Forum Replies Created
Where is the property located and what did you pay for it ?
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Richard Taylor | Australia's leading private lender
Hi Bala
No they don’t offer 100% loans for investment.
We certainly don’t offer 30 Year loans but i can’t comment about others. Have to say I doubt it.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Huilo
No not necessarily many Lease doc type products are charged at standard Commercial Rates (albeit in the main these are higher than your standard resi home loan rates).
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Monique
As a Buyers Agent we buy a lot of properties in that SW pocket for forum members but must admit i am not sure i would be buying in the suburbs your current BA has listed for a number of reasons.
Certainly the enclave is a popular area for SMSF purchases but i think you can do better than the suburbs outlined.
Just want to make sure your SMSF Financier is happy with the mentioned suburbs.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Mark
Firstly welcome to the forum and I hope you enjoy your time with us.
Whilst a good property Accountant is important and I can certainly recommend someone to you setting up multiple Trusts certainly won’t help you increase your borrowing capacity.
Unfortunately this was a myth of Xmas past and has certainly been super seeded in the modern lending world.
As far as a half decent Mortgage Broker can’t help you there lol
No seriously shoot me an email be happy to advise you as i have bought a property or two in Brisbane over the last 20 years.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Hullo
Yes we see a lot of clients look to do this.
In saying that there is often a way to access their equity with a carefully planned strategy.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Tam
Firstly welcome to the forum and I hope you enjoy your time with us.
Certainly shouldn’t be too difficult to find a positively geared Commercial property as you limited to circa 60-70% lvr so means you are putting in a fair amount of deposit.
Whilst the odd lender might go to 75% if it is a P & I loan the higher yielding properties are being snapped by SMSF and large corporates who are seeking better returns.
Most decent Commercial properties over $1M go to Auction so you will want to be sure that your finance etc is all in place and you have had the property valued.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Yes good news all-round and glad my vote counted.
Certainly going to be interesting times ahead.
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Yours in Finance
Richard Taylor | Australia's leading private lender
I used them first in 1994 when Kim Cannon set up Nationale.
Couple of name changes later and Firstmac have just recently issued a 500M RMBS.
We haven’t used them for a few years since they changed their servicing model.
Can’t think of any real niche’s they have to offer.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi IC
Ok an Essex boy. I am from further south in Bournemouth.
Yes set up sounds ok but wouldn’t pay a premium for separate offset accounts as just having the 1 is enough.
First loan might have an offset attached and then a basic loan with no frills.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Khiem
We cover the 3 areas you are referring to.
Certainly a lot of demand for these suburbs given the slightly higher yields and lower entry price.
Happy to email you some details if you want.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Yes NSW were not alone both QLD & VIC tinkered with there FIRB duties.
Covers anyone who requires Foreign Investment Board Review to be able to purchase.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Sam
Welcome to the forum and I hope you enjoy your time with us.
A MB is a Mortgage Broker who arranges finance on behalf of clients
As Benny has outlined your first issue could be obtaining finance to any decent loan to valuation on such a security.
I am not aware of the complex but you may well find you can’t borrow much more than 60% of the purchase price.
Other investment risks to consider but finance certainly will be a biggie.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi IC
Welcome to the forum and I hope you enjoy your time with us.
As a fellow Pom I can understand you wanting to bring your funds across and start investing in Australia.
Certainly the rates of interest in the UK are considerably lower and as long as you manage the currency risk accordingly your cost of borrowing will be a lot lower.
It will depend on the loan to valuation as to whether Aussie lenders will accept your overseas funds as genuine savings but a few ways around this.
If the funds raised are used for investment then the interest will be tax deductible even if raised from overseas.
Being your first investment i would start slowly and then look to increase your portfolio over time.
Finally which part of the UK are you from?
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Yours in Finance
Richard Taylor | Australia's leading private lender
Leonie Dixon at CSM Conveyancing Beenleigh you can’t go far wrong with.
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Richard Taylor | Australia's leading private lender
Hi Tjay
Yes must admit the new Qld Boost has created a lot of new interest.
Certainly from a income point of view i don’t see an issue in showing you can service the total loan but unless you have been renting thru a real estate agent for the last 12 months you are going to need a little more in savings.
5% on a total price of $500K would be $25K and the Qld Boost would not be considered genuine savings.
If you purchasing the land first and then going for a separate construction loan you make to make sure the potential lender will capitalise the total LMI.
As always further information in respect of expenses would be required as a single persons living allowance as assessed by lenders is a lot moire than $800 / month.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Yes totally agree there are good and bad of both.
Not sure which lenders pay a higher commission because through the larger aggregators commission rates are almost identical.
Guess you could also say there has been many a Banker falsify client details on an application to get a deal over the line to aid his / her own sales targets.
In saying all of this a Banker can only offer a single suite of products and therefore is not able to offer a client the best rate in the market as they can only offer what their employer has to have offer.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Interesting endorsement from someone making their maiden post.
Am I a sceptic or just olde fashioned.
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Richard Taylor | Australia's leading private lender
George using Units in a Unit Trust or not does not get you around SISA.
You cannot mortgage the property as Terry has indicated above.
Misguided, definitely do not take that post as advice as it is incorrect advice.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi George
Really and a Banker will actually tell you whether you can get a better deal down the road………
I must admit most of the poor set up’s or loan structures i have seen are on loans that have been processed by Bankers.
At least a Broker can give you an overview of the whole market and compare all available loans to ensure the recommended product meets with your goals and objectives.
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Yours in Finance
Richard Taylor | Australia's leading private lender
