ruffa37 replied to the topic Loan structure help needed! in the forum Help Needed! 11 years, 9 months ago
Few updates:
Our offer of $445K got accepted. I went back to NAB and clarified the loan situation. We don't have to sell a property and we are able to service loan up to $570K. NAB ordered a valuation of current PPOR and came back at 430K ( driveby ). Another lender did a valuation today and went in, came back at 470K. With the top up for the 2…[Read more]
ruffa37 replied to the topic Loan structure help needed! in the forum Help Needed! 11 years, 9 months ago
Free valuations ordered this week came up at the following.
PPOR- 450K
IP1- 350K
IP 2- 420Kruffa37 replied to the topic Loan structure help needed! in the forum Help Needed! 11 years, 9 months ago
… and yes all loans are standalone. Thanks again.
ruffa37 replied to the topic Loan structure help needed! in the forum Help Needed! 11 years, 9 months ago
Checking the loan documents now, we paid LMI on IP 2 purchased in 2010. Thanks again.
ruffa37 replied to the topic Loan structure help needed! in the forum Help Needed! 11 years, 9 months ago
All loans are with NAB choice package at variable of 5.68 % with the discount. We went back to them, couple of weeks ago and would not lend without selling one of the properties. Refinancing at 4.99 % hopefully for positive gearing. IP#2 at 400 per week and current PPOR modest estimate of 430 per week. IP# 1 is renting at 355 per week. We don't…[Read more]
ruffa37 replied to the topic Loan structure help needed! in the forum Help Needed! 11 years, 9 months ago
Thanks also Jamie. Definitely a starting point of my discussion with my accountant before I proceed with this.
ruffa37 replied to the topic Loan structure help needed! in the forum Help Needed! 11 years, 9 months ago
Thanks a lot Shahin. I am looking at Citibank at the moment for their 85% LVR with no LMI for the new PPOR and possibly Homeside for the 2 IPs and the current PPOR soon to be IP. Any suggestions for lenders? Thanks again.
ruffa37 replied to the topic Help 1st IP cross coll with PPOR in the forum Help Needed! 15 years, 3 months ago
Thanks Richard! Your response made it all clear to me now. I have another broker who suggested a standalone for the IP and doing exactly what you said. Although the 1st broker has invested so much time on us already and I don’t know what to tell her now, I think I’ll go for the other broker who I think is giving us a better deal. I’m just gonna…[Read more]