Hi Tony,

Virgin’s Home Loan business is through a joint venture with Macquarie Bank. The structure is quite different than the relationship with Westpac. Macquarie raises the money and Virgin manages the loan (although Macquarie also has a signficant stake in Virgin Money itself). The products are basic with no fees but also no real added…[Read more]

Hi Storming,

A line of credit will give you flexibility, but, as Terry says the rates are generally a bit higher than for a regular loan. Another possibility for accessing your equity is taking out an investment loan with a 100% offset account and leaving your surplus funds in the offset account. I suggest you speak to a good broker about your…[Read more]

Hi tbsuper,

It is possible to get finance on properties below 50sqm as long as the hotel is under 10 storeys and the unit is above 37sqm. There are lenders that will go as high as 95% on serviced apartments (but on higher rates that kill the yield). As Davel said you could get a 60% lend from a bank at a reasonable rate.

Kind Regards,

Cameron…[Read more]

Hi Wullah,

There are a couple of stages in funding a project such as this. The first step is the purchase of the land, for which you could probably look at a 70% lend. You will then need to get your plans and subdivision approved by council. Then there is the development portion. It is impossible to give you indicative rates as these will vary…[Read more]

Hi Doog,

Try http://www.homepriceguide.com.au or http://www.residex.com.au. The residex reports are more comprehensive but also a bit more expensive.

Kind Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

True No Doc Loans 70% LVR from 6.99%
Non-Recourse…[Read more]

Hi Brizza,

Under certain circumstances, Colonial is able to sign off on their mortgage insurance on behalf of GE and as a result they are a little more relaxed on postcodes than many other lenders (this may mean they will go to 95% in some areas where others will only go to 90%). There are a number of other lenders who don’t require mortgage…[Read more]

Hi Michelle,

There are are a couple of lenders that offer construction loans up to 107.5% LVR. These can get quite expensive, however. If you have enough to cover expenses you can get 100% construction finance at reasonable rates.

Kind Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC…[Read more]

Hi Mulder,

You have come to the right place. There are many excellent professionals posting on this site.

Kind Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Hi Angel,

Are you eligible for the First Home Owners Grant (is this your first purchase of an owner-occupied property)? If so, you should have enough to get a 95% loan.

Are you the sole director of the business? If so, you could use the company profits to help with serviceability. I suggest you contact a good broker to get some advice as to your…[Read more]

Handyman,

I think you should elaborate a bit more about what you would be bringing to the table, as this sounds a little like you want someone else to bear all of the risk for your investing (I’m not saying this is what you mean, but your post reads like that).

Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30…[Read more]

Hi,

Could you please provide a bit more information? What part of Canada are you talking about? Do tenants pay utilities? How old are the properties? What are the vacancy rates like in the area?

Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Hi Grant,

It is possible to transfer security, but not to security in the name of a third party with the possible exception of if the third party is your direct family.

Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Hi Isoph,

If your looking at the Western Suburbs, there are some areas surrounding Footscray that look have some really good prospects. Seddon, West Footscray, Yarraville and Newport are still relatively inexpensive and don’t have a lot of the problems that Footscray does, so they may have some more potential for growth. Best of luck.

Kind…[Read more]

Hi Brizza,

Mortgage insurers have relaxed their requirements for some of the majors, and provided your debt servicing is very strong you can get a 95% loan without genuine savings now quite easily.

Kind Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

hb,

You seem to have a couple of misconceptions about using brokers. Firstly, you would not be able to get a better deal going through a bank as this incurs more administrative expenses for the bank. The commission paid to the broker is offset by the saving of these administrative expenses. Secondly, the third party banking departments of the…[Read more]

Hi Don,

I know GPT (General Property Trust) and Babcock & Brown bought some apartment buildings in Berlin recently in a joint venture. Just out of curiosity, why do you ask?

Kind Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

I don’t know about most of those locations but I wouldn’t be investing in Fiji at the moment. Big chance of another coup happening soon and the government has put up a travel warning.

Regards,

Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Hi Jes,

The maximum LVR on a low doc loan that you would be able to get would be 95% with rates from around 8.5%. I suggest you speak to a good broker about your options.

Regards,

Cameron Perry
Finance Consultant
Perry Financial Strategies
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Hi Mitchy,

One option is to go for a 100% investment loan. That way you would only need to pay your mortgage insurance and stamp duty, which should be covered by your $8,000. The rates start from 6.89% on these loans.

Kind Regards,

Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662…[Read more]

Hi Grant,

To answer your question, yes there are lenders who will lend on end value of the project to 65% and you could get a second mortgage on top of that if you wanted to go higher, but the rates would be high.

An equity partner is someone who would invest some more equity into the project. The more equity you have in the project the more…[Read more]