Forum Replies Created
Hi Martine,
The break costs will vary depending on the term of the fixed period and the fixed rate,
The only way to get an exact figure is to call your credit provider and ask for a payout figure, keep in mind this figure will vary from one day to the next. I hope this helps.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi KellyJo
If you don’t have the required 2 years figures, why don’t you investigate the possibilities of low documentation finance?Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi kerry,
Regarding finance structure, It’s hard to be specific without being privy to your personal details and future goals,
I would suggest you contact a Mortgage Broker, there is no shortage of them on this forum,cheers.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Originally posted by brahms:lumwood,
mate, ’04 was the year when rates were meant to rise to blah blah blah blah
12 months since the last move – prior to the november ’03 move I think the previous interest rate move was a further 18 months prior.
so 3 moves in 30 months. a total of 0.75%
WOW
you have more chance of having a baby in this time frame – and trust me, that has a bigger impact.
cheers
brahms
mortgage broker
[email protected]
brisbaneGreat post Brendan, concise, thought provoking and some humor thrown in for good measure,
I know its only January, but this is my nomination for post of the year, Cheers.
Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Louis,
One option would be to arrange finance with One lender in both names, e.g. J Smith Trust and Fred Bloggs
Names on title would read the same, e.g. J Smith Trust and Fred Bloggs.
Purchaser names on the contract of sale could read e.g. J Smith Trust and or nominee,
or J Smith Trust & Fred Bloggs.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Ajmish
Have you considered a split loan coupled with an offset? This structure can often be more beneficial than a LOC
Contact a mortgage broker and have him or her explain the various options based on your current situation and future goals,cheers.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Good luck Ian, please let us know how you get on,
Cheers.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Ian,
This should not be an issue, Providing you can service the loan and you have the deposit and funds to complete the deal on finance at 95% LVR.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Nico,
You should have no trouble obtaining finance,
St George will finance non-residents up to 80% LVR, Normal fees and interest rates apply.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Alf, you don’t need an LOC
Why not consider this…
Set up a split loan
$140.000 PPR split A (non-deductible debt)
Investment split B $100.000 (deductible debt)
Place the $100K into a 100% offset account attached to your PPR split; use these funds as required for deposits on investment etc.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Kate,
Yack has offered some good advice,Regarding speaking to a financial planner, please be aware that some of these may try to steer you into a completely different investing direction, If you decide to consult with one make sure they offer unbiased advice, Good luck.
Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Martine,
Try Dale G at Gatherum-Goss & Assoc in Kilsyth,
http://www.gatherumgoss.com/Phone: (03) 9723 7699
Fax: (03) 9723 7202
Postal Address: 1 & 1A, 87-89 Colchester Road,
Kilsyth, Victoria, 3137Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Alf,
If you intend to convert your PPR into an IP at a later stage, then I would suggest you look closely at the benefits of a 100% offset attached to your PPR portion of the loan.
In many situations an offset can offer greater benefits over a LOC,Hi Byronent,
You are correct, there is no need for a LOC regarding this scenario,
Cheers.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Kabe & welcome to the forum,
I have access to this type of finance, however the rates and establishment fees etc for this type of finance is high, around 8.99% on 106% LVR,
I suggest you contact a mortgage broker to explore the possibility of cheaper alternatives, good luck.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Wendy & welcome to the forum,
It is a good idea to have your long term goals in mind when structuring finance, as Derek suggested your exit strategy should also be considered,
A good structure will not restrict you to the one particular lender, but allow you the freedom to finance each investment/purchase with the lender of your choice and avoid cross collaterisation over your portfolio,Insuring personal and investment debt is kept separate is also paramount, this can be achieved via a split loan, I would also suggest you consider the benefits of attaching a 100% offset to this portion of the non deductible split loan, Good luck.
Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Low Doc Finance is available to ABN holders and in some cases PAYG applicants, competitive rates are currently being offered on this type of lending,
Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Some States have abolished mortgage stamp duty, Victoria July 2004 for instance, while others have concessions in place, 1st Home buyers/owner occupied etc.
Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi HR,
A few months ago you were having problems with your lending institution refusing to release equity from your x-colled portfolio, as posted here,
https://www.propertyinvesting.com/forum/topic/10129.html
I think your case outlined in the above thread is a prime example of the pitfalls of cross colaterisation.Regards Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi KP1 & welcome to the forum,
As Sonja mentioned, your best option would be to contact a Mortgage Broker and have him or her crunch the numbers to ascertain your maximum borrowing capacity, Good Luck.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Hi Collie,
If you don’t have the required funds to complete the renovations then finance based on the value of the completed project may be the best option in this case, good luck.Regards
Steven
Mortgage Broker
Mobile Mortgage Market[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
