CBA 90% no LMI loans: Lawyers and Accoutants

Discussion in 'Loans & Mortgage Brokers' started by Terry_w, 31st Aug, 2015.

Join Australia's most dynamic and respected property investment community
Page 5 of 5
  1. Excalibur1

    Excalibur1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    335
    Location:
    Sydney
    @Terry_w I don't plan on getting any loans yet, but its good to know who to turn to should i need one. At the moment I have problem with serviceability, until wife goes back to work :)

    The only reason i was looking into this is because a friend told me he has 90% no LMI with CBA. So I thought I would give them a call to ask about this and I got the work around.
    Google search brought me back to good old Property Chat :)

    Once again Thanks @Corey Batt and @Brady
     
    Excalibur1, 30th Jan, 2017
    #81
    Brady, Terry_w and Corey Batt like this.
  2. craigc

    craigc Well-Known Member

    Joined:
    25th Jun, 2016
    Posts:
    1,597
    Location:
    Melbourne
    Hi Brady, can the rental income be a REA appraisal (of PPOR to become IP) or does it require a lease to already be in place?

    Thanks again PC members!
     
    craigc, 30th Jan, 2017
    #82
    Brady likes this.
  3. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,570
    Location:
    Adelaide, SA
    Is she currently on Mat Leave? Was she previous full-time, will she be returning back to work in some perm capacity? Might not have to wait

    Yes can be REA appraisal.
     
    Brady, 31st Jan, 2017
    #83
    craigc likes this.
  4. Vassago

    Vassago Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    132
    Location:
    Perth
    How does short stay (airbnb / stayz) income get accessed? 3 months of statements from property manager sufficient?
     
    Vassago, 31st Jan, 2017
    #84
  5. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,570
    Location:
    Adelaide, SA
    Would suggest it comes under Holiday Rental.

    Verified via.
    1. Most recent taxation return
    2. Twelve months rental credits into an account
    3. Most recent external valuation report (i.e. estimate market rental as if rented on a normal basis).
     
    Brady, 31st Jan, 2017
    #85
  6. smator

    smator Well-Known Member

    Joined:
    14th Jul, 2015
    Posts:
    123
    Location:
    Sydney
    Would CBA go up to 90% for top ups? Originally was at 80%
     
    smator, 1st Feb, 2017
    #86
  7. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,570
    Location:
    Adelaide, SA
    Pending loan purpose shouldn't be too many reasons why you couldn't, would have LMI if you didn't qualify for any waiver.
     
    Brady, 1st Feb, 2017
    #87
  8. dave80

    dave80 Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    136
    Location:
    melb
    How does one learn more about the bankers industry professional package with CBA please?

    Former big4 employee now working for large US bank based in Melb at Director level and exceeding minimum income threshold referred to earlier.

    My existing mortgage is still an employee loan elsewhere but I didn't realise I could possibly tap into these perks again.

    Love to know more, cheers
    Dave
     
    dave80, 10th Feb, 2017
    #88
  9. tobe

    tobe Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,814
    Location:
    Melbourne
    tobe, 10th Feb, 2017
    #89
    Brady, Excalibur1 and Terry_w like this.
Page 5 of 5