Sunday, 13 December 2015

AMP Bank restarts accepting new SMSF – Self Managed Super Fund property loans on Monday 14 Dec 2015

The post AMP Bank restarts accepting new SMSF – Self Managed Super Fund property loans on Monday 14 Dec 2015 appeared first on Oak Laurel.

AMP recommences accepting new Self Managed Super Fund property loans from Monday 14 December 2015

Self Managed Super Fund property loan applications will now (14 December 2015) be accepted by AMP Bank. This is continuing signs that lending is returning to normal, after news that Bankwest increased its maximum loan to value ratio to 90% for investor loans and AMP again recommenced lending to investors.

The basic parameters around AMP Self Managed Super Fund property loans includes:

A maximum loan to value ratio of 70% (note that Oak Laurel has access to SMSF lenders that accept up to 80% loan to value ratios for SMSF property loans).
Only properties established for greater than 6 months (including Off the Plan properties) can be provided as acceptable securities
The SMSF must have a minimum pre-purchase net asset position of $200,000 (prior to any expenses incurred in relation to the proposed property purchase).

The following documents are required as evidence of the net asset position:

The most recent tax return/balance sheet statement for existing SMSFs (must be dated within the last 12 months)
A Statement of Funds for new SMSFs
Bank statements confirming outstanding balances of all the SMSF’s liabilities
A valuation report of the asset dated within the last 12 months is required if the asset type is categorised as ‘Other’ (e.g. Artwork)

The SMSF must pass a liquidity test. The SMSF must hold liquid assets (cash, shares, government bonds, term deposits) amounting to a minimum of 10% of the total SMSF assets after the loan settlement.

AMP recommencing SMSF property loans is another win for people’s choice of investment options within their self managed super funds. Now that the Government has rejected a ban on SMSF property loans we can expect further competition in the SMSF property loan space as other lenders also provide new options.

Looking to compare your SMSF property loan options?

There are still a range of lenders that are offering SMSF property loans including at 80% loan to value ratios. We can help you compare and obtain a SMSF property loan that suits your needs. Ask us!

SMSF property loans

Looking for higher loan to value investment loan options?

There are still a range of lenders that are offering higher loan to value ratios for investment loans. Do you want to compare your investment property loan options? Ask us!

95% LVR investment loans

Has your investment loan interest rate increased?

Make sure that you are still getting a competitive investment loan. Get an investment property loan review!

Investment loan review

Don’t delay act NOW!

+614 30129662

Oak Laurel – SMSF property loans made easy!

Oak Laurel Mortgage Broker

The post AMP Bank restarts accepting new SMSF – Self Managed Super Fund property loans on Monday 14 Dec 2015 appeared first on Oak Laurel.

from Oak Laurel http://ift.tt/1lXOwMo

Tuesday, 8 December 2015

Development finance

Property development and property investment demands special financial knowledge. Oak Laurel have an expert team ready to provide it.

Oak Laurel Finance brokers have specialists who can offer you a combination of property development finance expertise.

We partner with property developers and investors with a proven track record in the residential, commercial and industrial property development sectors. We can deliver a wide range of financial support options, typically including complete financing packages.

The potential of a property project becomes clear while it’s still at the planning stage. In this way we partner with experienced property developers to fund residential, commercial and industrial property developments.

Not all projects are large scale and the type of development finance required will depend on not just the size and complexity but other factors.

How large is your development project?

This should be established before finance is sought. To evaluate the type of finance you need, it can help to classify your project into one of the following:

Light refurbishment

This is the smallest and least complicated type of development project and is usually considered as a cosmetic renovation. This types of project has no or very little structural work and changes are cosmetic.

Heavy refurbishment

More complex than the light refurbishment a heavy refurbishment will mean structural changes, to the existing property possibly an extension. Aesthetic changes are also usually included.

Ground-up development

This is the most complex and involved type of development project. Starting with an empty plot of land or first demolishing the existing building a new building will be constructed.

These different will not only need different amounts of finance by the types and costs also differ.

Are you interest to start a development project? Ask us about sourcing development finance.

Wednesday, 2 December 2015

Self Managed Super Fund loans for property likely to grow into the future

The post Self Managed Super Fund loans for property likely to grow into the future appeared first on Oak Laurel.

Self Managed Super Fund loans for property likely to grow into the future

After the Government rejected the Murray Financial Services Inquiry recommendation to ban on Self Managed Super Fund borrowing to buy property in October it has paved the way for further growth in this sector. The ban of borrowing in a Self Managed Super Fund is one of only two recommendations out of the 44 that the government rejected in response to the inquiry.

This is good news for SMSFs and gives people more options for investment with their SMSF.

Investment in property through SMSFs is likely to increase into the future as certainty in the sector may encourage not just more SMSF operators to consider this type of investing but also as banks and lenders look to more actively compete in this area after being given certainty by the government.

Both borrowing to invest in residential and commercial property are expected to grow into the future.

Are you looking to borrow to invest in commercial or residential property in your SMSF?

Oak Laurel have brokers that can help you compare your SMSF loan options. Find out more about borrowing to buy property in your Self Managed Super Fund here:

SMSF loans

Oak Laurel Mortgage Brokers – SMSF loans made easy!

Oak Laurel Mortgage Broker

The post Self Managed Super Fund loans for property likely to grow into the future appeared first on Oak Laurel.

from Oak Laurel | RSS Feed http://ift.tt/1YIHny3

How Can an Oak Laurel Melbourne Mortgage Broker Assist You?

Oak Laurel's Melbourne mortgage brokers are here to assist you with all your finance needs. What does this mean you may ask.

Oak Laurel can assist you in most situations. Oak Laurel has brokers that can assist you even if you have a special situation!

Oak Laurel help first home buyers to get their first loan and get their foot on the property ladder. Oak Laurel can help people refinancing to a better deal or up-sizing or down-sizing their property and needing to obtain a new loan. Oak Laurel also helps property investors to finance and build their property portfolio. Oak Laurel also has specialist mortgage brokers that can help with the following types of lending specialties:

First home buyer loans;
Home loan refinancing;
Home equity loans;

Reverse mortgages (Seniors Loans);

Construction Loans;
Full doc home loans for self employed;
Low doc home loans for self employed people;
Property investment loans;
Guarantor home loans;
Second home loans;
Bridging home loans;
Non-resident home loans;
457 visa home loans;
Temporary visa home loans;
Immigrant home loans;
Bed credit home loans;
Unusual income home loans;
Unusual employment home loans;

Commercial loans;

Business finance;

Plant and equipment finance;

Commercial property finance;

Property development finance; and

much, much more.
Don't see what you are looking for here contact us maybe we can still help you out.

An Oak Laurel Melbourne mortgage broker can help you to make the right choice on your next home loan or commercial loan.

Your broker will compare your home loan options to find one that is right for you.

Why choose an Oak Laurel mortgage broker for your next loan?

Oak Laurel's friendly team in Melbourne can provide you with:

A free service for most home loans

We are paid a commission by the lender so we will not charge you to arrange most home loans. But don't worry, you will not need to pay extra on your loan, the banks and lender can afford to pay mortgage brokers a commission because otherwise they would need to employee a bank staff and the associated costs of operating a branch. These are costly and when the bank or lender uses a mortgage broker they only need to pay if the loan settles. This can make mortgage brokers a cost effective option for the banks and lenders and allow you the borrow to get a home loan at the same price and often save money by selecting a better loan!

You access a wide range of lenders and loans!

When you use Oak Laurel's Melbourne mortgage brokers you get access to a large group of lenders that are vying for your business. Your Oak Laurel mortgage broker will help you compare from hundreds of different loans that are available and find one that is suitable for your situation and needs. Furthermore, our brokers will be able to assist you through the submission and settlement of the loan and beyond.

We make it easy to get the right loan!

Oak Laurel's mortgage brokers will make the whole process easy for you from the start to the finish. We do all of the running around so you don't have to. In addition and perhaps more importantly our brokers provide expert advice so that you know that you are being taken care of!

We save you money on your mortgage!

Oak Laurel compares lenders and loans not only with loan comparison software but with their own experience to find the loans with competitive rates and fee packages and get the loan that meets your needs and can save you money.

Professional mortgage advice!

Our brokers can provided you with advice on which loans will meet your needs and objectives. Our brokers can assist you with advice on the generally real estate buying process and will liaise with the relevant stakeholders to make sure that your loan is as smooth as possible.

Sunday, 15 November 2015

AMP restarts taking new investor property loan applications from Monday 16 November 2015

The post AMP restarts taking new investor property loan applications from Monday 16 November 2015 appeared first on Oak Laurel.

AMP recommences accepting new investment property loan applications from Monday 16 November 2015

AMP have announced that they will now (16 November 2015) be accepting new investor property loan applications. This is further signs that investor lending is returning to normal, after news that Bankwest has now increased its maximum loan to value ratio to 90% for investor loans. AMP had ceased lending to investors entirely (except when the investor loan was secured against a owner occupied property) as a response to the Australian Prudential Regulatory Authority (APRA) crackdown on investor lending growth above 10%.
AMP is now lending to 90% loan to value ratios, plus lenders mortgage insurance, for investment loans. AMP has stated that its investor loans are replicas of its current product range but with different (higher) interest rates.
Despite the crackdown by APRA there has continued to be lenders that have offered high loan to value ratio loan for investors. However, AMP returning to the investor loan market is further good news for property investors and homeowners that the property market and loan market are within regulator’s expectations. Now we await the Reserve Bank of Australia to stimulate sub-optimal economic growth with a cut to the interest rates.
AMP has also announced that it expects to recommence SMSF investor property loans later this year. This will be another win for people’s choice of investment options within their self managed super funds.

Looking for higher loan to value investment loan options?

There are still a range of lenders that are offering higher loan to value ratios for investment loans. Do you want to compare your investment property loan options? Ask us!

95% LVR investment loans

Has your investment loan interest rate increased?

Make sure that you are still getting a competitive investment loan. Get an investment property loan review!

Investment loan review

Don’t delay act NOW!

+614 30129662

Oak Laurel – Investment property loans made easy!

The post AMP restarts taking new investor property loan applications from Monday 16 November 2015 appeared first on Oak Laurel.

Thursday, 12 November 2015

Australian Mortgage Broker

Australian mortgage broker Oak Laurel can assist foreigners that are buying property in Australia and require an investment property loan to compare options and arrange the loan for them.

It can be difficult for foreigners living overseas to arrange finance for their Australian property purchase. Without using a mortgage broker, finding the right loan can be a long and complicated process for Australians living in Australia. The process for obtaining finance from an Australian bank or lender can be very different from that in a foreigner's home country. Oak Laurel can guide you through the entire process from finding a bank or lender that you qualify for to applying for a pre-approval to the final approval and settlement of the property purchase and loan.

Oak Laurel mortgage brokers have experience with arranging home loans for foreigners living overseas and can make the process a pleasant and satisfying one.

Australia mortgage broker.

Monday, 9 November 2015

Bankwest increases maximum LVR to 90% for investor loans

The post Bankwest increases maximum LVR to 90% for investor loans appeared first on Oak Laurel.

Bankwest increases maximum LVR to 90% for investor loans

A sign that the housing bubble fears and financial system risk are over (or were overblown in the first place). Bankwest is one of the first Bank lenders to start relaxing lending policy for investors. The push from the Australian Prudential Regulatory Authority (APRA) has previously caused Banks and lenders to tighten their lending policies, especially to property investors to contain the growth in investment lending below 10%.

Well it appears that APRA have been too successful, well as far as Bankwest is concerned. As a result of the APRA crackdown, Bankwest had reduced the maximum loan to value ratio for investment lending to 80%. Now Bankwest have increased their maximum loan to value ratio to 90% including lenders mortgage insurance.

With the crackdown on investment lending by APRA, the major Banks and some other lenders had changed their policies to implement measure to discourage investment or risky lending including: tighten borrowing capacity calculations, increases interest rates for investors and reducing the maximum loan to value ratios available. Some have suggested that the approach to containing investment lending was an opertunity for the major Banks and some other lenders to price gouge with rises in interest rate for investment loans netting the major Banks many millions in profit. However, after raising their investment loan interest rate many Banks also decreased their owner occupied home loan rates for new borrowings.

One might question that if the regulator believed that there is a higher risk in the property market that encouraging owner occupiers to enter the market or borrow more is a prudent thing to do. I believe that messing with the property market using such blunt instruments as nation-wide investment loan interest rate increases and reduced maximum loan to value ratios was the wrong thing to do to contain what was essentially a Sydney based property market risk. I believe that these blunt measures have impacted the Australian economy when they needn’t have. When in time we look back on these events most reasonable economists and policy makers will agree that is was the wrong thing to do. Banks are very good at managing risk and restrict lending or loan to value ratios in locations (based on postcodes) where they see higher risk. Measures like loan to value ratios could have and infact are being used to manage risk.

Bankwest investment loans currently still have interest rate premiums over owner occupied home loans. However, the increase in maximum loan to value ratio for investment loans is a first step towards normalisation in the lending market.

Looking for higher loan to value investment loan options?

There are still a range of lenders that are offering higher loan to value ratios for investment loans. Do you want to compare your investment property loan options? Ask us!

95% LVR investment loans