
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 Bomber,
To pay down your PPR debt at a faster rate you could look at attaching an offset to the loan, but I suspect you may have this in place as you mentioned the monthly swipe of the credit card,

Are you getting a discount off the SVR from your lender?

Another option to increase the level of cash flow, may be to consider investing in…[Read more]

Hi George,
Yes no problem, You pay the 20% deposit and the intended NZ investment purchase is the 80% security required.
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…[Read more]