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HI TMNT, I agree with Peter-Tersteeg, If you're simply refixing an existing loan, the initial broker will continue to get the trailing commission regardless of who fills in the paperwork for the fixed loan.

Short answer is no. He cannot own a property he cannot afford. However if you are purchasing it with you and your partner on it then we can use the income. Issue is possibly 3 of you will need to be on title

Hi Brizza, 70k salary with no debts and no dependents could allow you to borrow a certain amount however it varies with different banks. Some allow you to borrow more, some allow you to borrow less. To be safe you borrowing power would be enough for your purchase. However your $30,000...

Investing in commercial property depends on your overall investment strategy. Most people get into commercial investing because they provide higher yields than residential properties, however growth ca sometimes be a little stagnant depending on the market conditions. It's always best to...

Hi mate, I would back up the above responses and agree. Commission wise all banks will be the same or similar. 5 year fixed ING is market leading so it will be hard up to find a better fixed rate unless you go for a lower term. I would fix for as long as you can with rates being under 5%.

There may be sufficient equity in your investment property & if your income position is strong also factoring in the rental income from the investment, it may be possible to extend your borrowing further but you really need to speak to an experienced broker who is able to assess your situation...

It is crossing the securities with the guarantor option except the debt is solely under your name. If there are no issues with the guarantor to use their property as least you can avoid LMI again.

The personal guarantee you provide to a SMSF loan with most lenders is only when the loan is not self sufficient and you need to make extra contributions to the fund to ensure serviceability is evident. Very different to using the equity to facilitate the purchase.

One other thing to consider - With interest only,most investor assumes that the value of the property will go up and produce it's own equity. If the assumption is wrong and the value decreases it can be a significant setback if you are not able to hold investment for longer term.

As long as your credit history is clean and you have demonstrated stability in employment. It is highly recommended to get a solid pre approval from one of the major Lenders. CBA is definitely one of the best choice. Thanks Amine

Yes, on your PPOR you can go up to 97%, but it does depends on who you currently bank with. You need to be an existing customer with these banks to go 97% if its your PPOR. If the property is an investment then it is 95% inclusive of LMI.

Hi Shezian, 1. There are a few lenders who can accept past (no more than 24 months old) business tax notice assessment and tax returns OR if the statement is older than 24 month, then that lender can accept Internal management accounts supported by Business Activity Statement 2. There...

Hi Tess, As everyone has said, you would just need to do a loan increase on your existing loans. The problem though is banks will not allow you to draw 100% of the equity from your properties. Quite often they only allow you to draw a maximum of up to 90% of the property value and in some...

Mick C is correct on how the valuation is conducted by most of the bank's valuers out there. Unless you have some quotes and funds to show you will complete it then the assessor of the bank might see that as a concern.

Hi WritetoAbdul, When you apply for a loan, the lender will need a copy of the building contract/tender and the plans. They will ask their valuer to estimate the on completion value of the property and will assess your loan on the lesser of the land price plus cost of construction or the on...

Pretty much the only difference will be with the way it is evidenced. Banks statements showing consistent payments coming in as well as a signed lease agreement if it is private. If it is managed through an agent the two most recent rent statements will suffice.

As everyone has mentioned here deposit is the first priority. What exactly is your current job as well because there my be a chance for you to secure a no deposit home loan on your job type. Unless you have any other properties? Just throwing out some ideas.

There really isn't any simple answer because nobody can predict the future of interest rates, not even the Reserve Bank of Australia (RBA). Firstly, you should decide if it is suitable for you to fix your home loan based on the future plans for your finances and the property that is security...

St George and CBA would accept this scenario no problems

Hi Bentley, Although to some extent the majors can possibly waive the LMI, the key is finding a lender that can waive the LMI whilst also offering very competitive rate discounts when borrowing in excess of $500,000. Some banks do this much better than others. Thanks