Hi Robert

I thank you for the kind words and certainly try to assist where possible.

Yes Anz like many other charge LMI on a lodoc loan where the LVR is > 60%.
In saying this remember LMI is a deductible loan cost where used for investment purposes however not for a PPOR.

I think we might be able to do some tweaking of the loan set up to get you over the line. If you go over a 80% LVR and need to do this lodoc you are more than likely to incur either LMI or a higher application cost / interest rate.

Drop me an email and we can sort out the problem for you. 

Sross

Please post your product details for all to see.

Hi Hanging

Just be careful with the sausage factory franchises as the owners and the sales staff come and go like the wind.
You are better off with an independant broker who can give you an overall view of your options.

Before you consolidate both of your loans in one make sure they are both non tax deductible or both deductible as the last thing you want to do is mix up good and bad debt in one.

Also make sure your broker choices a loan that can grow with you as you expand your investment and not something that is too rigid and has little or no options or features.

Hi Robert

I am not sure who structured your loan with Anz Bank but is does not seem to fit well.

There are a couple of reasons why the Bank will do a kerbside / full valuation so not a lot can be done about that.

In answer to your questions:
1) Yes the additional Line of Credit will be consider as a liability for any new potential lender.
2) Anything over 80% LVR and the number of lenders offering lodoc product is substantially reduced. You fees and set up costs will be higher along with the rate of interest.

In saying all of this i think there are several better ways you could have gone about the refinace and new loan and still achived the same objective at a cheaper cost.

PM Sent as requested with a few options.

baconballs

There are a few fee free offset accounts floating around but maybe not at the sort of interest rate you are wanting to pay.

Look very careful at the small print with some of the online lenders as refinancing these institutions would have to be one of my business jobs at the moment.

What starts off sounding really encouraging doesnt always turn out that way.

Yes the interest rate would be slightly higher than your standard Professional Package but often it is well worth it to free up capital and move forward with your investing.

Just make sure you dont redraw on your PPOR loan but separate the loans so you can easily identity what is what when it comes to the annual interest time.

mixedup

I dont think it is that important at all however i do think it is opreferable to have the loans separate and not cross collateralised.

Structure is the most important part of the financing exercise.

Only reason you would switch lenders for you future IP's is if you had reached a servcieability limit with one lender or an alternative lender had a considerably better product at the time.

Yes 90% is available depending on where the property is it should be quie doable.