Forum Replies Created
Hi Westan
I have contacted the lending institution for a list of the valuer companies they use in NZ,
As long as you use the valuer on the list then what you sugest will be fine, I will e-mail the list to you as soon as I receive it,
Kind Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Some more info, In response to the high level of inquiries I have received regarding finance for NZ,
Standard Rate 6.85%
Standard Application Fee $330.00 (Aust $)
Legal Fee (1 Property) $425.00 (NZ $)
Valuation Fee $500.00 (NZ $)Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Eternity,
I have sent you a PM
regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi WM,
The lender for NZ finance is in Australia,
regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Xenia,
I can help secure finance for Australian investors who intend to purchase in NZ, 80% max LVR at 6.85% svr,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Sweetp,
Rental Income,
ANZ 75% and 60% for melb,syd inner city apartments,
St George Bank 80% and 60% for melb,syd inner city apartments,Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Johngee,
If you have enough equity then the short answer is yes,,, some other options to consider are,
A top up loan on your current portfolio, this may be more cost effective than a total refinance,
Or,refinance 4 of the 5 properties and pay down the debt on the 5th , this property is then unencumbered,
I suggest you contact a good independent Mortgage Broker, Simon or Terry come to mind,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Some lenders will cover the LMI on a 90% refinance, this is covered by the extra 0.3% above the SVR
In some cases e.g., St George with a strong application will do a 95% refinance with the 0.3%Regards
Steven
Mortgage broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Newgen,
A refinance at 95% on the current valuation of 500K less the 415K debt, will leave you with 60K for a deposit,
Expect to pay a higher rate, approx 0.3% above the SVR to cover the LMI on a 95% lend.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Shushar,
Thank you for your kind words,Simon & Terry, I agree with your sentiments 100%,
Some other issues that make my blood boil,,,,or, more reasons to use a good mortgage broker,,,,The amount of clients lumbered with the wrong loan product from some banks, failure to inform a customer of available discounts, excessive security grabbing, lack of knowledge regarding there own product details, I could go on but I better stop there,,,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Abundance,
If the property you intend to purchase is tenanted, the lending institution may include 60% to 80% (in some cases depending on the post code) of rental income towards your borrowing capacity to calculate your ability to service the loan,
If the proposed property is vacant, the lender may require a rental valuation.
Regards
Steven
Mortgage Broker.[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Waf,
How long did you want to fix?
I have 3 year fixed 6.95% with partial 1.50% offset, no redraw.1 year introductory fixed 5.99% with 100% offset
no redraw.
Not a lot of options with fixed products,
as Simon said, have you considered a split.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Herzen
I have quickly crunched some numbers based on your figures,
Keeping your credit card at $8000 and the debt of $4650 you should qualify for a $260.000 loan
If you get rid of the $8000 credit card then you should qualify for an extra $30K = $291.00080% of $335.000 (property value) = $268.000
Balance of current loan $218.000
This will leave you with $50.000 to play with.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Interesting topic,
As my Three children get older (eldest Daughter is 15 going on 21) their future financial situation is at the forefront in my thoughts,
My children like most today are educated academically but the vast majority are not educated in a financial sense, this is where we as parents can instill into our children our knowledge of wealth creation or Kiyosaki (rich dad poor dad) type of mindset, After all, most of us at one time or another have wished we had this information/knowledge at an earlier stage in life, our children tend to inherit our political and religious beliefs, then why not our strategies for wealth creation and a better life also,
I am prepared to help my children get a head start in life, be it a deposit or guarantor for an investment etc, what follows after that will be up to them.
Regards
Steven.Mortgage Broker
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
I have clients interstate and in other countries, its not a problem these days with e-mail, fax, and the phone,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Lea,
Give me a call, I may be able to help you get a Low Doc in a Trust, 80%LVR no LMI for your client.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Thats great news Phil, Well done,
Regards
StevenMortgage Broker
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Dom
On my books I have 2 year 6.99% and 3 year 6.95%
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Phil,
It sounds like they have you over a barrel, You have two choices put in another application or try another lender, It would also be a good idea to check Xplore capitals construction period, conditions,
The builder should have insurance contracts etc you won’t get a construction loan without these,
The loan will be drawn down in stages, so check with Xplore on inspection fees,
If I can help let me know, Good luck Phil let us know how you get on.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Phil,
In this case the problem may be with your builder,
The Bank will need contracts, insurance etc before they will commit to a construction loan, another condition to be aware of, the construction period is usually Twelve Months,
Regards
steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
