Any of the major banks (as they balance sheet lend) will lend you 80% of 'their' valuation. The only reason you would be getting a no, is if you do not have the income to 'service' the loan, or if you are self employed, and do not have the necessary documentation /profit/income to do the same. Without more detail, it is hard to say.

All the best.

The main difference will be on an LOC you will pay nothing until you use the funds – on the loan with 100% offset you will be paying loan repayments still, as soon as the loan draws down! …… it is just that they would all be paying off the principal, rather than interest if you had the same amount 'offset'. . Based on what info you have provided, I cannot see why you would not use an LOC. Remember, once a line of credit type loan (or whatever fancy name the particular lender gives it) if you end up drawing the whole lot eventually, for deposits, repairs whatever, you can always then swap it for a 'standard' loan or offset loan with a lower rate. Bear in mind, if you are a strong negotiator, have plenty of equity, and put in a bit of effort, you will find you may get a line of credit loan for not much mor than a 'normal' loan.
all the best. 

Yes, interest only loans are avialable for owner occupiers and investors. Remember rental you receive (or estimeate of what you will receive) goes towards your assessment as income (approx 80% of it). All the best.

Hi Anrobel,
Visit the ATo website – everything you need is there. I suggest the NAT1729 Rental properties guide (se page 9) and also ther is plenty of other help, rulings, and info on repairs, what is and is not deductable etc. I think you will get a pleasant surprise. All the best.

Congratulations……so what are you waitng for.! g….o for it……..  Here are a couple of suggestions…..
1) Do the 'buy one, two or three' cheaper properties, (don't have to be in Melbourne) spread the risk, (ie maybe buy in different areas) and you will have a few tax concessions and probably not even know you have them…until you enjoy growth in a few years time.
2) alternatively, with the amount of money are are looking at spending, and with what I assume (perhaps wrongly) on your income in your job you possibly do not have a lot of time spare on your hands, perhaps look up someone that is experieinced as a buyers agent in Melboure (a forum contributor, and very knowledgable Michael Yardney would come to mind as someone to have a chat with about this) and get them to get your first one, and enjoy some tax beneifts anf capital growth long term.
All the best.

Hi Get rich,
I guess you could ask how long is a piece of string?
Here is a few questions that should make a difference to your choice of lender. (oh, by the way, brokers don't recommend NAB unless it suits them, sorry to say. (usaully use Homeside – the Nab owned 'competitor' that pays more – Why? Because it is better for you? No….they are the only lender that does not pay a trail commission to the brokers, which of course is not in the interests of a broker now, as wonderful as the theory sounds that they are busy out there 'working to find you the best deal'. )
Of course some do – you just gotta find one.!. A HR manager I know from CBA made the comment to me once that one of the challenges all banks face, is trying to differentiate themselves form the other 'big 4/5 ' lenders, as there core products and rates are close to identical. It is only since the rate rises recently, that these lenders actually have different 'standard' rates.  Essentially all will stick you with fees of some sort, but conversely may suit your lending strategy. While some banks will have an edge from time to time (for example NAB fixed rates, which up until recenlty were way below others, and are still the cheapest or 'equal' cheapest' ) or St.George with their LMI Included' high LVR loans, they have the same products, and offer packages of some sort. There is quite simply no best loan – I will repeat that again – there is quite simply no best loan.
So, ask yourself some of the folowing to decide which way to go.
* Do you envisage a problem securing finance form a bank or 'traditional lender' ?
* Is a cheap rate moreinmportant to you than flexibility and banking?
*Are you self employed?
* Are you planning on selling the property quickly or are you long term?
*Will the loan be interest only?
* Do you already have a relationship with any bank or lender?
* Do you need to ring up someone every second day to discuss things, and have you hand held or are you a set and forget person?
* Are you self employed?
* Have you any prioer credti history issues/defaults?
* Do you want to stay 'local'?
* Do you hate banks or just some of them?
* Is there anyone who you could talk with locally that is either A) A banker/lending manager or A well regarded broker?
* Do you plan to pay more than the mininum repayments (makes a huge difference)?
* COld you benefit from a suite of products like credit cards, atm access, lines of credit, and fee free banking in exchange for an annual fee, or to you just 'want a loan'.?
Are you borrowing more than $250k?

Answer as much of this as you can, and you shoudl be on the way to working out one of the better loans (not the best loan) for YOU!   All the best    

They surely will – but their are two things to watch for that will make it interesting (for want of a better word)
1) Will they use it as an excuse to 'even' their rates again? It is a first for me to have seen the major banks with different rates!
2) While they will likely all be up Friday if not before, keep an eye on the fixed rates. There was almost two weeks last time between the first lender (which bank?) and the last one to raise these last time.

Interesting email from Steve McKnight as the forum host, with his personal view that they will kep gong up to. Hope he's wrong – but sadly I think not.  Hold on!

You just gotta wonder……

Not the type od posts I'm used to here……but while we are at it….if I can address Ed Chan – Ed, I really enjoyed reading your profile in API not that long ago. Just thought you might like to know. (and yes, a very tactful, dare I say professional first forum post under the circumstances    )
Cheers
V8GHia