Forum Replies Created
Hi Danii
Firstly welcome to the forum and i hope you enjoy your time with us.
In regards to the documentation required it will be more likely be what your likely financier will require rather than what Centrelink will need.
Of course in saying this depending on the loan to valuation/ amount of deposit you have you not find too many lenders will take your Careers pension into consideration.
Without knowing all of the details it is difficult to comment but you might better with a rent to buy style loan or similar.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi HF
Welcome to the forum and i hope you enjoy your time with us.
As Jamie has mentioned the impact of the National Consumer Credit legislation will have most lenders and mortgage insurers running for the hills given your age and circumstances (by the way for it is worth i am sorry to read about your situation) and if you can keep the loan at <80% it will certainly be a lot easier.
To aid the situation a blended loan might be an option although of course it will come at a higher.
It would mean a traditional style loan for 80% of the purchase price which you might do on an interest only basis on say a fixed rate and then the balance at a higher rate by way of a second mortgage.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Depending on a couple of factors you might even find the odd lender who will pay out your personal loan and provide funds for renovation. Did one very similarly for a forum member last week.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Elives
Not sure which US books you have been reading but loans cannot be transferred in Australia.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi NM
As discussed on the phone yesterday there are many suburbs i am putting my forum clients into that give excellent opportunity for capital growth as well as hhealthy rental returns .
Unlike Nigel i believe you can go further out than 5-6 kms and still get good opportunity and that is starting to reflect in rage valuations we are seeing come back.
Exciting ttimes ahead.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Would always be slightly cautious of Wikipedia .
We were out researching some areas for a forum client who was using our Buyers Agents service and found the actual towns population compared to good old Wik was more than a few thousand out.
Like anything check and then double check.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi NM
Upper Kedron or Keppara not that much difference between the two.
Must admit strange suburb for someone in VIc to invest in .
Can i ask you what made you choose the area as it certainly wouldn’t be anywhere we would put any of our Vic clients into or i would personally buy into myself adding to portfolio.
Nice tree line suburb but nothing really going for it.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Yes Tanner is on the other side of the highway to Indooroopilly and sits underneath Mt Cootha.
We are on half an acre so a nice sized block.
I know Toowong very well and own a couple of block of units in both Toowong and Taringa (You can read my API interview on a recent Toowong development in the Feburary 2013 edition). I have owned the properties since 2002 and out of the 24 properties can count the number of days we have had them vacant.
Always a good supply of quality Tenants with UQ being on the doorstep.
In saying that it all depends on your anticipated purchase price. We are putting clients into a variety of quality areas both in Qld, NSW and Vic depending on the clients requirements.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
I look at it as the same as my industry.
A lot of Brokers charge for their services and yet i don't.
Don't have an issue as long as it is declared up front and the client is aware and is happy to proceed.
Of course if you were had two options and one of the tradesman charged and the other didn't you can probably guess with whom most clients would go with.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Tanner lived in Brisbane for nearly 17 years and no floods in Chapel Hill.
If you deal with someone who knows the area and carry out the right due diligence then you wont be buying in a flood area.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Sad old sight over the Terry.
Maximum LVR 85% if you are lucky (odd exception where builders are trying to subsidise 10% on their own stock etc) and interest only loans almost a thing of the past.
Simple lending formula of 3 x main income + 1 x secondary for borrowing and even with housing rates at 2.5% – 3.75% things still can get moving.
For expats forget only 1 lender left interested in lending and maximum 65% lvr in selected parts of SE England only. Regretfully non resident is 2% higher so circa 5.5%.
Still i guess when house prices in the main are a lot cheaper there than in Oz at 5.5% it doesn't look too bad.
Certainly with plenty of cash some cracking deals around.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Tanner
Firstly welcome to the forum and i hope you enjoy your time with us.
Spent last week finishing of the exams for my full Real Estate License which will help with our new Buyers Agency arm.
Funnily enough i sat next to a guy who worked the Surfers Paradise area and he spent most of the telling me about the area.
Further falling values, diminishing rents and vacancies everywhere was his take on the area and he had worked the area the good and the bad times.
Anyone who invests in the GC is catching a falling knife and certainly would never put one of my clients into the area especially if they wanted to build their portfolio.
Just because the prices are cheap doesn't mean they are going to increase in value.
There are plenty of areas where we put our clients into with cheap prices which have the drivers to encourage capital growth over time and in the meantime enjoy good cash flow meaning the investor can buy again and increase his portfolio.
My opinion steer well clear.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Ryan and boys hate to say that is proprietary information and is why JacM charges for her services.
Nothing in this world is free and i would certainly not expect her to spill here secrets on a public forum.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Yes PG that's exactly right.
Just went to Contract on my first Commercial investment this afternoon being 6 shops, bit of resi and some vacant land for storage sheds and was offered a very good com rate by my Bank.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Yes if it is anything like the UK there wont be anything like interest only loans in 10 years.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Taylor
As Corey said on the LVR but there are some attractive Commercial rates around at the moment especially on the fixed rate front which are down to the low residential rates.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
I agree why not post it for free and we can all benefit.
Steve provides the site for the benefit of all and not for members to make a quick quid.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
CGT is based on Contract date and not settlement date.
Also whether you can bring the settlement forward will depend on the co-operation of the seller who will need to agree to it.
He might be in the same boat.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Jack
Yes and he is a good lad to boot as well as being a bloody good accountant.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Jay
Which State is the property in ?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
