Many do owner builds but LVR is limited to 60%. One lender will 75% and the other will do 80% (or more depending on the strength of the application).

Its all manually entered into the backend. API’s are way too advanced for the industry but its not too far off. The problem is often the lenders don’t have an API themselves to feed the data automatically into vendor (aggregator) softwares.

You will require at least 50% presales maybe more depending on the level of servicing required.

You are actually lucky to be located in Canberra Jaime because Politicians can get the 90% LMI waiver too.

Also add to that list professional athletes and people from the entertainment industry. They too are eligible for 90% no LMI.

Alternatively you can try Citibank at no LMI for 85% LVR.

Temp fencing seems high but its dependent on the duration and size of the fencing required.

Depends on a number of things – if the LVR is at 80% then it is definitely possible but its hard to give a certain response without having all the information at hand.

If the LVR is above 80% then I would say it is extremely unlikely that you can get it across the line.

Other factors come into but LVR is the biggest one.

Talk to Paul from Price Accountants. I am in the process of switching over to him too. Very knowledge property accountant.

You really need to be on the ground in Perth or have someone there to handhold because pockets are moving super quick and cash offers are becoming the norm to certain areas.

You may be able to do it at 95% – you need to go with a lender that doesn’t credit score and and has their own DUA. Suncorp comes to mind but you need to be able to serve well.

……and i’m such a bad painter its not funny. I just wasn’t born with that part of the brain it seems.

I agree with Jacm – especially if you are time poor.

You just need to compare how much you sae versus spending the same time on other activities.

Why are the options just 80% or 95%?

What about 88% and 90% (these are the thresholds where LMI skews)?

Do the numbers on all 4 scenarios and then take it from there.

Depends on the area.

You will not get a valuation covering construction in say Willmot or Albury but will in say St Leonards or Willoughby.

You technically can build in front but it must be the average setback of the houses on either side of the building and this is very rare so the answer would be very close to a “no”.

and the other is their contribution fees for developments which is unbelievable.

Yes but not all lenders will accept this.

An example of this is Westpac and their 50% rent reliant policy – so essentially if the rent is 50% more than your total income than it makes you rent reliant and they do not accept over 80% and take it case by case if its under 80%.

You are looking at max 80% LVR for finance.

Balga has definitely increased in value since Marc 2013 and I reckon it will continue to climb.

1. Do an upfront valuation on the property as most likely you will have equity to tap into.

2. Take out a loan instead of using the cash in your offset.

3. Ensure that the loans and properties are separate and not linked/crossed.

What is the…[Read more]

Hi Anthony,

In that case I cannot see anything stopping the buyers from ascertaining finance but I’m sure the devils in the detail. Talk to a banker or broker and give them all the documentation to assess.

From a high level I cannot see any glaring issues.