See Peta

Other great minds think alike.

Good luck…..

Owner Builders are not the favourite clients of Lenders so you will be limited to around 75-80% Lvr.

Hi Keiko,

They start at the same as a residential loan subject to lvr and the type of security.

As Terry mentioned there are 1 or 2 lenders offering Nodoc but almost wiped of the face.

Lodoc 80 is still with us as long as you have at least 12 months ABN (GST registration if you declare more than 75K) with variable rates from 7.23% and fixed rates around 6.99%. 

Adrian

65% LVR finance available for Foreign Nationals at around 4.25% variable in the US.

NY
 
I think it is like anything if you buy right and have a longer term attitude then any time is a good time to be buying.

As i said just wouldnt be buying with others as their time perspective may chance at any time and they want out and you are in for the long term.

Remember if the lenders and mortgage insurers didnt think it owuld be the right time to be buying then they would not go to 95-100% as they would be worried that they woul dhave negative equity before they started

Hi Pete

Some answers for you below:

1) how easy is it to get 95% lvr for a trust?

A) With a DFT this is still possible.

2) Deposit,stampduty,lmi etc – how does the trust get the money for this and what would be the best way to go about it?

A) The Trustees can lend the money to the Trust however if you are looking to refinance then presumably you will need to find these funds from your own sources.

3)i understand that some banks require named beneficieries as gaurentors, is there anyway i could be a benificiery without being directly named?

A) Yes this is not the case with every lender. Some lenders do require the beneficiarys to provide a guarantee you are right.

4) We would have to pay early repayment fees on the properties, is there a way we could get around around this if the trust used the same lender?

A) Unlikely as the entities are different. Depends if you can negotiate this with your lender.

Must admit the cost of transferring the properties into Trust could be excessive given what you trying to achieve when you add up the Stamp duty, registration, LMI, CGT (where applicable). Are you wanting to take cash out of the existing properties to take the loan upto 95% ? This in its own right could be an issue with a related party.

Also the Pty Ltd Company as Trustee will have slightly higher set up costs as many lenders require the Trust Deed and Constitution to be vetted and charge upfront for this.

I can think of better ways to obtain asset protection and half the cost.

Terry is right i think circa 70% would probably be the maximum LVR. ( I do have 1 lender that will do 80% but the rate and costs are slightly higher than the norm). 

With a serviced apartment if you have signed a Management Agreement for a period of years then if the lender reposesses the property they have a limited market they can sell it to i.e No Owners Occupiers.

Secondly some lenders have a maximum number of units they will lend against in a large complex maybe say maximum of 3-5% so maybe max 11 in the complex. It boils down to exposure in a particualr sector of the market.