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  1. tobe

    Interest prepayments with Macbank and AMP, too late?

    That's not how it works. IOIA is a different product entirely. Breaking your fixed rate to change to a different product would no doubt involve break fees, even if you were rolling to the same rate.
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    Interest prepayments with Macbank and AMP, too late?

    Its a whole new application for most lenders. It might already be too late, depending on the complexity of the deal and their current turn around times.
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    Business Loan to fund home loan deposit?

    SO your a business owner, and your business has some cash, that it would like to lend to you for a deposit on a house? No problem with this scenario as the bank looks at both you and the business's assets and liabilities to determine your eligibility. Its a zero sum game. If you are...
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    How long did it take banks to loosen lending after GFC

    great topic. The GFC disrupted lending by disrupting,and then killing the securitisation market, which by that point was used by almost every lender for every resi deal. The lenders that remained (the big four) and their mortgage insurers, changed their policies to make their books less risky...
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    Property tax

    I think you need to get some specific advice. Only moving into the property after you have received offers to purchase it smells bad to me, and might be something the tax office is interested in.....
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    New Investor

    Welcome. I like option 1. Although option 2 gives you a CGT free profit, as you say that will give up a property with good prospects. If the long term goal is to have a passive income of $100k, then you would also need to purchase some more investment properties. You may find this best done...
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    Alternative ways to get an IP?

    You may need to get a good job, just like Joe Hockey said..... Any of these casual positions willing to take you on full time? Even though the money might not be as good, a full time job opens up quite a few more lenders to choose from.
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    Consolidating loans

    There aren't too many pro's to consolidation in my opinion. Up until recently you might have gotten a better interest rate based on the combined loan size, and you have the convenience of dealing with only one lender.
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    suggest me a JV setup

    They have the income and the deposit? You have the street smarts? Id have the property in their name and devise a cash payment for yourself as the manager of the reno.
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    Hang laundry on balcony visible from the street? legal?

    In some whack job housing estates/local government areas in the states its illegal to hang washing, or grow vegetables visible from the street. I haven't heard of it happening in Australia.
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    RAMS Cash Out Policy on IP?

    rams has always added a small buffer. While they have increased their serviceability rate, they haven't yet changed the way they assess OFI debt.
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    Costs involved in buying existing property as a newbie investor in NSW ?

    Minimum deposit is generally about 12% of the value of the property plus stamp duty conveyancing etc. If you have equity in another property, such as the one you live in, you may be able to borrow this as well.
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    Land/Construction Loan

    Your margins are too skinny. Definitely don't assume the end value to be more than the cost. Even if by some miracle the valuer says the end value is more than the cost, the bank and mortgage insurer will use the cost for working out the lending ratio, without exception. Get a long...
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    RAMS Cash Out Policy on IP?

    cash out limited to 90% including LMI, or without cash out up to 95% plus LMI 'dollar for dollar' refinancing.
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    Land/Construction Loan

    Doing a custom build at 95% LVR is a little risky if you ask me. In terms of the 750k cap, that relates to the value of the property, not how much deposit you will contribute. In other words, the maximum you can borrow at 95% is $712,500 Plus lmi,or if the total project values more...
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    Land/Construction Loan

    Id suggest getting the full land and construction loan formally approved first, before committing to the land. Don't let the builder or land agent railroad you into doing the land first, because they cant produce a build contract that quickly, or the land is going to sell quickly etc. You...
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    A few quick questions from a newbie

    I started out in regional, I didn't have the cashflow to fund NG, so I bought something a teeny bit positive. i was lucky to get some capital growth the first couple of years, which I was able to leverage into other properties, both regional and metro. Id say there is capital growth...
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    Individual borrowing Capacity AFTER buying using Tenants in Common

    Its my understanding too Brady. Its better now most guarantees are only for a limited amount rather than the full amount borrowed, but it is definitely treated as a liability, just as an undrawn Line of Credit or Credit card.
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    Individual borrowing Capacity AFTER buying using Tenants in Common

    Id wager the cba assessor will take the whole loan into account and only half the rent the next time you did lending with them as well.
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    NEWSTART ALLOWANCE IF YOU OWN IPs

    Everyone should get $200 per week regardless of their circumstances. Its about what we spend on 'welfare' anyway, (administration makes up a large proportion of the spend) and we could do away with all this moralizing and name calling about cheats etc.
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