Forum Replies Created
Low Doc finance is also available to PAYG applicants,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
A LOC is secured, Terry’s point is in relation to how a lending institution would assess a customer applying for finance with an existing LOC, fully drawn or not.
E.g.: $100.000 LOC @ 7.00% 10 year period I/O Repayments = $583.00 per month,
Credit providers calculate serviceability on a proposed loan application using there own specified benchmark rate, this is a rate above the SVR.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Ricksters,
PPR is short for Principle Place of Residence.Regarding Interest Only repayments, lower repayments can also help maximize serviceability on further lending.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Originally posted by lemueltipene:If NZ does anyone know how I can organise finance in NZ as I will continue to reside in QLD.
[smiling]
I organise finance for NZ.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Congratulations Vicgirl,
now you will be privy to some hot bargains,
like a child in a candy shop.[biggrin]Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi janp,
Managed apartments can be tricky, have you tried HSBC? Phone 1300308880
Good luck,Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Snap,[biggrin]
Markymark, well done on doing your due diligence regarding the FHOG, Cheers.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Originally posted by Motivstorm:you can’t buy IP and then PPOR and claim FHOG. It’s only for your first ever HOME, IP or not.
So you can’t buy heaps of IP, don’t stay in them and then buy a PPOR and stay and claim, u wont get it as you have owned numerous IPs before.
The above is incorrect,
If you have not purchased a property before the 1St July 2000, you will be eligible to purchase an investment property, and still apply for the FHOG when you purchase your owner occupied property.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Glenn,
Providing you have not purchased a property before the 1St July 2000, you will be eligible to purchase an investment property, and still apply for the FHOG when you purchase your owner occupied property.Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Jerome, and welcome to the forum,
I would strongly suggest that you talk with an accountant, who fully understands the inner workings regarding company and trust structures,Try Dale at Gatherum Goss & Associates in Melbourne,
http://www.gatherumgoss.comRegards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Mhk
11% interest is very steep, depending on your circumstance I would suggest you could refinance to a lower rate, and access the current equity for a deposit on an IP.Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Anita,
LMI = Lenders Mortgage Insurance
LVR = Loan To Value RatioRegards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
I wouldn’t be at all surprised if a commercial network signed her up, apparently it’s one of the highest rating shows on CH-31,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Agree with Aceyducey,
And if you want to talk to a Trust savvy Accountant, I suggest you contact Dale G.
http://www.gatherumgoss.comRegards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi James
If you are borrowing in a company name that does not have Two years trading figures, then the directors of the company will be required to show that they can service the loan,
You will still be eligible for a discount rate,Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Terry,
ANZ policy is max 95%,
However you are correct, LMI will consider a higher LVR, but approval for this is discretionary.Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Stamp duty is to be abolished in NSW for first homebuyers purchasing under $500.000
Mortgage stamp duty has been abolished in Victoria,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Cross colateralisation can be a nightmare for investors, unfortunately in a lot of cases with the right structure it could have been avoided,
Lenders by nature tend to grab as much security over a loan as possible, in some instances it may be warranted,
If your property portfolio is sitting at the high end of the loan to value ratio, and for what ever reason x coll cannot be avoided, then by ensuring the security over your mortgage is portable can help alleviate the problem of releasing security at a later date, this is achieved when the equity in the remaining investments increase.Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Dan,
Basically capitalisation of mortgage insurance allows you to add the LMI premium to the loan amount,
E.g., Required loan amount $300.000
Mortgage insurance for this loan, lets say $5.000
New capitalised loan amount = $305.000Keep in mind ANZ will allow LMI to be capatalised providing the total loan amount does not exceed 95% LVR, also stamp duty is payable on the LMI premium, in NSW its 5.0%
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi GP,
Below is a link to an article containing information on how to calculate repayments,
I personally use the repayment calculator on my laptop; it’s so much faster,
http://www.ext.colostate.edu/pubs/farmmgt/03758.pdf
Hope this helps,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VICTORIAPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
