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  1. J

    Valuation - Connecting Sites

    on a residential lending basis they would do 2 valuations and value them independently. On a commercial lending basis this may be different.
  2. J

    Anyone seen this new venture being backed by Aussie John

    Looks to be a lead generating site for Aussie but can also be useful. Checking your credit score should not impact your score as it would be an agent enquiry. There is a couple of other sites that do this as well.
  3. J

    where does ME bank sit in the generousity scale

    Depending on the type of income it would sit around middle of the pack. There service can be hit and miss depending on how good a fixed rate they have out at any point in time. Generally i would only consider them for a refi rather than purchase which is time critical.
  4. J

    flongle - Has anyone used it as an investor?

    thats the other side to what brokers do, we negotiate price. Almost all loans need to be negotiated as every bank is doing under the table deals so as a customer direct knowing what each bank is offering is difficult so makes it harder to negotiate.
  5. J

    Offset account & interest in advance

    Are you trying to pay the interest in advance to claim the tax deduction prior to financial year ending? True interest in advance is a fixed rate product. If you have a variable rate product with and offset account it is not going to make a difference in the interest charged if you were to put...
  6. J

    LMI on same property with same lender ??

    yes 3 separate loans, LMI would be calculated at todays rates less the premium already paid with the minimum premium of 500 plus stamp duty for NAB
  7. J

    LMI on same property with same lender ??

    Your figures are correct but there is a minimum LMI premium with NAB of 500 plus the stamp duty of 10% so you should be paying $550 for the LMI on the increase.
  8. J

    2 Finance Questions.

    they will look at the overall strength of the deal, how much is the default? Are you borrowing 80% or below?
  9. J

    Need to borrow $1 MIL

    With the right structure this might be achievable :-)
  10. J

    Refinancing and deductibility question

    this is something you would want to get specific advice from your accountant prior to doing anything but i have seen cases specifically for properties owned by a trust and the loan is setup in the individual name only and then a loan agreement between the trust and the individual this way the...
  11. J

    Reason for refinance

    It is going to come down to the lenders cash out policy. If the topup is within their cash out policy then you can just say future investment.
  12. J

    borrowing more money

    Hi ABL without knowing the full income/liabilities my thoughts are if you have spoken to a couple of banks and they said Ok to 700K you could probably do both with the right structure and use of lenders. You will also have extra rental income from the second property the bank would not have...
  13. J

    Re finance when vacant and during settlement

    Hi Fabi, regarding question 1 you could use a rental appraisal letter to verify income. Because you are not actively trying to find a tennant i would not see this as a problem as once the renovation is complete your intention is to sell it but if you cant get the price you are after you would...
  14. J

    Tax deductibility on redraws for IP?

    Yes it is the purpose of the funds not the security that determine tax deductibility.
  15. J

    3 years fixed 4.59%

    ME bank does not allow offset accounts against fixed rate loans which is common with lenders. There is a couple that do allow it namely cua.
  16. J

    Difficult finance proposition

    Without having all the details based on what you have posted you are going to struggle as mortgage insured loans are not the easiest with "irregular casual employment"
  17. J

    3 years fixed 4.59%

    great rate but the revert rate is not the best so if you are paying LMI and plan to keep topping up be aware.
  18. J

    Homeloan Search and Pre-approvals

    Hi ML, you need to take a breath and think about your situation and what you are doing. From what i gather you are waiting for pre approvals from 2 lenders through the mortgage broker and enquired through loans.com.au all at the same time? If all 3 lenders have done credit enquiries you are...
  19. J

    How quickly equity can be released?

    With a lot of lenders you can release the equity immediately and will often use the same valuation. You will just need to make sure the lender allows cash out unlike the lender you got the 200K from. Which lender is it? Jon
  20. J

    American income, australian bank finance?

    No problem at all, you can get up to 90% using USA income buying Australian property. If you were purchasing in the USA you would need to source a bank over there to finance the deal as the australian banks will not take it as security but there is nothing stopping you from doing the increases...
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