Forum Replies Created
I would look at exploring all your options with traditional lenders via a Mortgage Broker before contemplating other costly means of finance.
Regards
Steven
Mortgage Broker[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 Karen,
To clarify, your portfolio was initially X-colled, currently you now have adequate equity in the portfolio (80% LVR) to allow the release of one of these properties from the clutches of the ANZ,
Did you intend to include the unencumbered property as security over the next purchase with Westpac? Or, did you intend to access the available equity via the ANZ on the unencumbered property to fund part of the next purchase with Westpac?Regards
Steven
Mortgage Broker[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 kosmicgirl,
You will require a 10% deposit plus closing costs to qualify for 90/10 non genuine savings finance,
95%/97% finance is available with LMI, 3% to 5% in genuine savings is required for these products.Regards
Steven
Mortgage Broker[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 ND,
I can give you the contact details for solicitor funds on VIC property,
I also have access to short term lenders 30 – 90 days, LVR above 80% may pose a problem, as Terry mentioned the rates are not pretty, If you pm/e-mail all the details, State, p/code etc etc, I may be able to help.Regards
Steven
Mortgage Broker[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.
Don’t pay any attention to him Broom, Aussierogue is held in high regard around here.
Regards
Steven
Mortgage Broker[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 Steamtrain,
You may be underestimating your investments,
Estimated repayments on your investment loans should be approx. $1.080 per week,
Rental return per week $1510 less repayments @ $1.080 per week, (excluding associated costs) = $430.00 per week towards ppr loan.Regards
Steven
Mortgage Broker[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.
Population 8000, have you considered listing with out of town agents?
Targeting a broader market of retirees who are looking for a life style change may help.Regards
Steven
Mortgage Broker[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.
Short term finance via solicitors funds may be an option.
Regards
Steven
Mortgage Broker[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 Brahms,
GEMIS or what ever there called this week, also insure in NZ.Regards
Steven
Mortgage Broker[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 Tim,
The repayments on a personal loan may effect your serviceability/borrowing capacity on the investment loan,
Consider borrowing the required funds from your parents etc, in conjunction with a 90/10 non genuine savings type loan.Regards
Steven
Mortgage Broker[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.
ANZ 6.30% 3 Years fixed, investment loan annual interest in advance
Suncorp 6.44% 3 year fixed, Annual interest in advance.
Regards
Steven
Mortgage Broker[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 Beck,
This method will not increase your serviceability; In fact as far as the lending institutions are concerned the repayments on the LOC will be accessed as a liability.
There may also be issues with the ATO if you intend to claim the interest on the LOC.Regards
Steven
Mortgage Broker[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.
Thanks Julia, it will interesting to see how this transpires.
Regards
Steven
Mortgage Broker[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 Paul
I think Richard, AKA Qlds007 may be able to help you with this,
http://www.fhog.com.au/Regards
Steven
Mortgage Broker[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.
You will struggle to find an Australian lending institution who will take NZ property as security for finance on an Australian property purchase.
Regards
Steven
Mortgage Broker[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.
You will find it very difficult to find an Australian credit provider willing to take o.s security over the loan.
Regards
Steven
Mortgage Broker[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,
Basically you would be borrowing 100% of the purchase price on the Australian property using finance from 2 separate lenders,
E.g., Current NZ property Value $240.000 @ 80% = $192.000 less Balance owing $158.000 = available equity $34.000
The $34.000 is now available to use as a 20%, 10%, or 5% deposit for finance with an Australian lender of 80% 90% or 95% on the new purchase, I hope this helps.Regards
Steven
Mortgage Broker[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
Have you considered 80% finance with an Australian lending institution and the remaining 20% via an equity loan with an NZ lender.Regards
Steven
Mortgage Broker[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 Spanky,
I have replied to your PMRegards
Steven
Mortgage Broker[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 Point Greg,
I will ask Derek to move it, as I don’t have moderator access in the legal forum,
cheers.Regards
Steven
Mortgage Broker[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.
