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Thanks for your replies. The business is trading as a Company. I have given the Financials to my broker and he says he will need to deduct the accumulated loss of $20K from my PAYG income. It seems I may be better off getting my accountant to state the last years loss in the letter instead of...

Hi, I have a full time job and also running a side business. If my business made a loss of about $10K in each of the last 2 financial years, would the bank simply deduct one years loss of $10K from my PAYG income to calculate servicibility or would they deduct $20K (accumulated loss of past 2...

Hi, I am buying my first IP. My costs for buying the IP are $20,000 (5% deposit) + $35,000 (stamp duty plus LMI etc.). I already have $30,000 sitting on my Prop loan as a redraw which I assessed when I revalued my Prop. The balance $25,000 is sitting in the offset account. I understand the...

Thanks Richard for your advice. Just what I wanted to hear. You are a legend. John

To all the Finance Gurus, I am looking at buying 2 IP's in the next year. Me and my wife are both on good incomes through our jobs so servicibility is not an issue. I am however the director in a company which has made losses in the last 2 financial years. I know when I applied for a loan...

Are there any lenders offering 95% Owner Occupied loans anymore? John

Hi, Can anyone please advise how much is the approx stamp duty percentage for buying an owner occupied property in Sydney. I am not a first home buyer and have heard there is a discount on stamp duty at the moment. Can you please confirm? John

To all the Finance Gurus Is it possible to get a full doc loan at 90% lvr for a unit in a high density area? John