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There’s no denying that the days where money was freely distributed by banks in the form of low doc and no doc loans are well and truly behind us. With the credit crisis in the US forcing Australian banks to conduct a complete overhaul of their own credit policies to ensure they didn’t suffer a similar fate to many of the American majors who went under in 2008, it has become increasingly difficult to secure finance without meeting the new, stricter application guidelines.

 
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Lender’s Mortgage Insurance (LMI) can be a helpful tool for investors to build their property portfolios.  In a moment I’ll explain how investors can use LMI creatively to buy more property, but let’s first start with an explanation of what it is…

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With the very real need for increased housing over coming years, residential development is an attractive investment option for many people.  It has the potential to generate significant equity when well planned and executed.

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Do you really want to rely on the Government and compulsory Superannuation to give you a meager income…perhaps with no pension at all by the time you retire?  Growing a passive income is probably the most important step in the process of setting up for retirement. A passive income comes in regardless of your work.

What is the sure path for those that procrastinate planning? Working past retirement age because you have to, not because you want to…perhaps asking for handouts…or living frugally.

 
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The sad fact is that most financial planners can’t provide you with balanced, impartial and independent financial advice even if they wanted to. That’s a scary statement, I know!

In my experience, the people that need financial advice and guidance the most (i.e. people that aren’t financially savvy), are the ones that seem to get “sold” the poorest quality advice. It’s almost like some planners take advantage of the fact that these people are easily bamboozled.

That’s why I am so deeply passionate about the need to increase the level of honesty and integrity in the financial planning industry. Read on to find out more...

Cross-collateralisation is an important loan structuring issue of which many property investors are not aware. Knowing the implications of cross-collateralisation is crucial to developing a long-term property portfolio.

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Broadly defined, serviceability is the ability of a borrower to meet loan repayments, based upon the loan amount, the borrower’s income, expenses and other commitments. This generates an overall figure, known as the debt service ratio – a borrower’s monthly debt expenses as a proportion of monthly income. Most lenders set a maximum debt service ratio of between 30 and 35 percent.

Having a basic knowledge of how serviceability is calculated can help people to understand and, if necessary, rework their finances in preparation for obtaining a loan for the purchase of owner-occupied or investment property.

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