Questions regarding Loan brokers and IP

Discussion in 'Loans & Mortgage Brokers' started by fullylucky, 9th Jun, 2017.

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  1. fullylucky

    fullylucky Well-Known Member

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    what types of questions will brokers ask and what info do I need to prepare before seeing one.

    what should i provide to make their life easier etc?

    Questions for investors, would you consider buying an apartment in this current climate in Brisbane? or house only?

    Also with the recent changes of I/O to P&I. what std var rates should I expect for QLD properties houses? apartments? Does it also mean you will need 20% deposit?

    If you current have saved $0 for deposit what's the best way to get another IP?
     
    fullylucky, 9th Jun, 2017
    #1
  2. tobe

    tobe Well-Known Member

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    Most brokers will send you a fact find, questions like name address, income asserts and liabilities, usual living expenses, What you want in a loan etc.

    Then as your deciding on the right loan you send payslips, rental statements, loan statements and ID. Maybe transaction statements and credit card statements too.

    Try not to get too caught up with interest rates, they are actually changing all the time, and there's no doubt more to come. Most lenders investment svr is around 6%, and you might get a discount of around 1.3%

    Rates are the same for apartments and houses, Qld, NSW, or Mexican.
     
    tobe, 9th Jun, 2017
    #2
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  3. MC1

    MC1 Well-Known Member

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    Lol fullylucky back in full force
     
    MC1, 9th Jun, 2017
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  4. fullylucky

    fullylucky Well-Known Member

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    oh ok
     
    fullylucky, 9th Jun, 2017
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  5. sash

    sash Well-Known Member

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    sash, 9th Jun, 2017
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  6. Brady

    Brady Well-Known Member

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    Haha first time I reckon the seagull/chip meme won't be needed in this type of thread.
     
    Brady, 9th Jun, 2017
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  7. Scott No Mates

    Scott No Mates Well-Known Member

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    Sell a kidney or show a steady stream of bookings for the temple.
     
    Scott No Mates, 9th Jun, 2017
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  8. MTR

    MTR Well-Known Member

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    Keep posting, keep saving:)
     
    MTR, 9th Jun, 2017
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  9. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    [QUOTE="fullylucky, post: 420182, member: 1149"

    If you current have saved $0 for deposit what's the best way to get another IP?[/QUOTE]

    tapping your, or an immediate relatives equity

    ta

    rolf
     
    Rolf Latham, 9th Jun, 2017
    #9
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