quick and dirty servicability test

Can someone do a quick serviceablity test please?
We are both working with a combined income of 104K
We have on villa unit on which we owe 167k. We bought it for 180k. Its worth 200k.

Assume that we have no debts but the above mortgage.

If we add a 22k LOC on the above equity (back up to 95%LVR),
and we add a mortgage for a 280k property (also 95% LVR) so assume 266k loan, how are we for serviceablity at this stage? How many more 250k properties can we buy before we hit a servicability issue.

Will lenders take into account the distributions from funds (like Navra) when calculating serviceability?

Cheers
the voigtstr

 

Can any of the brokers here do a quick check?

 

Mate, asking like that is kinda like asking 'How long is a piece of string?' or 'What fund should I invest in?'. Best to contact a broker directly so they can ascertain your personal situation a little more closely to see what you can do. Kinda spins me out how people are willing to lay all their financial cards out on the table for thousands of strangers to read.

Rolf Latham is fantastic, you can contact him at [email protected]. If you would prefer someone closer to home, there's Rolf Shaefer, Medine Simmons, Kristine (surname escapes me just now), PT Bear (Peter Tersteeg, hope I spelt that correctly Peter!) all in Melbourne. You can find them all on Somersoft forums. Dunno any Tassie brokers, although GoAnna might - she has a number of props in Tasmania and there's a real estate fella from Tasmania that posts on Somersoft as well.

Mark

 

I specified the intended debts, and I specified the income. What else would you need? "Assume that we have no debts but the above mortgage"