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LEZLI

2 years ago

Yes. That shouldn't be a problem. I have special, non advertised, rates for Investment & Owner occupied. - fixed and variable. Please feel free to contact me via my Profile page. Look forward to hearing from you. Thank you

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Ken

2 years ago

Hi Prasanna, the short answer is yes if your financial position supports the addition of a new loan. The Loan to Value Ratio (LVR) on your current property is moderate and depending on how much you can rent out your current place and your current incomes streams, including your salary/wages will most likely determine if you can purchase your next property. I'd be glad to assist in assessing your financial position and purchasing your next home. Regards, Ken.

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Morris

2 years ago

Hi Prasanna, it seems that you have a lot of experts that can help you with your enquiry in Brisbane, however, if you need a second opinion, i will be happy to assist.

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Morris

2 years ago

Hi Prasanna, it seems that you have a lot of experts that can help you with your enquiry in Brisbane, however, if you need a second opinion, i will be happy to assist.

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Santino

2 years ago

Hi Prasanna, It could be possible. Please let me know if you would like further assistance.

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Dom

2 years ago

Hi Prasanna, If you would like to have a chat over the phone, please email me your phone number and a convenient time to call you and we can break it down over the phone. My email d****@sami****.au Thanks Dom Dzakula

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Dom

2 years ago

Hi Prasanna, If you would like to have a chat over the phone, please email me your phone number and a convenient time to call you and we can break it down over the phone. My email d****@sami****.au Thanks Dom Dzakula

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Phil

2 years ago

There is some great information above - Just a couple of quick questions to be asked. 1) Are you paying interest only on your current investment loan? 2) Have you arranged a rental appraisal for your home to understand what return you will get for your investment?? This information will play a part with assisting the brokers listed above. Good Luck Prasanna T.

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Guido

2 years ago

Hi Prasanna, The question is can you pay a total loan amount of approx $ 510 000? Your income plus the rental income, minus your living expenses would show if you can service this loan amount. In theory yes you can rent out your current property and purchase another property. However; The important of the serviceability has to be addressed first. I recommend you fill in the inquiry form on this web page and a broker close to you will contact you. This broker will be in a position to establish your borrowing capacity and answer all the other questions you may have All the best

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Angelo

2 years ago

Hi Prasanna, Thank you for your question. There are two important figures we need to calculate, firstly the loan to value ratio (LVR) of both properties to work out how much you have to borrow, in other words total values less any deposit you are prepared to pay plus the outstanding mortgage = total loan. Secondly we need to calculate your loan repayment affordability tests and if you pass then you can confidently go and negotiate on the home you want to live in. I hope this answer is of some assistance to you. Kind Regards, Angelo.

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kelvin

2 years ago

With a valuation of $300k @ 80% = $240k - $210k is $30k. So you can reduce LMI costs with your equity as OO. You can then purchase at 95% + 2% of the LMI costs - and you will be short around $5k. Thats the 1st part of lending - Equity. Income servicing would required your annual pay (base) + any commission or bonus (and spouse if applicable) - along with an Credit card limits, personal or car loans and dependents. Rent of course would be added on and used at 80% for servicing. Happy to assist

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Patrick

2 years ago

Hi Prasanna, thank you for your question. Based on the information provided, if you purchase the proposed property your total loan to value ratio (LVR) will be approx. 87% & therefore lenders mortgage insurance would apply. It is possible to structure the new purchase however we would look to firm up the figures, organise a valuation of your current property and calculate the income to ensure sufficient borrowing capacity. We would organise a loan pre approval to provide you with the comfort to proceed with the purchase. If you wish to organise please contact me through my profile.

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ARTHUR

2 years ago

Yeah, this wont be a problem. I am happy to arrange a free discussion to run through all the information required.

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Prabuddha

2 years ago

Prasanna , As per your comment property value 300K and loan outstanding 210K , seems there is extra equity. You will need to go through your overall burrowing capacity , with that extra equity and savings you hold and based on your current financial situation there could be opportunity to purchase another property. i suggest you to speak to a mortgage adviser to look at options. - Pra

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Karen

2 years ago

Hi Prasanna, Yes you can rent out your current property and buy another to live in. There are a number of ways this could be done and I would like to take the opportunity to assist you. I am on the Gold Coast however a lot of my clients are in Brisbane. Just click on my profile and I will contact you to go over your options. Regards Karen

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George

2 years ago

Hi Prasanna, the situation you mentioned is certainly possible but always we would need to review your individual situation to ensure it works for you. Feel free to get in contact for a more detailed conversation.

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Albert

2 years ago

Hi Prasanna, Great question, Yes you can move out and rent your existing property and convert it to an investment. The only question is really about you ability to service ( afford0 the loan repayments on both loans. I would suggest you ask to be contacted by one of the Hashching brokers who will be able to calculate your borrowing capacity to work out how much you can afford. And also importantly to ensure that you get the right advice so as not to create problems with the tax deductibility of your existing loan. Hope this helps Awesome Albert

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Dhaval

2 years ago

Hi Prasanna, You can rent the current property and buy another one to live in. We will need to assess your specific situation based on your income, deposit and other debts that you may have. I am in Brisbane, if you want to get in touch with me please click on my profile and select contact me. I look forward to assisting you with your home finance needs. Regards Dhaval

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Sam

2 years ago

Yes you can do that. We can assist you with this if I like?

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