Hi Coogee,

Going back to the original question….
A few things about your opening post.

1. Trust will actually reduce your borrowing capacity ( as you cant use negative gearing) – but def a vehicle for asset protection/ income diversification and land tax etc..

2. The good old “foreign” investment trick is a fraud in most cases…pretty much…[Read more]

Being a doctor you will have access to special commercial loans; via the big 4 banks.

LVR: 75-80%
Term: Up to 15-20 years possible with 3-5 years i/o
Rate: Sub 5.20% Variable or fixed from 4.85% for 3 years

Security guarantor can be provided by parents/siblings/ uncle/ friends sand even 3rd party—ie no relationship at all! as long as they are happy to sign and provide…

In fact the bank can come on as 2nd mortgagee as well…so does’t matter to much which lender your Security guarantor is with.

Normal rate.

IN Aus you can get 10 and 15 years fixed rate with the big banks..it’s just not common…in fact i think i have only ever written ONE 15 years fixed rate and it was for a non-resident as well.

With a loan of $900 under 80% you will find most borrowers will be on 4.44- 4.54% after rba cut..
once your loan goes >$1.5M it be 4.34- 4.44.

all with 100% offset ( not ness a portfolio loan as such) and not your online banks…but big- med size banks.

^ Richard nailed it on the head!
It comes down to “order of lender based on your situation” and choosing the right loan structure/lenders.

With the banning of exit fee….trail books are selling on average 1.3x the annual return

Commercial bank valuations will depend on a lot of factors ( you really need to neg and shop around too)
– Lender
– Type of commercial ( Specialized/ one shop/ multiple shops/ office/ retail/ warehouse etc..)
– Cost of the transaction/purchase
– Location
– Construction or existing property

Generally bank commercial valuation can range from…[Read more]

1. Claim % of ownership and usage
2. if you claim IP % split…than yes you will need to pay part Capital gain tax when you sell as well

So balance out the options…def sit down with an accountant and work with the 4-5 different scenario and work out which one has the best outcome for your situation.

1. Mother guarantor and use her PPOR to pay 0% deposit and put savings into offset account for further IP — I would only recommend this way if literally have no money/savings….as you can leverage the full 20%. The risk for your mother is not something i would want on anybody else if your mother is no longer working etc…her security is tired…[Read more]

There’s 2 FHOG in NSW still current as of today.

1. $15,000 cash grant for new proprieties ( can be completed just never sold), off the plan, vacant land ( lay foundation within 12 month of settlement) – till Jan 2016…

After Jan 2016 it drops to $10k

2. Second grant is the Stamp duty waiver or reduction for first home buyers buying vacant…[Read more]

Hi Phil.

1. Smaller apartments under 40 sq meters generally requires a higher deposit – 30-40% in some cases, depending on the location…so this is one reason why it may sit on the market for a long time as really it’s targeted for cash up experienced investors.

2. Rental yield is important but Capital growth is equally if not more important…[Read more]

If your want to stick with CBA, if they ask for proof for a 60k cash out…it sounds like your serviceability will pass their calculation but it’s weak…ie low-average income.

If you wanted to stay with CBA, consider a lower cash out and than increase it later when you find a place…not idea but not much you an do now if the credit assessor has…[Read more]

A few reasons…you really need to work with the banks policy and plan rather than aimless apply for the loans/LOC

1. If you go past 80-85% LVR ( ie your 90%) the use of funds MUST be proven either form
– Sale contract
– Letter from accountant/ financial adviser
– Quote for renovations etc..

At over 80-85% your limited to Max 20% of the…[Read more]

Maternity leave is ok, are you still on paid maternity leave? if not than we will have to rely on your husbands income which is fine but it will come down to how his “contract is set up as”

1. Contract as a PAYG still
2. Contract has a self employed via a ABN

+ How long is the contract for – 3,6,12 month etc..

I have a feeling the property you…[Read more]

^ Disregard my last post…read the OP post again….not bankruptcy but recent defaults on file…diff story.

Discharged bankruptcy over 2 years is ok with standard banks- ie CBA, Westpac, ANZ, ING etc…at standard rates < 5% and term – just need 20% deposit + good history for the last 2 years. A minimum of 24 months clear record since being discharged from Bankruptcy or Part X Arrangement.

Never presume.

But if your file is still pretty bad but yes…[Read more]

It’s possible but requires a few years of planning on the right loans and buy structure, lender and most importantly pre-planning…not something you can do off the bat.

Most of our flip clients who’s doing this now full time ( flipping 2-3 properties per year ) had to go through a 12-18+ month planning stage. As the only way to get this across…[Read more]

Job wise it’s fine as you have been there for 12 month min.
But you might need a larger deposit, as it needs to cover the stamp duty an other standard buying cost as well.

1. Find lender with DUA with Genworth ( the other LMI provider) OR an internal LMI provider …ie not QBE — This option you still only really have a medium size chance of approval as you been rejected by QBE previously and Genworth will always ask ” have you been rejected by a LMI provider in the last 12 month” so your file needs to be…[Read more]