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About Me

Kelvin Mason

Current Rating: 4.72 / 5
Finance Broker
realestate.com.au Home Loans
Kellyville, New South Wales
► What I do?

I show home owners how to invest safely in residential property - that they can pay off their home 10 years sooner - without affecting their life style - using the correct property type and finance structure.

► Safe Property Investing | Finance Structure | Dual Income Properties

When property investing is talk about, most “ strategies” revolve around Acquiring, Holding, and Selling.

Acquiring expects Capital Growth to be able to buy multiple properties, paying Interest Only on loans, waiting for Capital Growth to increase prices, then Consolidate by selling some properties.

• CAPITAL GROWTH | Do you have time to wait for the next market cycle? Do you think capital city property is going to increase at all in the next 5 years let alone double in 7-10 years? What is the opportunity cost in waiting? How much interest are you paying on your home loan each year?

• AFFORDABILITY | Can you afford to invest? Does your rental income pay the mortgage? Can your invest without it affecting your lifestyle?

• EXIT | What will the market conditions be when you need to sell? What are the capital gains implications if I need to sell? Can I plan my finances and buy using a better property type, and pay off my properties without selling?

Are there ways to invest, pay off your mortgage, generate passive rental income, without speculating on capital growth and without affecting your lifestyle?

The answer is YES.

► My Area of Expertise:
✔️ Property Investing Strategy ✔️ Dual Income Properties ✔️Cash Flow Positive Property Investing ✔️ Residential Property Investing ✔️ Creating Wealth through Property ✔️
✔️ Investment Property Loans ✔️ Home Loans ✔️ First Home Owners ✔️ Self Employed Lending

My Activity

Q: We had home was valued last week and the valuer was in the house for no more than a couple of minutes. The broker said the lender arranged the valuation but how do we know they get it right when they pretty much walked in and walked out?
A: Hi Andrew, Valuations from a brokers point of view is a dark art. We see valuations come in as per sales contract - and we see them tens of thousands different. Generally we work with another lender to organise another valuation if one comes in low. They are allowed to be challenged and to change the valuation - but seeing they are professionals - that is rare.
Q: We want to buy a property to live $1.4M and have $600k deposit. Problem is we have two defaults on our record, both paid. We used to run our own business but my husband is back working fulltime as an employee and earns $90,000 a year and I work 3 days a week and earn $50,000. We have been told the only loan we can get is through a 2nd tier lender and the rate would be 4.8%. Is there a chance we could get a lower rate, under 4%?
A: Hi Tammy - there are a few lenders who can look at your history for the last 2 years in conjunction with a story around how to debts came about - the amount $ - and the fact they were paid

You are wanting to borrow around 63% and non in LMI space - so the lender can make their own credit decision.

Q: Where is the best place at the moment to buy an investment property for around $600.000?
A: Hi Pascal - I would suggest you dont do the research yourself. There are a swag of professionals who's who income is based on giving advice around investment property. The way I work is understanding if you have a current home loan - and if so - a Cash Flow investment strategy might the best way forward to pay down your home loan - which is not tax deductible - much sooner. Cash Flow positive properties are around the country adding $100-$150 per week - after tax - towards your home loan repayment.

All strategies depend on your goals - your age - if you have equity in your current home etc.
Q: Hi easy is it to find a low interest loan for investment property without the attached application fees and not many fees and charges involved with added bonus features of a package with a credit card?
A: Most lenders with any additional benefits are charging an annual fee. If you only need a basic package, then thats great.

What I find is its useful to work with a broker and compare all the fees including interest rate - setup (application - legal - valuation etc) and monthly or annual fees. This way there are no hidden fees later on. The lowest advertised rate is not always the cheapest.

Best rates are 80% borrowing - so if you can secure 20% + costs for your investment property from another lender - especially if under an owner occupied rate - then thats ideal and the lowest repayments.
Q: Our offer has been accepted on a new home and we are just waiting on the finance before we exchange. Is there any way the property can be taken off the market so we don’t lose it?
A: Yes, but its fraught with risk. You can use a Section 66W to waive the right to cooling off - but you would be recommended to do a building and pest AND have your finance approved.

Generally, I see clients be pre-approved to an amount = Conditional Approval and then once the valuation is done and accepted by the lender = Unconditionally Approved. That is the no risk time to take your new home off the market.

PS - I recommend getting insurance on your property at the time you 10% deposit or a deposit bond is paid. I get the insurer to call and there is a 90 day free insurance cover - no obligation.

PPS - Some lenders have a 24 hour turnaround on approvals - so dont wait too long to secure.
A: Agree - please get advice around retirement planning. Via property, you can assist your children with a Family Guarantee loan for the 20% + costs if they have the net income to service the full loan.

How I structure such loans is the 80% is paid interest only - and the guarantor part principal and interest plus the principal component from the main loan - same repayments - the guarantee loan gets paid quickly - generally < 8 years.
Q: Hi, I am about to start my own recruitment business and wanted to know if it was possible to obtain a business loan to help the business get started. I have been a HR Manager for 12 years and hoping I can get a loan of around $25,000 without having to borrow extra on our home loan?
A: Hi Athena, One lending option that might help if you need to purchase any equipment is to lease 100%. Best rates are after 2 years ABN but with a clean credit and your prior history - lenders consider and its a 1 page and 1-2 day turnaround. In the end, you need to provide invoices for the equipment you want to purchase.

If you are after funding to pay the rent or other cashflow items - lenders will want to see some real estate backing.

You have asked the question at the right time - if you have not left yet - extending your loan for a line of credit or even just redraw (usually at no charge) - you will be able to fund the next 3-6 months in business. What I generally find if a refinance saves repayments and might offset the cost of having access to an extra $25k
Q: I am using a how much can I borrow calculator and want to know if I can include commissions and superannuation as income?
A: Most / all lenders include gross base income (no superannuation) and then 80% of any bonus which has been received over a 2 years period. If self employed - you can include Net income + addbacks which can be any super above the 9.5%, depreciations, interest being refinance and any one off costs the lender accepts.
Q: How often should I review my mortgage?
A: If you are unsure if you have the lowest repayments from a lender - want to make any changes like release equity, investment or purchase a new home, you should see a mortgage broker.

More people get divorced than change their home loan - does that make any sense?
Q: Parents are in their 70’s and have been given advice about using their home to borrow money. What’s the difference between a reverse mortgage and an equity release loan?
A: Agree with Peter - A lender would need to see income to service the loan and an exit plan if a regular loan. Many times with people our parents ages, this can be via super income or lump sum.

Reverse mortgage allows a retired person to fund their life style from their home.

With a reverse mortgage, the maximum amount you can borrow typically starts at about 15% of the value of your home for those aged 60, up to 45% for a customer aged 90.

You can read more or contact myself or a qualified reverse mortgage broker .. http://www.sequal.com.au/
Q: How do I best buy property in my SMSF?
A: SMSF Lending

There is regulation and confusion about SMSF lending and how to borrow. Each lender has different policies, each borrower different goals and servicing ability.

This is a general introduction to SMSF lending “policy” :-

• Residential security still 80% lending - most are now 70%.
• Commercial security still at 70% lending - most 65%
• Off the Plan - single contact - now 60% max
• Brand new SMSF - ok for many
• Credit - some can have minor credit impairment
• Interest only 10 years - most 5 yrs
• Minimum sized fund - most $150k before purchase and range from 2.5% - 20% “other investments or cash” - to $300k
• Interest Rate and Fees vary widely
• Independent Financial Advice – not always required but recommended

An example of Policy from 2 lenders

#1 Lender
• 80% LVR lend
• from 5.69%œ
• 20% “other assets” required after settlement –
• cash or other investments (to show diversity)
• $30k min loan - Max $1.25M
• Term 30 years (resi)
• Application Fee $495 (includes 1 valuation and settlement costs)
• Setup New SMSF $695, Review Corporate Trustee $895
• Monthly $10
• Ability to review credit impaired

#2 Lender
• 70% LVR lend
• from 5.49%
• 2.5% “cash” required after settlement if off the plan else $0
• Max Loan $1M - Min tba
• Term 30 years (resi)
• Application Fee 0.75%
• Valuation $302.50, Title Insurance $130
• Legals $1600+
• Monthly $15
• Ability to review credit impaired

Happy to help with specifics
Q: How do I best buy property in my SMSF?
A: How simply can I purchase property in a SMSF ?

My role is to help you realise your dream by providing all the information and credit guidance you need

Here are a few reasons you may want to recommend a knowledgeable financial planner or accountant to ensure the credibility of your most important purchase – inside a SMSF.

I have setout the steps to setup and implementation your SMSF strategy.

Step 1 - Statement of Advice ( If required *)
This will cover off your suitability for a SMSF with particular focus on funding and costs that are involved. It will cover the purchase of your property and the necessary structures you need in place to complete such a purchase and also the ongoing cash-flow of your fund. Address estate planning issues and also contingencies that need to be in place to account for such issues exclusively associated with SMSF property purchases.

Step 2 – Liase in the setup of your SMSF
We will liaise with your accountant or solicitor in the setup of the necessary structures needed for the purchase of a SMSF including
- SMSF Trust Deed - Working account - Insurance
- Bare trusts and; - Corporate Trustee

Step 3 – Assist with the loan application
Some lenders require either a SOA * or an advice certificate to be signed in order to implement a loan. The advice we provide will be able to meet these requirements with the Trust deed also being pre-approved for ASIC and ATO requirements.

Typical Setup Costs
SMSF Setup - $2500
Statement of Advice - $3500
Legals - $1500
Bare Trust and Corporate Trustee - $2200
Stamp Duty - included with borrowings
Other : Conveyancing, Insurance - tba

The Financial Planner can complete the whole set up for a cost of $7,500.
Q: I am a fit, female 61yrs living alone, paying $1500 rent a month and fully employed.
Am I able to buy a place of my own?
All my money is in VicSuper
A: Agee with the other brokers, Income, deposit and exit plan are the 3 key determinants of a successful loan application.

You have not mentioned if you have a deposit or your money is all in Super. You can borrow a maximum of 95% for a place to live in and that attracts LMI or bank risk insurance - which you can generally at part of to the loan.

What that means you will need approx 10% of a deposit - a broker can provide the exact minimum amount.

Income - You will need to see a broker to confirm your personal circumstances - but as an example - an income of $85k, single borrower, will allow you to borrow approx $530k - assuming no credit card or other liabilities.

Exit Plan - this can include paying out all or enough of your loan to be sustained my regular super payments or a pension.
Q: I often see banks and car loan providers advertising their comparison rates. What exactly is a comparison rate and is it the best way to compare mortgages and loans?
A: Comparing costs for a $150,000 loan over 25 years - not very informative. Best option is to contact a broker and get s comparison of loans suitable and available to you.
Q: Is there an easy way for businesses to obtain quick short term finance (1 to 2 months) to cover working capital shortfalls?
A: There are quite a few options ranging from % of your credit card turnover - factoring if you invoice - personal loans - equity release from a property your own or paying off - 2nd mortgage. Best option probably depends on which options you have available and will include what income and other loans you have.

2nd Mortgage / caveat lending range from 2-3% per month to 11%+ 1st mortgage. So short term - expect fees 1% of borrowings and 2-3% month depending on where the property is and what % debt is against. Happy to help - 24 hours generally for approval.
Q: I am concerned I have a bad credit rating, but I don't know how to find out if this is the case. Also, if I do have a bad credit rating, is there a way I can fix it?
A: http://www.veda.com.au/swiftcheck/features

This will access your free report - takes 1-2 weeks

If you have a default or some other issue you should contact the company that listed it and try and resolve and get removed.

There are ways to get removed but not all types of debt will be - like Telco and Utilities.

Lending options exist especially for defaults that are over 2 years.
Q: What are your thoughts on purchasing a residential property within my SMSF and why would this be more beneficial than investing in Managed Funds/Equities?
A: Best person to answer about strategy is a financial planner - I can answer some basics from a finance point of view. SMSF is a medium to long term strategy.

SMSF Lending

There is regulation and confusion about SMSF lending and how to borrow. Each lender has different policies, each borrower different goals and servicing ability. This is a general introduction to SMSF lending “policy” :-

• Residential security still 80% lending - most are now 70%.
• Commercial security still at 70% lending - most 65%
• Off the Plan - single contact - now 60% max
• Brand new SMSF - ok for many
• Credit - some can have minor credit impairment
• Interest only 10 years - most 5 yrs
• Minimum sized fund - most $150k before purchase and range from 2.5% - 20% “other investments or cash” - to $300k
• Interest Rate and Fees vary widely
• Independent Financial Advice – not always required but recommended

Happy to answer any questions
Q: Our home loan was fixed for 3 years and we have 12 months to go. I called our bank to check in on their current fixed rate options and they offered a lower fixed rate for another 3 years but they want to charge us a penalty for breaking our fixed rate loan. Is this normal process?
A: Yes - best to wait till the 12 months is up and get in contact with a broker 2-3 months before - then review variable and fixed options.
Q: My bank said they are increasing their fixed rates. Should I lock in now or are there other lenders who will not be raising fixed rates that i should approach?
A: All rates are increasing so one option is to lock is current or new lender. Have a break let confirm all options
Q: We have found a house we want to make an offer and we have saved the 10% deposit. I have just started a new job and still on probation for another month, will this have any impact on us obtaining a loan?
A: Yes and no - same industry with some lenders you have no issues. Happy to review
Q: Why is it that I could get about a 0.50% lower rate on my home loan with my bank if I was a new customer? Shouldn't existing customers be getting a lower rate for loyalty? Is this just happening at my bank or with other banks as well? Seems unfair!
A: Best thing todo is have a broker look at options with current and other lenders.
Q: My parents have a defaults and they want to guarantor for me. I qualify for FHOG. My deposit coming from my parents. I earn $1700 p/f before tax. I have a car loan but this is for my dad. Bought 3yrs ago $20k now owing $15k. Can I get a homeloan?
A: Hi David - based on what you provided as your income $44,200 year with no other liabilities (like the car loan or credit cards) you can borrow around $280k - some lenders slightly higher. I would need to know the repayment amount for the car and if you had any credit cards - to see if this amount is suitable for the home you look to purchase.

I checked with lenders about defaults and they would need to learn more about both the amount - how long ago it occurred - and if it has been paid.

Happy to help and love to hear more.
Q: We have found a house we want to make an offer and we have saved the 10% deposit. I have just started a new job and still on probation for another month, will this have any impact on us obtaining a loan?
A: Hi Chris, There are lenders who will lend if you are on probation. The key consideration is clear credit, and showing you have been in a similar role for 12-18 month or more. 95% is possible and happy to run through options relating to your personal circumstances and needs.
Q: When we got our home loan early this year the rate was 4.22% and since then the RBA has cut rates twice but when I looked at our rate online it is showing 4.02%. Should we have received more than 0.2% rate drop?
A: Yes but the best rates are reserved for new customers. You can threaten to refinance or see s broker at look at 3.64% fixed
Q: We have recently taken out a mortgage but have had to go with a loan that has a higher than average interest rate because of a small issue on my husbands credit file. Assuming we make payments early, how long until we can refinance at a lower rate?
A: Once the default is clear you can refinance - lenders like pepper or liberty expect you to refinance once you can.
Q: We are looking at a new loan and want to know what the difference is between redraw and offset account. Does interest rate change if we did have the offset?
A: It can and unless you have significant amount of free money the extra cost each month plus higher rate with many lenders does not save you any $
Q: We are looking at a new loan and want to know what the difference is between redraw and offset account. Does interest rate change if we did have the offset?
A: For most lenders having an offset costs $10+ per month and redraw nothing - some lenders have no extra cost. Most fixed loans also have no offset - but come do.
Q: There's so many brokers. Do they all have access to the same bank deals? And when I get my loan, will my broker proactively identify when I should refinance - or do I need to do this investigation myself every year?
A: Hi Daniel - Broker do have access to their panel and if you work in the Lo Doc space or commercial we have access to many more - they all specialise and have different niche markets they are more happy to approve.

It has been my experience we will break down a new enquiry into the "policy" and select lenders who are most favourable. A good broker will always review with a few lenders to provide the flexibility and choice for a borrower.

And .. lenders change .. their service levels change (from 3 days to 20 days) and so we need to adjust which lenders offer better service and value.
Q: I have a great idea for a new startup. There's definitely a market for it because no other company (that I know of) is servicing this niche, but I have no idea where to start. Where do I go from here?
A: My suggestion is to visit a business advisor - this can give you an independent review of your plan - they also have access to the NAB micro loan of $20k if required
Q: Why do lenders who offer debtor finance only fund a certain percentage of invoices from a single customer, even though that customer may be a blue chip company, with very low risk of default? Is there a way to demonstrate that this risk is very low?
A: What industry is this client in ?
Q: Hi, both my Husband and I are currently employed and earn an a steady combined income. I'm considering leaving work and commencing a start up business and wish to obtain a business loan to add to some savings. What implications do I need to consider?
A: As stated by other - get your finance in order before changing to self employed and be realistic about startup costs and time to turn a profit. I would recommend you "share" you plan with a business advisor - some I work with have access to the $20k NAB micro loan - which requires no security.
Q: We are investigating franchising our business and want to get some advice on which banks are more proactive in lending to franchises?
A: Prospa are a cashflow lender who lend on business turnover - and higher rates than borrowing against residential property for business purpose. So you need to have been in business for 2 years I think and have a track record. They will lend a % of your turnover.

Launching a franchise would normally need to be done with your own funds - showing success. Do you have residential or commercial property to secure against for business lending ?
Q: What's the maximum variable interest rate that I should be paying on my home loan? Not fussy about the lender - I just want to know the range of rates that are considered acceptable if I refinance.
A: Many borrowers I see also ask, "can I get a loan?" rather than looking for the best rate. So I always start with the financials : the equity / deposit you have, the servicing / income / expenses and then any policy that need to be address.

POLICY : Add Backs, Bank Valuations, Bridging Loans, Business Capital, Car Allowance, Cash Out, Casual Employment, Child Support, Commission, Construction, Credit Cards, Credit Issues, Credit Scoring, Cross Collateralisation, Deposit Bonds, Debt Consolidation, Debtor Finance, Dividends, Employment History, Family Guarantee, First Home Buyers, Genuine Savings, Guarantor, High LVR, Interest Only, Investors, Maternity Leave, Merchant, Non-Residents, Off the Plan, Overtime, Owner Builder, PAYG, Pension, Probation, Reverse Mortgage, Rural Properties, Self Employed, Serviced Apartments, SMSF, Superannuation Income, Trusts, Vacant Land.
Q: Can you refinance an investment property loan without a salary/income? I have 2 investment properties with a combined value of about $1.4m and loan balance of $600k. They are positively geared (just). Have quit work to start a new venture so no salary
A: As mentioned with other comments - lenders take 80% rent for servicing so if this loan under P&I repayments services plus covering living expenses and any other debts or loans (inc credit card limits). Happy to put your numbers through the servicing calculators. If the loans are or can be split with different lenders we can increase serviceability for the loans.

(e.g. same financials $850k with one lenders and $1.3M with another)
Q: For a first-time buyer's home loan, do all banks in all states require a 10% deposit or is that negotiable?
A: If purchasing with a family guarantee, 5% "genuine savings" are required to show your ability and desire (also called character) to do so. There are some lenders who can look at your rental history for the last 3-6 months.

If you have family who can guarantee the 20% + costs you dont pay the LMI costs and so there is no requirements for genuine savings.

There are family guarantee loans that can help service the loan by paying out debts to $50k and consolidate any credit card or other debts that have a high servicing calculation.
Q: With the predicted 30% drop in apartment prices due to oversupply and the number of defaults from Asian buyers...are we likely to see a drop then flow onto house prices overall?
A: I think most real estate agents and mortgage brokers are expecting these liquidity issues to put downward pressure on high density units sales - the ones that have been favoured or spruiked to overseas buyers.

It does not follow on that other types of properties with different demographic buyers and renters should follow.

As expressed, real estate should be a long term investment.
Q: I'm looking at a 1 bedroom apartment for an investment, what percentage of the value will I be able to borrow? I don't see the benefit of it is too low to have the property negatively geared.
A: Confirming what was expressed already. You can borrow to 95% for investment, if that suits your investment strategy of 80% with no LMI costs. There are lenders who lend to 40 sqm but they think the smaller units are a risk - so do your homework. Note also lenders will fund a development to a particular % of the units - a broker can check various lenders to confirm they are OK with the specific unit. Also, there are developments and areas lenders wont lend in - again - this can be checked and it is generally in high density postcodes.
Q: I am keen to use the equity in my home to invest - maybe real estate. Maybe another option. Does anyone have any firm advice on the available options at the moment?
A: Best question for a financial planner - only
Q: If selling 50% share in an investment property, how is the capital gains tax calculated?
A: CGT is paid on the increase - 50% is applicable I'd held > 1 year
Q: Can I swap out of a fixed rate mortgage at Bank X and move to Bank Y at the same old fixed rate and therefore have the new bank effectively pay the old bank for the mark-to-market on the fix-rate break costs?
A: You can't swap but you can get the break cost estimate and compare via s broker the new savings - for single loans it is generally not economic. For split loans - check a comparison
Q: when do i have to pay mortgage insurance?
A: Generally over 80% - some professions exempt to 90% - some lenders (including Lo Doc) have a risk insurance instead
Q: Would anyone recommend taking out a policy of title insurance on a property?
A: Some lenders insist on this - I would check with your accountant
Q: Who has the most competitive home loan rate in Australia currently??
A: Not a simple answer - many people have the right "data" to get <4% loans but many cannot - so best to see a broker with all your financials and goals to see what options you have
Q: If I received conditional approval for a credit card, but now I don't want to go ahead with my application, does this affect my credit score?
A: Yes - any transactions affect the credit score but there are many lenders who don't use that method to check a home loan application.
Q: With interest rates at an all time low, is now the right time to fix a percentage of my loan?
A: Yes - the best rates are fixed and with variable approx 0.5% higher - usually a good idea - but best to discuss your short and medium term goals with s broker.
Q: I'm about to buy a home, how much should I allow for conveyancing? Are there any other fees I should be aware of?
A: Hi Michelle,

I see prices from $1200 for a conveyer and I would allow $495 for building and pest for a 4 bedroom house or $420 for a strata inspection. Other fees to be aware include :- Rates - Water - Electricity (or part there of), Insurance (building and contents, removalists, cleaner (old and new) ..
Q: I got pre approved for a $420,000 home loan 6 months ago and now the bank say I can only borrow $390,000. If my situation is the same how can the bank change their mind like this?
A: Very true - there is a quiet credit squeeze BUT some lenders have better options - depending on your situation - for example Major banks $850k - other lender $1.1m.
Q: A lot of talk about interest rates. Big decision by the RBA next week. What is everyone predicting?
A: With the fixed rates so low, i would consider the savings to be made now. Variable rates are are not likely to get as low as current fixed rates or with any small rate reduction.
Q: I have two credit cards (both nearly maxed out), a personal loan and a home loan. Should I consolidate everything into my home loan to save on paying interest?
A: Agree - yes to the lower interest but I only recommend if you are going to pay off over the same period and cancel the cards. If the loans are paid off over 30 rather 5 years you end up pay much more interest. For a refinance I split the Loan.
Q: We are not having much luck with the banks for the fit out of our cafe. A broker has mentioned a lender called Prospa - never heard of them so does anyone know much about them?
A: Prospa are one of a number of lenders that look at your last 12 months of more trading history and lend unsecured up to an amount they determine - it'd unsecured and around 1.2% per month so there might be cheaper options like a personal loan or lease on the equipment, I take it you have no real estate assets else there are Lo Doc lending options.
Q: I want some bridging finance for a residential home purchase. I need to borrow $2 million on 6/6/2015 to settle a purchase and bridge for 22 days when the sale of my property settles for $3,080,000. Need an interest rate and what security the lender need?
A: Agree there are no end debt loans that should apply. If the high borrowing amount is not for main stream lenders there are alternatives in caveat and capital lenders. Happy to help
Q: When my fixed rate loan period ends - do I just automatically switch back to variable with the same lender without having to bother with paperwork etc?
A: Don't wait for a lender to offer you the best rate but see a broker to go through your financials and provide options
Q: Is there a lender out there who will lend on lvr up to 70% with low short term income? I have high asset but 2 to 3 income flow will be low so can't get loan value to that ratio.
A: The short answer is yes via Lo Doc loan where your income is verified by your accountant. This is a common loan need for self employed or the growing number on casual income. Some main stream lenders also have options after 3 months but most after 6 or 12.
Q: Can I use some of my super towards my deposit?
A: Only if you are borrowing in a SMSF.
Q: How do I get a low rate home loan?
A: Easiest way if to talk with a broker. The lowest rates that are advertised are not always available and many borrowers do not service such loans as the lenders use high minimum living expenses and other servicing criteria.
Q: If I move out of my home and rent it do I need to refinance with an investor loan or can I keep the mortgage I currently have?
A: Your loan can remain as there is no current checks. If you come to buy another home, either investment INV or owner occupied OO, I would check with a broker. Some lenders are ok with OO and INV loans on the lowest rates. Next time around will depend if you need the income to help service 2 loans.
Q: Looking for a 85% LVR I/O investment loan with LMI waived? Are they available for NON PROFESSIONALS?
A: A couple of lenders have been providing no LMI to 85% - I will check if the latest changes this remains. The other part of lending is servicing so both need to be considered to find a suitable loan.