I agree with Richard. Sounds like a lazy banker!

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Stu

What bank is it?

Most banks will actually want you to refinance to another lender before giving the refund. Stupid, I know but thats their policy.

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Stu

https://www.propertyinvesting.com/forum/topic/20444.html

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Stu

This is a really common experience. Bank staff rarely know their own products or policies. Sometimes they say ‘yes’ and then you lodge an application and then they say ‘no’. Should you expect more? Of course. Will you find a lender that always knows the answers? Unlikely. Why wouldn’t you speak with a broker? A good broker will be able to give you…[Read more]

These guys will do up to 85% for commercial – http://www.globalcapital.com.au/Products/Property/Term%20Loans/High%20LVR.html

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Stu

Some lenders will take this into account… you would have to have two year history to support future bonuses. e.g. if you have received a $10k bonus every year for the last 3 years then its likely that they will include this income.

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Stu

Vinny, there are unprofessional people in every field. This mortgage broker obviously has no idea. It’s up to the industry to lift the bar. There are some good brokers on this site so if you are ever going to speak with a broker I would call one from this site. Terry, Simon (Mortgage Hunter) and Steven (Mobile Mortgage) are long time contributors…[Read more]

C2, Can you explain how you might be able to use these for property investment at a retail level?

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Stu

Welcome to the forum Nehal.

Firstly, you would have to have enough income to service the loan.

Secondly, the LVR would be restricted to 70%/75% depending on the security (therefore, total property worth at least $7.4 million).

Maybe provide more details. You are more likely to get better quality answers.

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Stu

Thanks for the feedback jhopper.

Link doesn’t work because there’s a full stop behind it.

Try: http://www.prosolution.com.au/articles/structure3.pdf

More articles at: http://www.prosolution.com.au/free_articles/articles.php

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Stu

That is juts laughable. It’s almost hard to believe.

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Stu

I think you sould read the following article which discusses this scenario…

http://www.prosolution.com.au/articles/trading.pdf

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Stu

Thanks Linar.

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Stu

ET come home… welcome to the forum ET.

The bank will confirm (via valuation) that the value of the property will be equal to the current land value plus the construction cost ($275K + $250k = $525k).They will then lend up to 95% of this amount (i.e. 95% of $525k). They will not lend against actual value (say $550k) until the construction is…[Read more]

Finance… surely its something you would have worked out before you started pre-selling property??? Surely!!!

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Stu

Maybe you can give us an example how this could help?

I don’t see the connection between tax “benefits” and expensive finance. Sure you can get a deduction for expensive financing costs but that doesn’t make it worthwhile. At the end of the day, its still money out of your pocket.

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Stu

I have never heard of this either – just use a different lender.

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Stu

Hi Jenny

In my opinion, any insurance is not about the lowest cost or rebates. It’s about getting the best value for money. There’s a lot to take into account when selecting an insurer, particularly in terms of their policy. Comparing price may not be comparing apples with apples. I suggest you see a licensed and reputable financial planner.

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Stu

I find that NAB is best for owner builders.

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Stu

I have it in my notes that Adelaide Bank will consider 5 units on one title @ 80%. Westpac and NAB may also do it.

Cheers

Stu