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Richard Taylor
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May 11, 2010 - 8:31 am
Unfortunately Suncorp do not do lodoc for day traders as it is deemed too high risk.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 10, 2010 - 9:52 pm
Richard
Closed a deal last week for a UK Citizen / Resident in Lancs at 5.82% fixed for 30 years.
Only available on purchase and single family dwellings. Have another couple of deals going into today but no indication rates have changed.

Richard Taylor | Australia's leading private lender
Richard Taylor
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May 10, 2010 - 7:27 am
Richard
Residential.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 9, 2010 - 11:28 am
Normal full doc loan plus 4 independant Trade references.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 9, 2010 - 12:32 am
Hi Sonya
We deal with about a dozen life Companies (although if the big Banks have their way they will reduce this number) and for investors find the most requested quotes are for either simple Term Life insurance or income protection.
Many clients believe that they have income protection through their superanuation but more and more find that the policy is simply inadequate because of either the waiting period, payment period or does not cover the full 75% of their income.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 9, 2010 - 12:26 am
Yes 60% in every State with the exception of Hawaii & Alaska.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 8, 2010 - 1:47 pm
Well you could if the link was working
You can actually get a copy of the presentation slide from this link:
http://www.21stcenturyfileserver1.com/pdf/forms/PD07_2DayWorkbookPrice.pdf
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 8, 2010 - 1:44 pm
GOM Yes always like to correct some of the rubbish and misinformation out there.
Amazing how many Brokers say it cant be done when often it is merely a matter of working out a way.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 8, 2010 - 6:39 am
Borrowing costs are claimed over 5 Years or the term of the loan whichever is shorter and proportionilised in Year 1.
If you took a 3 Year Interest only loan then the deduction would be over 3 Years.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 8, 2010 - 6:37 am
To correct a couple of posts:
1) Yes interest incurred on borrowings to renovate your IP is certainly Tax Deductible.
2) Interest charged on increasing your loan secured against your IP with the sole purpose being to pay down debt secured against your IP which was originally used to purchase the IP again is certainly Tax deductible.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 8, 2010 - 6:33 am
Steve for your information if you provide finance in Perth you need to hold a Credit License to transact business in WA.
Your mates at WWP dont appear to have such a license so maybe they cant help after all.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 7, 2010 - 2:22 pm
Heh Steve
30 Posts and 21 of them refer to a referral to a Mortgage Broker and Property investment services.
Not bad mate what cut do you get on each sale or are you the owner ?
Perhaps contribute for a year or two first before you sell your services.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 7, 2010 - 4:44 am
As i said there i am only aware of 2 standard lenders who will do lodoc construction irrespective of whether it be a refi or a bridging loan.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 6, 2010 - 12:44 pm
Hi GuysYou might like to contact Adam from the forum who runs a casual investor meeting night once a month in Melbourne.His email is *removed* A lot of the Melbourne members go along each month.
- This reply was modified 11 years ago by Richard Taylor.
- This reply was modified 10 years, 6 months ago by Administrator.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 6, 2010 - 12:37 pm
Where are you looking to buy House Call.
There are some excellent Buyers Agents out there a couple of whom grace our site here.
Alan Fox at Propertunity Pty Ltd is based in NSW and a forum member.
He specialised in Sydney / Central Coast so drop him a line if you are interested in this area.
info@propertunity.com.au
Just financing a couple of forum members deals through him at the moment and they have certainly bought well.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 6, 2010 - 12:33 pm
Duplicated Post
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 6, 2010 - 12:32 pm
Hi Tumu
Firstly welcome to the forum and I hope you enjoy your time with us.
Whatever you do dont listen to your Bank who certainly dont have any interest and from the sounds of it have little experience in structuring the loan for your benefit rather than there's.
Look to take an equity loan against the current PPOR for an amount of 20% of the likely purchase price plus sufficient to cover the acqusition costs. This loan will need to be in Joint names as the current Title is held Jointly.
Then in turn probably with a separate lender take out a standalone loan against the new investment property which i assume will be in your sole name.
On review you might also want to think about making your current loan interest only unless of course you intend to keep as a PPOR forever and a day and would never rent it out even if you did move.
There are some excellent investor style loans out there at the moment so you should be able to achieve an excellent rate of interest as well as no application / valuation or ongoing fees.
Keep the securities separate and once the IP increases in valuer look to debt recyle increasing the loan to 80% of the new valuation figure and paydown the loan secured against your PPOR. Eventually the entire debt will be against the IP and you can either go again or clear the loan secured against the PPOR for good.
Your mortgage broker should be able to assist you with your options.
Richard Taylor | Australia's leading private lender
Richard Taylor
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Post Count: 12,024
May 6, 2010 - 12:32 pm
Hi Tumu
Firstly welcome to the forum and I hope you enjoy your time with us.
Whatever you do dont listen to your Bank who certainly dont have any interest and from the sounds of it have little experience in structuring the loan for your benefit rather than there's.
Look to take an equity loan against the current PPOR for an amount of 20% of the likely purchase price plus sufficient to cover the acqusition costs. This loan will need to be in Joint names as the current Title is held Jointly.
Then in turn probably with a separate lender take out a standalone loan against the new investment property which i assume will be in your sole name.
On review you might also want to think about making your current loan interest only unless of course you intend to keep as a PPOR forever and a day and would never rent it out even if you did move.
There are some excellent investor style loans out there at the moment so you should be able to achieve an excellent rate of interest as well as no application / valuation or ongoing fees.
Keep the securities separate and once the IP increases in valuer look to debt recyle increasing the loan to 80% of the new valuation figure and paydown the loan secured against your PPOR. Eventually the entire debt will be against the IP and you can either go again or clear the loan secured against the PPOR for good.
Your mortgage broker should be able to assist you with your options.
Richard Taylor | Australia's leading private lender
Richard Taylor
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Join Date: 2003
Post Count: 12,024
May 6, 2010 - 12:25 pm
As Terry mentions it is the oldest chesnut doing the rounds and is incorrect.
Rather than go thru the reasons why just do a search and read what has been written on the subject before.
Richard Taylor | Australia's leading private lender
Richard Taylor
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May 5, 2010 - 1:12 pm
I would disagree about obtaining finance in the US.
I have been involved in financing deals for UK citizens introduced to me through a Investment Property firm based in the UK for over 10 years and acting for Australians for about 6 years.
Yes it has become a little harder and many of the US lenders i deal with are no longer with us but if you want conventional finance for a standalone single dwelling it can certaily be obtained to 60% or 70% in Florida.
Richard Taylor | Australia's leading private lender