Your personal debts will certainly go against your serviceability however in saying this there are a few lenders out there offering 100% and more in the way of LVR.

I assume the property you are looking at buying would be an investment property.

Acquisition costs could be your biggest hurdle as stamp duty, legals, Bank application fees and LMI or the equivalent will add up.

Also at that level of LVR bear in mind you are likely to incur some form of deferred establishment fee or early repayment penalty if you pay the loan within the first 3 – 4 years.

Hi Brendan

I think you would be better off to leave the first property in your own personal name given the costs involved especially whilst the property is mortgaged and your liability reduced.

Utilise the available equity as deposit and go again in due course.

Dont forget a fixed rate takes a lot of the panic away over increasing interest rates especially if this is a concern.
Just be careful and ensure that you structure the loan correctly before you fix the rate as any change could be expensive down the track if you need to get out of the loan to access the equity.
 

Hi Pete

Cant talk for Adelaide but in Brissie i use Keith Clarke at Mayfair on 0411 516259.

Keith is actually the Principal of the office and unlike your average Real Estate you tell him the sort of property you are after and he locates.
 
There property management department is excellent so i normally tailor my acqusitions around what they tell me will rent well.

Give him a shout and tell him i sent you. Good luck.

Despite wearing my Financial Planing hat i agree with Tracey.

Most FP's have one thing in mind and that is to guide you into a commission paying Managed Fund and then really dont have any interest in you unless you are regularly contributing or wish to up your Super Contribution.

Those that charge on a fee for service basis have your money up front and then charge for information given during the year.

I believe you are better using the sevices of a Mortgage Broker especially someone who has extensive property and investment knowledge and who does not charge for his time.

MB's get paid by placing your home loan and in the main most lenders pay the same amount of commission. 
A Financial Planner will deal with several companies that pay an overide commission or volume bonus so is hardly independant.

Hi Benn

Regretfully not.
 
As mentioned by Terry one of the strategies is to consider selling the property into a Trust structure borrowing the full valuation and then using the difference between 100% of the valuation and the loan balance to pay down your PPOR.

The entire amount of interest then becomes a deductible expense.

Whilst there is stamp duty payable it depends on a couple of factors as to whether it is a viable transaction but is certainly worth doing the numbers on. 

Hi Freedom

No problems always happy to help.

You will find difficulty with CBA if you are looking at a Lodoc product and using a Unit or Hybrid Trust.

Also whatever they tell you there offset account is not quiet a true 100% offset account.

With most lenders that we deal with you will not pay any more for a construction loan.
CBA the current SVR is currently of 8.67% (You may have asked them after the latest increase last 9 days)  for the variable portion and the CBA 5 Year fixed rate is currently around 8.44% with a $8 / month monthly fee.

I believe with alterantive lenders we could do considerably better than that.

Let me know if we can assist.

As Terry mentioned certainly do not pay into the loan as the interest on each redraw for personal use will not be tax deductible and you will be comitting Accounting suicide.

Obviously if you still have a mortgage on your PPOR then attach the 100% offset account to this loan and if not link it to you IP.

Prop

Yes i would get a current independant valuation from a registered valuer.

Certainly the costs of the valuation should come off the sale price.

Hi Prop

Unless you can find an SA lender to lend to an overseas resident i think you will struggle.
Dont think you would find an Australian Private Lender to advance funds for overseas property (I know we wouldnt).

No not my area of expertise but in saying this i have purchased partners out of a couple of companies before and this is not disimilar. IMHO i would suggest you obtain say 2 independant valuations and then deduct the normal selling costs i.e agents, legals etc and divide the net balance by the number beneficiaries. 

You may apply some form of weighting to mean those beneficiaries that sill own the property can buy out the other parties share at a discounted price as they are holding for the long term.

I guess it all boils down to what someone is prepared to accept to transfer over their share.

Hi Shaun

Firstly welcome to the site and i hope you enjoy your time here.

I have to be honest if any Mortgage Broker tells you to increase your investment loan to as much as possible and use the funds to buy your residential home then i would run a mile and change Brokers immediately as the ATO will have you on toast.

There are a couple of strategies we use for our clients in the same position however these are very client specific and not for everyone. I would need a bit more personal detail before any recommendations.

On a separate note i think you can do a lot better  than have a LOC on your investment loan especially when at the moment you have no other debt (I am keeping my fingers crossed you have not used this as a transactional account and had your income or rent paid into this account and then redrawn it out for personal expenditure)

If you want to email me some details I would be happy to assist further.