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Corey Batt

  • We had a house a while ago which had a converted garage to bedroom (it was actually a display home years ago and that was the office).

    To make it fit in, they had run a row of bricks at the bottom and top to make it a proper large window – i prefer this aesthetically to just putting wall to wall glass which is an obvious conversion which will…[Read more]

  • The key is understanding that cheap doesn’t equal good. Insurance profitability vs likelihood of making claims – so if they’re offering cheaper premiums where are they making the money?

    There are still good cost effective options out there – but the number 1 thing you should be looking at is what you’re actually getting for your money in terms of the PDS.

  • Corey Batt replied to the topic PPOR or Invest?? in the forum Help Needed! 5 days, 18 hours ago

    There’s no one right answer and it’s a blend of financial choices vs emotional.

    A couple years ago it was a no brainer with rentvesting allowing you to grow far quicker – however with the multiple ongoing changes to lending requirements it’s now becoming a very attractive proposition to buy a PPOR first. By doing so in many cases you can:

    *grow…[Read more]

  • It’s completely normal. The valuation for a purchase is completed with a contract of sale – generally signed with exception to NSW etc.

    They’re not going to do a pre-auction valuation, there’s no point to it. You’ll find mortgage manager products are generally pretty restrictive too in these regards.

  • Is this for a pre-approval, or for a purchase?

    It may mean you need to work with another lender who uses a different insurer and remove yourself from the application, dependent on servicing and policy.

    Otherwise there are non-LMI options if need be – it’s just a balance of the overall deal which is the best pathway to go down.

    Speak with a…[Read more]

  • Simple- consistent rollback of planning laws which will increase supply creating greater affordability, but also increase the quality of stock options available. (not having to cram yourself into an apartment/small block – but can live on larger blocks of land etc.

    Look at Houston for an example of how this can work.

  • When we bought our last PPOR – it was in a bushfire zone whilst there was significant bushfires burning a hundred km’s away. Even though it was contained all insurers had a blacklist of writing insurance for those few days in SA so we had to wait patiently hoping no freak issue would emerge.

  • I hear a lot of people say lines about waiting for the next budget, next RBA update, next report – and five years later they still have no properties and waiting for x to happen.

    In the end there will be some form of uncertainty in life – that’s part of the risk on taking any action. If it’s a good investment and you believe it will do well,…[Read more]

  • Organise insurance as soon as you sign contract – you do not want to have a damaged property which you cannot/won’t settle and lead to a long line of expensive legal issues.

  • Nice high voltage power nearby too as well – if you can walk away from this it might be the best option.

  • As Terry has noted – legislation is federal so you shouldn’t have problems with this.

  • Corey Batt replied to the topic Eco Pool As a Value Add in the forum Value Adding 1 month ago

    Generally no real value gain if any for pools – they are very subjective as just as someone may love a pool, otherwise dislike them.

    If you want to do it for personal reasons go for it – but I wouldn’t suggest you’ll increase your value by any discernible amount.

  • Pretty normal for them to deflect blame – it’s very common for the settlement teams to just plonk the funds anywhere. Generally not the end of the world and can be resolved – just a little tedious.

  • Cycling like that will help – ideally so long as it doesn’t auto close your account (some lenders will close accounts if they are paid down automatically), keep the funds in redraw up until you are about to settle and then transfer direct out of the loan account to the third party handling your settlement. (solicitor etc)

  • Corey Batt replied to the topic Serviceability Woes! in the forum Finance 1 month ago

    There’s definitely lenders out there who will work with people where a partner is on maternity leave. Depending on your servicing will depend what’s the best option.

    Mat leave has been an area where the lenders have improved in recent time with their policy – in general we need to have a letter from the employer stating a return date, hours of…[Read more]

  • This isn’t just Westpac – all the lenders are increasing their interest rates significantly to bolster their funds to meet the BASEL requirements. I wouldn’t suggest jumping ship to another lender just because of your existing lender increasing rates right at this moment – you may find by the time you settle your loan the new lender might hit you…[Read more]

  • There’s not real method – that’s crystal ball gazing.

    You can look at previous stats, but what drove those previous gains may not happen again so it’s effectively just you taking a guess.

    Apartments though, supply/demand equation is terrible for them everywhere in Australia as they are built more and more – so you could very well estimate a…[Read more]

  • shouldn’t be too much of a problem- just a normal substitution of security. Security substitutions work a treat as long as:

    *the owner of each property is the same
    *the borrowers do not change
    *there is sufficient equity in the end property to keep the total debts <80% LVR

  • Corey Batt replied to the topic Serviceability Woes! in the forum Finance 1 month, 3 weeks ago

    Plenty of potential options – some lenders will look at this situation more favourably than others.

    Speak with an investment focused broker who can sort this out for you. There’s a wide variety of ways each lender calculates serviceability, it’s just a case of using the right one for the right deal.

  • I find a lot of my clients regularly use Certus Legal – they’ve always been decent to work with from our end.


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Corey Batt

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