Forum Replies Created
Think you may find a lot of her inspiration came from Dolf Du Roos.
He certainly now has an admiration for her success in assisting woman realise there goals
Cheers Richard
Ph: (07) 3720 1888
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http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Simon is right you could ask a dozen brokers and get a varying number of answers.
Remember the lowest interest rate in not necessarily the best deal for you. A good broker wil take into consideration you goals and aims for the future as well as you income and spending pattern.
I think what brokers get a little fed up with especially with some of the development and commercial deals i do is when you get the letter of offer out after weeks of work and the client goes back to his original Bank (who had declined him at first) and they agree after all to match the deal.
Why not post the brieft scenario on here and let us comment. Dont include personal information.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Hi gattaga,
You dont mention whether you are a first time buyer or not but on the assumption that you are you may qualify for a 100% or 106% loan.
If you have the serviceability then the interest rates are not too bad. An alternative would be a personal loan / crdit card for the deposit and then go for a 90/10 loan.
Another option is to see if the vendor is interested in leaving say 7% or so in the deal and you paying him a higher rate of interest than he could get on term deposit.
Unlikely as you say that you are purchasing it at below valuation but worth a try.
Email me if you want further help.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Luke
Glad to hear you survived the flight and made it to the land of the white cloud.
Hear from you when you get back with all the deals.
If you get chance try and ring Westan or Alvin in Invercargill they are always great for advise and assistance.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Cata would have more experience than me but every Trust I have been involved in has provisions for changes in the Deed by way of a minute.
What happens when you have more kids.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Carol
Also bear in mind that wraps in SA are a no no.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Hi Bear
Paul is right if you have limited capital you will be severally restricted on the number of wraps you can undertake.
I guess when we started in 1996 we were lucky that there was 3 of us in the business with very good equity in properties and the Banks were accomadating in getting it off the ground.
90% or even 95% + is available and will reduce the amount of deposit you will require and stretch the equity that much further to make it a profitable business.
Feel free to email me if you need any particular wrapping questions answered.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Hi Jim
Firsly welcome to the forum and I am immediately very jealous of you living in the wine capital of the world.
You mention that debt serviceability is a problem but then you are looking at purchasing an income producing asset in a share portfolio.
The portfolio will I assume be a mix of shares which are likely to offer a dividend and the added option to increase income by looking at options.
Given this you would probably qualify for a NODOC loan where income & asset evidence are not required or alternatively a Lodoc loan where evidence of income is not necessary.
The post code and security maybe an issue with certain lenders.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
1 bedroom unit in a serviced block is an interesting financing proposition.
Many lenders will not touch them full stop however other vary between 50/80% depending on the size of the unit.
I have just financed 2 up at Bargara and we got 70% LVR on both of these.
I guess the question is if you can afford to put the 30% odd of equity in you will probably receive an above average return.
As long as you do not feel the funds could have been invested better elsewhere then go for and take your due diligence to the next level.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
NO
It will not have been done.
Anz won’t even lend on NZ property here in Oz.Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
We deal with both lenders at National level with our wrapping business and I think someone may have confused you.
NAB and ANZ Bank will not lend here in Oz taking a Japanese property as security or vice Versa.
They may well have set up a LOC in either Country for the purposes of purchasing in another but certainly will never take the security in one and the loan in another.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
C2
Yes both the Anz and NAB have representation in Japan but neither of them will take Japanese security into consideration for lending in Oz or the Australian security into consideration when you are seeking a loan in Japan.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Paula
Which State are you in looking at doing this in?
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Steven is right with certain exceptions Australian lenders won’t lend against overseas security.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Hi Misty
Development finance is a specialist area and whilst a lot of lenders offer it it requires putting the application together in such a manner to make it attractive enough for the lender.
Usually, lenders will go to 65% / 75% of end valuation subject to this not exceeding 80% / 90% of cost price.
There are course always exceptions to this and that what makes the type of funding exciting.
Experience plays a big factor in convincing a lender as well as an exit stategy. Pre-sales certainly help in todays market place.
If you would like me to take a close look at the figures please feel free to email me.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Simon
I believe it is Latin.
Sorry can’t be much more help I only did it at school because the teacher was only about 8 years older than me and blonde.Failed miserably.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
With 184 properties under our belt as a Company I could share many many a similar story with you.
I have literally dozens of letters from clients thanking us for our help over the last 11 years and telling us that they would have never got onto the property ladder without us.
2 reposessions in 11 years isn’t bad.
Its about communication with your wrappee and being fair in the is world. I would never buy a property and wrap it if the wrappee was not aware of exactly what we had paid for the property.
In fact as i have stated before only wrap proeprties where the wrappee finds the home and brings the deal to us.
I guess it helps having a large network of professional introducers referring deals to us whi in turn have good relationships with their clients.
Wrapping certainly isn’t dead in Qld.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
National Australian Bank has cut its three-fixed home loan rate by 36 basis points to 6.47%.
The move makes it the lowest rate offered by a Bank.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
The Qlds rules are as follows:
1) If the value of the work is $6600 or more then you are required to hold an Owner Builder’s permit.
2) If the value of the work is $11,000 or more then you are required to undertake an Owner
Builder’s course.The course must be completed by someone shown on the title of the property.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Both companies offer a post code listing advising whether they cover the area.
However in saying this the policy of the lender may differ from the policy of the mortgage insurer. Also each lender has different terms with the MI and therefore the rates vary from lender to lender.
If you want to email me a post code I can have a look for you.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
