Hi Brizza,
80% LVR based on end value is available for owner builders, cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

Hi leo,
The following may help, keep in mind the amount of equity you access will depend on the LVR, 95% 90% 80% etc.

Current property Value $200K
Current balance $135K

Equity available at 80% LVR = $160K less current balance of $135K = $25K available as a deposit on new IP.
Loan 1 with Lender XYZ, PPR used as security for this loan.
Split A $135K non deductible debt (PPR loan)
Split B $25K deductible debt (investment loan)

Loan 2 With ABC lender, IP used as security for this loan.
Purchase $200K
Loan Amount $175K (the remaining $25K is from loan 1 split

So now the Two loans would be:
Loan 1 $160K
Loan 2 $175K

I hope this helps, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

95% low doc 8.99% this rate reduces after 3 years.
P&I with 5 years interest only, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

Hi Andy,
I would suggest you discuss this further with Simon as he is aware of your circumstances/details, he is also a very good Mortgage Broker, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

Keep in mind the LMI or in this case the Mortgage Risk Fee at 106% LVR is 2.5625% with an extra .76865% due if the loan is discharged in the first 5 years, this does not include the DEFs of 2.75% 2.25% 1.75% in year 1 to 3

The 106% is designed/suited with the FHOG covering the MRF and balance of stamp duty charges etc, I would question the use of this product without access to the FHOG. If you do have access to funds to cover the shortfall then a cheaper 100% product or 90/10-non genuine product would probably be a cheaper option anyway. Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

Hi Jim & welcome to the forum,
There are 100% loans available at a much lower rate, if you have genuine savings you may qualify for a 100% lend at 6.79%

An alternative to a 100% lend may be a 90/10 non-genuine savings product, there are many options/products available, however the right product for you will depend on your current circumstance/situation, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

If you intend to convert the PPR to an IP at a later stage then interest only with an offset will preserve the original debt.

BTW, you can have interest only repayments and an offset under a pro pack, cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

Hi Mighty Mouse & welcome to the forum,

I would suggest the following structure.
Have a split loan secured against your PPR with a 100% offset account linked to the non-deductible split.

E.g.,
Loan 1.
Split 1. Current non-deductible debt: $272.000 P&I repayments with a linked 100% offset account.
Split 2. Deductible debt: $48.000 interest only repayments.

The funds in split 2 can be used as a deposit on a separate loan for the new IP purchase,
This structure will avoid cross colaterisation and keep deductible and non-deductible debt separate, cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

Hi kendo,
A 90% low doc based on value and not contract price will be very hard to get,
However another option to consider may be a 95% low doc based on contract price,
I have access to a very good 95%LVR low doc product at 8.99%
the interest rate reduces after 3 years and has free redraw and no fees, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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

Hi James
I would suggest you use the services of a good independent Mortgage Broker, make sure you divulge your current plans to sell in a short space of time, this will enable him or her to source the correct finance with minimal or zero break costs, cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.au

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