Hi Rob,
To clarify my comment regarding all loans with One lender, I believe its Ok to have multiple loans with one lender, as in a pro pack etc, but at a certain stage it’s a good idea to spread your lending and keep further options open.

Yes I also thought the HSBC decline was strange in light of their liberal servicing criteria,
Agree the MAV package may be ok, depending on size of the portfolio and future investing plans, this could possibly be coupled with the current westpac loan, but again this depends on the total numbers and is all supposition without further info,

Agree also regarding the rates and choice of lenders, Adelaide possibly if they were fixed, as they did have some good 3 year rates a while back, but Interstar?? Why?
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 Kev,
No need for commercial rates, ANZ will do 4 units on 1 title, and as Rob mentioned St George will also do them and at residential rates,
I am currently doing a 5 on 1 title for a client at residential rates. 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 Markk,
A few assorted Low Doc Variable Rates.

A) Low Doc 60% LVR 6.72%
Low Doc 80% LVR 6.76%
C) Low Doc 80% LVR 6.99%
D) Low Doc 80% LVR 7.06%
E) Low Doc 80% LVR 7.24%

If I publish the name of the lender and the rates I am required to also include the comparison rates, feel free to call or send me an email for the info.

The Exit/DEF fees will be a problem on a short term 90% low doc.
Have you considered raising the LVR on your current STG low doc with another lender? in doing so you may only require an 80% lend or lower on the short term low doc loan you are currently pursuing, 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 Marisa,
I think the St George low doc max LVR with interest only repayments is 70% LVR or 80% LVR with P&I, and the LMI premium is applicable over 60% LVR,
With this in mind coupled with there higher low doc rates you may want to look for an alternative lender with a lower rate and will also absorb the LMI up to 80% LVR, while keeping in mind the break costs you may incur. 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.

Markus,
You can borrow above 80% but mortgage insurance will apply over 80% LVR,
A LOC may not be the best option for you as you have non-deductible debt (PPR loan)
As I mentioned before You may want to consider a split loan with an offset linked to the non deductible debt, the PPR split with P&I repayments & I.Only repayments on the Investment split,
The funds from the investment portion of the split loan can be parked in the offset until required for deposits etc. 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 Jen,
Be very careful, the lending institution prepared to finance the highest amount may not necessarily be the right choice of lender for you,

As Rob mentioned talk to a Mortgage Broker, You may be pleasantly surprised to find that you do qualify for the higher loan amount with more lenders than you realize, including the lenders who have told you otherwise,

But more importantly a good mortgage broker will structure your finance with your immediate and long term goals in mind, I believe this should be the main criteria when selecting a lending institution, 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 Lioness,
I would not suggest using the unencumbered property as security on the new purchase,there is no need,
Instead, you could access your current equity and use this as a deposit on 80/20 finance; this will avoid giving the lender 2 properties as security over One loan, (cross colaterisation)

This structure will allow you to borrow 100% finance on the new purchase without the need for mortgage insurance and cross colaterisation, as your LVR on the new purchase will be 80%

An IP savvy Mortgage Broker could set this structure up for you. 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 Jules,
Are you referring to the CBA Pro Mav package with a $300 annual fee or $495 pa for the Mav Plus package, the .5% discount applies to loan amounts between $250K to $349K

You can get .7% discount elsewhere for borrowings between $250K & $500K in VIC without the high annual fee, 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.

Well done on the Offset Vs LOC article Rob,
I have long been an advocate of a 100% offset over a LOC, I agree there are times where an LOC has its place in certain situations, however in the majority of cases an offset is a much better option for the reasons you have outlined.

I think part of the reason why so many investors head straight for an LOC over an offset is due to a lack of understanding of how an offset works and the benefits it has to offer, 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 Terrabyte,
No one can accurately predict if interest rates will rise or fall, speculation & hindsight do not go hand in hand,
For instance, if a potential rate rise has the ability to cause financial hardship or severely effect your investment holdings then you may want to consider fixed rates or have a portion of your loans fixed.

There is a graph on my web site under interest rate trends, http://www.mobilemortgagemarket.com.au
Click on the variable and the 2 & 5 year fixed buttons to view the average rates from April 04 to May 05
I am not advocating fixed or variable rates, when all is said and done it’s a matter of personal choice/circumstance, most of the time it will depend on your SANF (sleep at night factor)

Regarding equity in your PPR,
Ensure you structure the loan correctly, keep the deductible debt (investment portion) and non-deductible debt (PPR portion) separate, you can achieve this via a split loan. 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.