You may not need to resort to private funding. It all depends on your business operation, Assets, security and cash flow. I would like to assist, but a more thorough assessment would require a fair bit more information. Please feel free to contact me via email if you would like some further assistance. mortgageplus2007@gmail.comAll the best. Tim

If you still have a copy of your loan documents, there should be mention of the Insurer, by specific name, in the funds disburesment schedule. The bank would have advanced part of the settlement funds to the insurer, and it will be noted in there somewhere. Look for the form with all the cheques etc, and payments that were made, and the total at…[Read more]

80% is old news. Get your head out of the 80's Duck.Re-fi + equity release 90% LVR is no worries.

Genworth <12mths – 40% refund     12mths to <24mths – 20%QBE (PMI)  <12mths – 40%. MGIC   <12 months – 40%You must submit a written request to the funder or mortgage manager within one month from the discharge of the insured oan. Processing can take 4-8 weeks. Good luck.

Rather than following the apparrent trand of guessing blindly in the dark, much like the advice you just recieved, why not invest in some actual facts and figures. Look at the very useful free sites, like realestate.com.au and domain.com.au, and look at suburb profiles and recently sold properties. DO NOT put any weight in the advertised prices,…[Read more]

Most lenders will look at lending to a trust in much the same way as an individual, but with a few additional requirements. These being – Beneficiaries will usually have to provide Guarantees for the loan. You will need to provide a trust deedThe trust deed will have to specify the proposed activity is part of the intended activities of the trust.…[Read more]

It will certainly be better to break the loan sooner rather than later, as the lions share of the break fees will be worked out on the difference between what you are fixed on, and the current market rates. That means the longer you wait, the more expensive it will get if the RBA drops rates again (highly likley). There might be a middle ground,…[Read more]

Denise, you are on another planet. Why would you need a LOC for the Investment Property. What transactions are you planning to make other than monthly interest payments?Also, Glen IS actually using the equity in his own property to get the required funds for the IP.Thirdly, I am sure you are not advising him to cross-collateralise the two…[Read more]

Sounds like you need to do some more research. If you transfer the properties from the company (or trust) to each individual investor, you WILL pay stamp duty. If you sell down some of the stock at wholesale, you will KILL the future plans to sell the units at market value, as the valuation will rely heavily on the comparable sales. By allowing…[Read more]

Chances are you will not get the deal through on a residential basis, as it is clearly a development loan. 3 properties is a bit hard to explain away. The pre sales will certainly boost your ability to pick up a suitable finance facility. You could go for a wide range of options, it all depends on what you intend to use your funds for if you don't…[Read more]

Why do you want to go 'Owner Buiilder'?Taking into account the earlier mishap in your calculations of 80% LVR, and also that it is your first home, it might not be the best strategy?Also, what will the value of the property be when it is complete?It certainly sounds like you should set it up as investment to ease your servicing pain. As long as…[Read more]

I agree. That is the correct formula. Just remember, you will need to work it out on the actual daily balance, and allow for any balance changes throughout the month. Other than that, if your figures do not line up with the bank then hit them up. Good luck.

Charlie, Why do you need Private Money?For a 'small' development, the costs of establishing an investment pool, drawing up the necessary documents, determining pricing, repayment frequency etc etc would hardly be worth it. Even for a bigger project, organising all that on your own is a pain. Why not just have someone look at the proposal, qualify…[Read more]

Providing you have a Sell it All exit strategy, the servicibility is not even considered for a true commercial facility. Both previous replies have completely overlooked this. If you have a suitable fesibility and site with DA, your deal will be considered with interest capitalisation in advance, and a 'Sell All' exit strategy. Servicing is for…[Read more]

Joner, I will send you invormation via email. There are still plenty of private funding options etc available in the marketplace.

If you would like to email me your contact info, I will be happy to assist you with a templats, or at the very least a Fesability proposal to submit along with a finance application. Tim

Lady, See my most recent post on the High Density Unit post for more details. Any other questions, I am happy to answer. Thanks.

LOL. Small. Just to clarify, GE is the simgle largest company in the world. Small would not be one of the most suitable descriptions. Further to that, they have got themselves a questionable reputation in the marketplace, as they have operated GE creditline and personal loan services for a long time, and certain 'Interest Free' promotions have…[Read more]

LOAN AMOUNT $499K    RISK FEE                MORTGAGE INSURANCE         Saving85% Regulated             $399                 $4,958                             92%ING Banks Self Insure, with the above risk fee applicable. Not a bad saving. The results vary, but it is cheaper to go no LMI if you meet the policy. And now you know.     

Mortgage Insurance might not even apply. In a lot of cases, you can place the loan with a 'Self Insured' funder, and significantly reduce your borrowing costs. There is certainly more than one way to skin a cat. If you are looking at a full doc loan (if you are PAYG employed or have Full Financials) then you have to decide how much you want to get…[Read more]