Hi Brendan. I'm a bit out of touch now with some of the various lenders, but CBA and NAB also come to mind as being ok with acreage. That said, most lenders will watn at least a 10% deposit, if not 20%

They are much harder to sell these rural properties, thus why lenders require higher deposits if they ofer finance at all. (some won't look at anything over 20025 acres)
Cheers

Hi goodenergy. Please remember that while being creative can pay off, unless you get a no doc loan, which are few anf fare betwen now competitively, you will need a lo doc one, which means in most cases you have to declare an income to 'service' the loan (although rental income counts of course) and that you are self employed. Some people call them 'lie docs' for that reason I guess. Be careful you do not leave yourself with a loan that can't be paid due to unforseen circumstances.
As a sidepoint, you may have some difficulties with some areas (postcode restrictions) as on this type of loan lenders mortgage insurance applies, and this can restrict the area you purchase somewhat. Probably no need to rush into anything at present – there does not appear to be too many areas booming price wise. But definately being ready to act when you find something is a good idea. Congratulations on where you are at property wise too – some great equity there, and a very low debt level.
All the best.

Allianz have a very comprehensive policy, although there are cheaper. Our of 10 if 10 was the most expensive, Allianz would be a 3 – Terri Scheer would be a 9 or 10. They do have some extras, but in all fairness, you wonder how much of it you need. I may consider Allianz next time myself, but I will compare the features with my current stuff (use NRMA and AAMI at present)

Make sure you have building, contents included (ie blinds, carpet etc) and landlord policy all together.

Cheers.

Hi there pagey – welcome to the forum. Just wonder…why are you thinking of selling? Do you mean you will walk away with $150k? You could keep your current property and access 80 or even 90 % of this equity easily if you can 'service' another loan. Once you sell, it is no longer equity – just 'cash'. Don't rush into anything. You will be able to make another/the next step regardless of whether you sell or not I'm sure. See if you can find a property savvy banker of broker in your area (yes, they are few and far between nowadays) for a chat. All the best. If youneed any more specifics or a 'scenario' just post – someone will help out woth some various options . all the best.

If you keep an eye on fixed rates, with both banks and non banks (much more $$ now) that gives you a reasonable idea of how the 'experts' feel rates are going to go.  It's hard to imagine them going more than another 50 basis points before the market stalls and the repair work begins. In my humbel opinion, they should be left alone for the rest of the year, but hey….?

hi Hybrid.  Sorry to hear. Valuations may be getting done a bit on the conservative side it may seem, and yes there will be differences between some lenders/valuers, although usually not that major.
What you may not be aware of, is that some similar properties nearby may have sold cheaply, or been 'firesaled'. It always amuses me when people say, 'I just got this great $500k property for $400k!. ' Unfortunately, unless you sell for $500k or hold for long term, it is only worth $400k, because that is all you paid for it, and that is how most valuers justify their figures – base purely on comparable sales.
THat said, a second opinion , whether via another lender, or an independant val (ie paid valuation, not apprasiel from an agent)surely will not hurt. All the best.

Yup, you can use the funds in a term deposit sometimes as security no drama, although I must confess I am not sure how many do it for a fixed IR loan. more importantly, you should get some insurance NOW if that is you on the bike……..

Ahh – nothing like a 'cleansing 240v' to get the blood circulating!   unless you are of very poor health, cop a beauty (more than 240v ;or some serious current, rather than voltage) or a complete klutz don't worry – I'm sure your boy will be fine. Give him some encouragement, and look forward to discounted electrical work at home or on theos IP's. 

Hi annie Q – and welcome to the forum. it's funny that reading a contract like that is certainly enough to put anyone off that's for sure. Some contracts are worse than that – ie 'we can cancel it anytime we feel like' – and 'we reserve the right to review annually and cancel the facility ….' come to mind.
That said lets go one step at a time.
Firstly, if a loan product is considered an investment product (in other words, more than 50%of the funds are not for personal use) it is not covered under the UCCC. A line of credit, or an interest only loan is viewed by some lenders as being in the catagory regardless – however any loan to buy an investment property is not covered under the UCCC – so don't be too alarmed there.
As far as the contract goes, I remeber many years ago a bank manager telling me ' you shoudl get legal advice on this contract'. my reply…'so if I find somthing I don't like, I can change it then ?' His response. "you are more than wlecome to do what you want, but oif you don't like it or want to change it , essentailly it means we don't lend you the money.' Sad but true.

That is not a bad package at all, (there are plenty worse!) so as long as you are getting a few different loans, and use it to the full, I'm sure you will find it works for keeping your investment borrowing costs down. All the best.

Re the above, I know in NSW that you will not lose the FHOG if you buy an investment property prior, as long as you don't live in it – I imagine it would be the same elswhere but would pay to check on the govt website.
There has been some confusion over this however.

As far as your savings and income goes….the world is your oyster. WHy not try something a litlle conservative, get some 'runs on the board' as it were, and enjoy the journey.  Good on you for making a start too – remeber – one of the worst things you can do is nothing. Also remember, that unless you find an independant (rarity) financial advisor or someone qualified to give specific advice on property (I don't mean loan structuring or helpful advice…but specific planning) you will find most financial planners are not qualified to give specific direct peoprty advice, or can only provide it when it is of a general nature.

And…all the best. !