Hi jnb
A couple of quick comments:

1) You mentioned that the new IP was purchased in Trust. You then say you are looking to negative gear the property. Hopefully you realise this in not possible inside a DFT.
2) Your former PPOR (now investment property) is negative geared yet the loan is a principal & interest loan. Should be an interest only loan with 100% in my opinion.
3) I assume the PPOR is in joint names? Have you considered a spousal buy out. There is a significant difference in you marginal Tax rates so definitely worth doing the numbers to see whether it is a viable consideration.
4) I am assuming that the loans are cross collaralised from reading your post. Definitely not a recommended strategy for an investor looking to increase their portfolio.

Cheers

Yours in Finance

Hi Wendy

There are a couple but more detailed data would be need to make a recommendation.

Derek is bang.

I always suggest to clients we work backwards. Secure the 80% standalone amount on the new NRAS IP and bridge the 20% balance and acqusition costs on your own PPOR. Just get your current lender to provide an equity loan or LOC and tell them unless they will go past 70% on NRAS you are taking the business elsewhere.

Dont let them dictate the terms to you and especially where LMI is involved.

Cheers

Yours in Finance

Guys this question gets asked so often and i dont think you are heeding the warnings that Mike and I have been giving you.

NO and i repeat NO overseas lender is going to understand or even care about the SIS legislation and the Limited Recourse Borrowing requirements.

Simple answer No Australian lender is going to take overseas security and no overseas lender is going to want to understand the legislation. If you can't pay cash for the property inside your SMSF overseas buy and borrowing in Australia.

Cheers

Yours in Finance

Brissiegirl

As Jamie has mentioned Yes it certainly is possible but not every lender is going to allow it.

Then of course you have the issue that whilst you may think it is worth a given figure the valuer may disagree. 
Most lenders use Valex which is a valuation exchange system whereby they plug in the property information and Valex randomly finds a valuer from their panel to pick up the job. Doesnt necessarily mean it will be the valuer you want.

As an example we have had 3 valuations done in a fortnight for a particular forum client here in Brisbane:

House purchased Oct 11 – $500,000   (Clients have done 40K of reno work).
First valuation – $496,000.
Second valuation – $585,000 (different valuer)
Third valuation – $550,000

All 3 valuers came off the Valex system.

My final comment would be on the fact that you are looking to draw on the equity and then cross collateralise the securities.
If you ever going to have a problem down the track crossing the loans isnt going to help but certainly will hinder you going forward.

This would have to be the worst stategy for investors.

Cheers

Yours in Finance

Hi Keiko

Sure it would be $2958.

Cheers

Yours in Finance

Keiko

No hate to say neither Citibank or ING are offering it anymore.

ING operate a REF instead of LMI which can be slightly cheaper although comes with certain conditions depending on the property
location and stability of the clients residency / employment history.

Yes 90% is available with No LMI subject to the strength of the borrower.

Cheers

Yours in Finance

Heh Soloman

I wont be coming until the temp is over 20 degrees lol

Guys anyone interested drop me an email and i will put you on the invitation list.

Jac M that doesnt mean you as you are on the priority list.

Cheers

Yours in Finance

Hi Johann

Yes anything involves any form of credit requires a license.

From next year the 18 year girl behind the counter at Harvey Norman selling you a computer on 36 months lease is going to need to be licensed. Same with the second hand car salesman who tells you he will finance any client irrespective of your credit record or income.

Cheers

Yours in Finance

Hi Kirsty

if you want to email the real estate link to the property so i can have a look for you and let you know what is achieveable.

Don, they have no minimum square metre policy but must consist of at least 1 bedroom. Got a deal going thru for a forum member that is only 32 Sq Metres and that has been approved.

Cheers

Yours In Finance 

Mustafa dont waste your time with the local Banks as they wont have a clue.

You need a Broker with a wee bit of experience.

Advertising on this site is not allowed but i have 101 clients in Melbourne if you wanted to shoot me an email with some numbers i will give you an honest unbiased view of what can and cannot be done.

Cheers

Yours in Finance