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Thanks for all your help guys. This is a great forum. FHP

Hi, am wanting to refinance current PPOR at 25% LVR. Am self employed with plenty of income, plenty of cash in bank, just a bit lazy with getting financials/BAS's done. Loan will only be $300K. Can provide BASs if I really have to, but would prefer no doc if possible. Will any of the big 4...

Thanks for your help guys. Current lending is with CBA and they mentioned that we would have been better off with the "property share" loan you mentioned. Apparently it cant be used for refinancing existing mortgages. Shame it wasn't available/suggested a few years ago when we set up the...

Hi, some brothers/mates and I purchased a property a few years ago which is now worth about $600K. The loan is in all 4 of our names and has nearly $300K to go. With the loan having all four of our names on it, borrowing for other purposes is a real nuisance. Is there a lender that would let...

Just out of curiosity, at what point does the loan go from being a normal resi loan to a development loan? Is three units the max under a resi loan? I'm guessing different banks have different rules on this?

Is it possible to take out the loan in your own names but hold the property in trust?

Thats a very open question Ethann! How much you should pay depends on what kind of service you are expecting to get. Compare your question to ....... "how much should you pay for a meal in Sydney?" You can go to McDonalds and pay $5 but I wouldn't call that a meal. Just like you can go to...

Would I have been better off buying as tennants in common and each of us having a separate loan?

Consider this scenario.... I own a half share in a property with a freind. The mortgage is in both names. I want to buy another rental in my own name. When assessing my borrowing capacity, the bank will look at the current joint loan as being soley mine, yet only count half the asset as...

Hi there, I was curious as to how the bank decides whether to do a desktop valuation, or send a valuer to do a drive by or full inspection? There is a loan I am looking to refinance and I'm sure if the bank did a desktop val based on the rental return and the suburban average, they would come...

Hi Alex, the viability of the idea hinges on the first question - is it harder to have a loan approved if the client has burnt their credit record with a few recent knock backs from the banks? So...the type of borrower I am talking about is the client who has been knocked back by a few...

A question to all you brokers. Where a client has made a few botched loan applications and has a number of recent credit enquiries on their record, does this make your job harder, ie is it then more difficult to secure that client a loan? If so, do you then charge an upfront fee to that...

I can almost guarantee that the person doing your work at HR Block is NOT an Accountant. Yes they are a large firm, just like Mc Donalds is a big restaurant. Do you think the kid that makes your cheesburgers is a Chef? Find an Accountant that has rental properties. Expect to pay for a...

All wise words from everyone that has commented. Dont forget there are a lot of other variables that effect your refund, beyond the simple fact that you have a rental property. Do you have private health cover? Have you ever done a PAYGW variation? so on and so on....... Take the...

If you were going to a major chain to have your tax done, chances are, it was not an accountant doing your work. Spend a few afternoons doing a H&R Block course and they'll give you a job attempting tax returns. ITP is the same. There is a reason they are so cheap. You can't expect much from...

I don't see a problem with this at all. From a taxation perspective, its just a simple refi. If possible, try to reduce the fixed loan down to $310 when you swap it over. Alternatively, the Accountant can adjust the interest deduction down to account for the extra $10K in borrowings.

Finding a cheap Accountant is easy. Finding a good Accountant is easy. Finding a good Accountant that charges like a useless Accountant is not going to happen. Like property prices, accountant prices are driven by demand and supply. A good accountant won't work for peanuts because there...

There are big discrepancies amongst accountants charges for various reasons. Some accountants are brilliant at what they do, they keep up to date with changes in tax law, communicate well with their clients, and as a result, have a lot of loyal clients. Their selling point is that they do the...

It never ceases to amaze me that people have any sense of loyalty to a particular bank. It is very rarely reciprocated to any significant degree. Banks are a business and you represent less than 0.01% of their income You can't expect them to care why you aren't paying your loan. You can't...

Yeah, I thought this might be a difficult purchase. My credit score should be very good, no black marks against my name, everything always paid on time. Already have one property in a regional area but the loan was less than $400K, although still at 90% LVR. No real equity to pull from that...