pfsfinance replied to the topic GOLD COAST PROPERTY/POSITIVE CASH FLOW OR GEARING in the forum No Subject 19 years, 7 months ago
The Gold Coast isn’t just a Holiday rental market. There is a permanent rental market up here as well.
It really depends if you are looking at being able to use the property for your own holidays or whether you just want to rent it out permanently.
Wholesale Mortgage Lender that deals only with brokers.
pfsfinance replied to the topic Lines of Credit in the forum Finance 19 years, 7 months ago
Hey Rob.
Whats the difference between a reducing LOC and a Loan with a offset account?
e: financecoach@optusnet.com.au
Mobile: 0425 358 293
pfsfinance replied to the topic Investing in Motels in the forum Creative Investing 19 years, 7 months ago
Do you need finance to complete the purchase? If so motels are seen as specialised securities, which means there is a very limited number of lenders that will provide finance and your lvr will be very low mainly around the 40 – 60% mark.
e: financecoach@optusnet.com.au
Mobile: 0425 358 293
pfsfinance replied to the topic Mortgage Brokers in the forum Finance 19 years, 7 months ago
Are you after a loan or do you have some questions?
If you have questions, feel free to email me as my name says I’m not a broker anymore but I am a state manager for a Mortgage Manager and will be able to answer any questions you have and point you in the right direction.
e: financecoach@optusnet.com.au
Mobile: 0425 358 293
pfsfinance replied to the topic 95% Lo Docs in the forum Finance 19 years, 7 months ago
Steven- I’ll send you a product matrix as soon as it is released.
I will also post the relevant details regarding the product on here.
e: financecoach@optusnet.com.au
Mobile: 0425 358 293
pfsfinance replied to the topic 95% Lo Docs in the forum Finance 19 years, 7 months ago
There is already one out there now, but there will be a new one hitting the market in the next couple of weeks.
If the product is similar to the 90% lo doc they have, there will be no mortgage insurance, but a settlement fee. The 90% product has a 1% settlement fee, payable on settlement.
e: financecoach@optusnet.com.au
Mobile: 0425 358 293
pfsfinance replied to the topic loan for 38sq metre flats in the forum Finance 19 years, 7 months ago
I have emailed you with a lender that will definately do it. I spoke to them today about your situation.
e: financecoach@optusnet.com.au
Mobile: 0425 358 293
pfsfinance replied to the topic The best option in the forum No Subject 19 years, 7 months ago
It really depends on the current rate you are paying on your p&i loans and you may also be able to increase the loan amounts with you current lender. You would probably have to do a construction loan on the land before you start building. How many units are you looking at building and have you run what you want to do with your current…[Read more]
pfsfinance replied to the topic loan for 38sq metre flats in the forum Finance 19 years, 7 months ago
Do the 2 smaller flats have kitchens?
I’d have to ring a funder tomorrow to see if they will do under 45m2.
What postcode are the properties in and are you looking for full doc or lo doc?
pfsfinance replied to the topic Unlicensed selling in the forum No Subject 19 years, 7 months ago
Contracts need to be done by solicitors and any deposit from the purchaser needs to be taken by the solicitor and placed in their trust account.
pfsfinance replied to the topic AM I Some KINDA Freak? in the forum Finance 19 years, 7 months ago
You would probably have to do it as a construction loan as there is no certificate of occupancy and most lenders are very vary of this as it can put them in a bad situation if they were to lend you the whole amount, the property settles and then you don’t do the renos and then default on your loan. It would leave them with a property that was not…[Read more]
pfsfinance replied to the topic Desperately need help in the forum No Subject 19 years, 7 months ago
Sounds like you need help fast. If you want to email me the figures and postcodes etc. I can ring a couple of funders and mortgage insurers and see what I can do. I am a state manager for a mortgage manager and deal with brokers but I have direct access to credit departments of funders and can then point you in the right direction with what…[Read more]
pfsfinance replied to the topic Lo-Doc loan for trusts with Company trustee in the forum Finance 19 years, 7 months ago
You will find that the most that a mortgage insurer will do is 4 units on one title. I had a scenario this week where a brokers client had 4 units on one title and 6 units on another title. The most the mortgage insurers would do was 4 on one title full doc and this was talking to the mortgage insurers underwriters and getting a decision on it…[Read more]
pfsfinance replied to the topic Lo-Doc loan for trusts with Company trustee in the forum Finance 19 years, 7 months ago
I work for a wholesale mortgage manager and looking through the 5 funders that we use, most are able to do this deal. If you want to email me I can let you know what lender will do it.
We do not deal with retail clients, we only deal with brokers and I also have direct access to funders credit departments, so I can also check with them if I need…[Read more]
pfsfinance replied to the topic 90% LVR Low Doc loan on an apartment ??? in the forum No Subject 19 years, 7 months ago
I work for a mortgage manager and our 90% lodoc loan indicative rate is 10.30%
There is no mortgage insurance but there is a 1% settlement fee due on settlement of property.
Prahran is also an acceptable postcode.
pfsfinance replied to the topic The End Nigh? in the forum Finance 19 years, 7 months ago
One of the cheapest lo doc on the market is around 6.9% to 7.2% and thats at 80% lvr. With lo doc loans you really have to look across the whole market as the interest rates & deals can vary considerably. 60% lvr sounds like one of the banks, which are pretty inflexible with lo docs and do very low lvrs.
pfsfinance replied to the topic need good finance from somebody! in the forum No Subject 19 years, 7 months ago
I do know of a few lenders that will do this.
If you want to message me I will give you the lenders names. As my username says I am not a broker any more. I’m now a state manager for a Wholesale funder which deals directly with brokers/introducers.
pfsfinance replied to the topic need good finance from somebody! in the forum No Subject 19 years, 7 months ago
What sort of rate are you looking for?
I may be able to point you in the right direction.
Regards
Kerri
pfsfinance replied to the topic Meaning of Cross Collaterisation in the forum No Subject 19 years, 7 months ago
C/C Is really the lenders looking after their own interests.
I had someone contact me recently who had all his loans with one of the banks. He did a Low Doc with them at 60% lvr and they told them he had to bring all his loans to their bank otherwise they wouldn’t give him the funds, Which he did. Now he is stuffed as they have cross coll. 10…[Read more]
pfsfinance replied to the topic Refinacing in the forum Finance 19 years, 8 months ago
Hi wilko.
With that user name you surname wouldn’t be Wilkinson would it.If it is my surname is wilkinson also. So we could be related. Anyway you really don’t need a broker that is close by as everything can be don by fax or phone, as long as your feel comfortable with the broker that you deal with it doesn’t matter whereaouts in australia they…[Read more]
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