Forum Replies Created
Adam
Always a pleasure and i must admit i am getting rather partial to Mango frappes.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Simon
I am the same as you. I recon it is less than 10% these days.
Can’t drink coffee alone.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Full doc loans where appraisal is paid up front we are ready in around 21-28 days
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Not really most of these blocks come up and you are able to sign subject to finance.
Just need to get everything else in place.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Total loan costs are around $995 USD.
In addition there will be a 3rd party fee for appraisal, Title and Attorney Fees and in NY State Mortgage Tax.
All in all still makes the purchase well worth it.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Juststartingout
I think you could a lot better in customer service, product and overall package with someone other than BW.
Better to miss out on this property and get it right from the start so it will not have an effect on other future purchases.
I promise you not all mortgage brokers eminate from hell.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
If it is a Commecial property i think it would be easier to go for a traditional style loan rather then Private Finance.
Private investors don’t alwlays understand Commercial Lending and tend to be a little LVR shy.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Borg would need a few more details but happy to assist if i can.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
If you decide to buy with a friend i would suggest you purchase as Tenants in Common.
As Terry points out why would you go for private finance as a traditional style loan would be just as available and a lot cheaper all round.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
i can go upto 85% no LMI but slightly higher rate than that.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Terry funnily spoke to them this afternoon on a 8 pack in Brissie here and they were adamant at State Level (and the State Manager is my squash partner) they wouldnt do more than 4 residentially.
For a full doc deal you are looking at around 7.10% fixed for say 3 years.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Hi Borg
No lender will consider more than 4 units on the same title as a residential loan.
Although in saying this many Commercial Loans we do are done at very attractive interest rates dependant on the rest of the deal.
Hard to offer more advice with further information.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
I think both Steve and Terry’s points are relevant and comprehensive.
Remember for most Banking lenders you will be up for MI for loans over 60% and this cost needs to be added into the equasion.
This premium will vary between lenders.
Also if you intend to purchase multiple properties consider that you may easily use up your loan limit with the Mortgage Insurer and be forced to switch lenders anyway.
Explain to your broker what you want now and in the future so he can tailor a product to suit your changing needs.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
4-6 weeks my they must improved their service levels recently then.
I would be dropping BW and moving on. With the right Bank conditional approval will take a matter of days only.
I did a loan last Saturday afternoon for an interstate client and the mortgage documents were sent out this Tuesday. it all boils down to the Broker and their relationship with a lender.
Make sure you set yourself up properly in the first place otherwise you will spend the next few years regretting your choice of lenders and will cost to undo everything and start again.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
I am with Simon on the basis that the property is in a location which is satisfactory for LMI i can’t see any real problem.
The fact that you have transferred Interstate for new employment (subject to not being on a probationary period) should not have much of a bearing on the application as i assume it was a move to improve your income.
Best thing is to get an independant Broker to crunch the numbers properly for you as where there is a will there is a way.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Colin is correct buying and selling in a SMSF brings with it a whole new set of rules and regulation. You as the Trustee are responsible for the investment decisions of the fund and if ill thought or irresponsible are liabile for the consequences.
I purchase both shares and property in my SMSF for the benefit of the franking credit on shares and the lower CGT on the sale of the property.
Running your Super Fund can give you greater freedom and flexibility when it comes with investment choice but it also brings greater responsibility and compliance.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Thanks Steve for the referal.
Yes thornbirds there are many barriers to FN loans in the US but having been involved in US funding for over 20 years think we can find our way around most problems. Happy to assist you with any questions you may have.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
As Terry stated “Future Investment is always a good one.
Alternatively if it is a LOC to 90% then there will be no purpose yet just getting your affiars in order ready to strike when an opportunity arises.
If they cause you problems switch lenders.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Nothing
Excel designed program
Excel designed programRichard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
I am with Terry.
If you have sufficient income to show serviceability through your OTE yo8u should be able to easily obtain finance.
Alternatively as Terry mentions a Nodoc or Lodoc loan might be the solution.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
