Very susscintly put Debden……wholeheartedly agree.

Couldn't agree with you more G o M.

At least National legislation will clean up the Mortgage Broking industry and get rid of a load of cowboys.
Guess it is a start.

Hi Jamadee

Remember when you rent the property in Bundaberg out you will receive rent and also a Tax deduction for the interest shortfall, possibly an allowance for Building Write off and Depreciation as well (depending on the age of the property) so you maybe suprised howo little each week the property costs you to retain.

Also have you considered buying in Brisbane using a shared equity loan where you make repayments only on 75% of the purchase price and the other 20% would be interest and repayment free.

With increasing interest rates these type of products are becoming more and more attractive to clients looking to retain their investment assets as well as move into their own home. At 75% of the purchase price the repayments will probably go close to the current you would have to pay anyway.

For under a $100K sounds to me like a touch of rural / small country towns / even units.

Borrowing 95% will be hard enough let alone 100% plus costs.

Unless you have additional security my suggestion would to look at buying a PPOR first and benefit from the stamp duty concessions and FHOG which varies from $7-$10 depending on your location.

Only other alternative is negotiate some vendor finance with the deal. 

Roy

No disrespect talking directly to the lender they are never going to tell you that you can do better elsewhere.

SGB also have a condition in their mortgage deed that all loans under the Professional package have to be cross collateralised which is hardly good advice for an investor.

Again without actual figures and numbers it is difficult to make recommendation or comment.

You will however find that as a standalone deal at a 90% LVR no lender will waive the LMI in todays climate.
A few lenders do not charge LMI but charge a Rate Fee or similar to compensate for the lack of LMI.

Structured correctly the loans would be standalone and not cross collateralised which potentially could reduce the LMI exposure. 

I have over 45 of my properties in a variety of Discretionary Trust structures.

Unless you use a HDT or Unit Trust "you DEFINITELY CANNOT can negatively gear your property while using a trust"
 

No there is no such site.

In saying that most Mortgage Brokers will give you the same service.

Couple of quick observations:

1) Why are putting down a 10% deposit on an investment property when you have a personal mortgage with non deductible debt.

2) What entity is being used to purchase the business ?

3) Slightly confused as to the security when you say business and investment ….. can you clarify.

If you want a top Property A/c in SE Qld you can go past Steve Hodgkinson who is a partner at the Gold Business Group in Southport.

Steve has been my A/c for nearly 12 years and is a top bloke and expert in Property and Trust structures.

I have introduced him to many forum members all of whom have sung his praises.

He can be contacted on 55322855.

Tell him i sent you as most good Accountants are not taking on new clients especially this time of year.

Why not consider a shared equity loan.

For the same monthly repayment amount you would be able to borrow 20% more and enjoy a better property with higher propspects of capital growth.