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Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of plastusplastus
    Member
    @plastus
    Join Date: 2003
    Post Count: 4
    July 3, 2005 - 10:51 am

    Hi there we have just settled on our 9th property. But the financier have informed as that he will not be lending us any more. we have been using our equity for 20% deposits and financing the rest. can any one tell us are we doing any thing wrong.? As well can any one recommend a good finance broker that are strait to the point and are very professional. Any way we live in Sydney. Thank you [baaa]

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493
    July 3, 2005 - 4:49 pm

    Lenders have maximum exposure limits in place to cap their risk with any single client. These kick in for many different reasons but usually apply when the dollar amount gets too high. Other reasons may include type or location of your property investments are too restrictive or, most commonly, your serviceability is no longer evident if you have been buying some negatively geared propertes.

    TMA

    http://www.email4money.info
    Essential Links
    First Home Buyer Website

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    July 4, 2005 - 1:54 am

    Just try a different lender.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    July 4, 2005 - 8:39 am

    Hi Plastus,
    Your current lender may unwittingly be doing you a favor, especially if all your loans are with the one lender, spreading your level of debt amongst multiple lenders is fine.

    Now would be a good time to have the incoming mortgage broker assess current loans & future goals and structure future borrowing accordingly, rather than applying a short-term band aid solution for the next purchase, Cheers.

    Regards
    Steven Crane
    Mortgage Broker

    Mobile Mortgage Market
    Ph: 0402 483 216
    [email protected]
    http://www.mobilemortgagemarket.com.au

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of plastusplastus
    Member
    @plastus
    Join Date: 2003
    Post Count: 4
    July 4, 2005 - 11:41 am

    Thank you for the advise it is being very appreciated thank you.

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493
    July 4, 2005 - 2:01 pm

    Before trying for more finance, look closely at your serviceability. You do not want unsuccessful hits appearing on your credit history.

    TMA

    http://www.email4money.info
    Essential Links
    First Home Buyer Website

    Profile photo of angelodangelod
    Participant
    @angelod
    Join Date: 2005
    Post Count: 3
    July 14, 2005 - 12:48 am

    Hi

    We have nortgage business link is sydney which is straight down the line

    Call me in Melbourne on 03 9877 9806

    Regards

    Angelo D’Ambrosio
    ADA Group Accoutants

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