Help with figures

Hi All

Just wondering if any of the more knowledgeable people could work my figures to see if I had enough to go buying another property.

Here is my situation..

PPOR IO Bank A. Valued by bank 2 years ago 460k loan of 367k. Offset account with 80k.

IP1 IO Bank B. Held in HDT. Valued by bank 2 years ago 550k loan of 360k and LOC of 80k with 15k used, and interest is capitalized.

IP2 IO Bank C. Block of land. Value approx 200k loan of 150k House signed up to build on it for 217k with the loan yet to be sourced.

I have a six figure wage and all loans are in my name only.

Any thoughts would be appreciated.


Total portfolio - $1,210,000

Total debt - $812,000

LVR = 67%.

You can normally borrow 80% of the properties' value - $968,000 less any loans, so you can still get access to about $156k.

To access more finance, you'd have to have a very good degree of serviceability, which is different with every lender, and/or get mortgage insurance.

Part of the serviceability is determined by some of the rent plus your wage, and a lot of the debt is on the PPoR so there is no rent to help your DSR.

Having one of the properties in a HDT changes things as well.

I would wait until you get the build on the block done first, then re-assess.
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