Forum Replies Created
Marty
i think you were asking the wrong bank.
I have financed several proeprties over the last week or so which were less than 50 Sq M and have got 95% & today 100% finance for a client.
Most lenders dont like it if the property is inner city and a studio type set up or if it is in rental pool or has to be let.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Hi Robert
Would you like to post the copy of the email you got from the Homeside BDM showing us the interest rate quoted.
I am a sceptic but am always happy to be proved wrong.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Eagleby is certainly in the Gold Coast corridor and in Albert Shire.
Upto a couple of years ago you could easily purchase a property for less than $85K and property wouldn’t have wanted to anyway.
Now a days prices have doubled and in February Eagly recorded its first sale over $250K.
There are still plenty of areas of Eagleby I wouldn’t buy as the crime rate is high and the type of tenant you get maybe dubious.
Talk to a couple of good real estate agents covering the area. Can recommend Professional at Beenleigh.
If you get that far and need a lawyer in the area with maximum experience in conveyancing PM or email me.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Lea
Think many of the concerns have been covered.
Do you have a good Property Manager in the area?
Someone who knows the area has worked it for many years. If these tenants leave how easy is it to quickly relet.The property is sound – have you had a building inspection on it?
If everything checks out ok go for it girl.
Remember as TPP said ignore friends who are jealous and try and put you off. Be firm in your committment its you decision at the end of the day.Think in 5 years time when you have 50 properties under your belt and they are still in rented accomadation. Then they will have something to be jealous about.
Good luck.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Not a matter of out performing anyone.
Robert and I just dont believe you.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
According to my Homeside interest rates the Peak perfromance product 7.47% <150K & 7.27% >150K.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
And me a dictionary “Buy”
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Heh Terry
Remind to by you a Qld map for Xmas.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Terry
Bang on the tenancy laws mean that a lease option is not the way to go in sunny Qld.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Groms
I never said it was illegal in Qld all i said it was fraud not to advise the Bank.
It is not the Bank’s responsibility to find out it is your responsibilty to disclose when you apply for the loan. I assume that you will be offering the Bank a complete copy of the Sale Contract and relevant Annexures and not ommitting a page or 2.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
I am assuming that your income allows you to service the loan so if this is the case i can’t see why a Lodoc loan would be required.
Rams recently released a product which maybe of interest to you. Or alternatively try St George or CBA.
If i have missed the concept of your post why not consider arranging 80% standalone lodoc on your new property and 20% standalone lodoc on your mothers. Again assume her property is unencumbered.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Hi winterpeg
Are you referring to purchasing a development property in Oz or in the US.
If in Oz what questions do you need answered.Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Hi batts
Our Qld Wrap Cd includes both an actual Installment contract and complete License to Occupy Contract. (You won’t do a Lease Option in Qld.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
bloody wonderful.
Oh to be a developer in SE Qld at the moment.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Heh Robert
Do you really mean that there are people out there who get you to do all of of the work then go off and approach the lender themselves direct.
When it all goes pear shaped come and balame you and give you 48 hours to sort out there mess. When you can’t perform the miracle in time blame the mortgage broker industry and tell their friends don’t deal with that guy.
And i thought it was just wrappers who had to put up with that.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
This topic is surely being over done.
Robert has quiet righly pointed out to all of us and I agree with him totally to increase the price of a property on paper (whether the cheque is made payable to you, your solicitors or your neighbours dog) and then receive a rebate or kickback or call it whatever you will without informing the lender is a simple act of mortgage fraud.
NO Solicitor who wants to retain his license and avoid prosecution would assist you in the preparation of such document.
Can we just leave it at that. Fraud is Fraud and why become a party to is unless you are looking to spend time at her majesty’s pleasure.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Having purchased several properties in the US over the last 5 years I am working on a new finance facility where Aussie buyers will be able to purchase a US Investment property and repay their loan repayments in Aus $ rather than US #.
Just a few complication with my US Bankers to iron out and i will post the details here.
Will be back over in the US at the end of the month and would be interested to gauge the initial response.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
The new RAMS product may also have a bit of mileage.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
I am with Robert on this one.
To undertake the practice of having a rebate may not be ilegal however not to disclose it to your financier would certainly be an act of mortgage fraud.
As Robert mentions why not boorow 90% and disclose to the lender that your Vendor is offering 10% vendor finance.
As long as you can show income to service the total indebtedness then you would have no problem.
Whilst the practise is common in Qld i cannot beleive that a respectful firm like Deacons would assit you in drawing up the clause knowing it was not going to be fully disclosed.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
Amy i would go back and ask the question does the wrap pack include a sample installment contract and documentation. I have a feeling i now the answer.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
