[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

November 10, 2010 - 5:47 am

probaly was but thanks for that link

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

November 5, 2010 - 5:12 am

well i got told by a broker if you have say 2 securities with the same bank they are deemed to be separate loans and different securities can be secured against these properties at a later stage or “refinancing”. This doesn’t technically cross cat the loans but if you default on your loans or repayments and somehow the banks wanted there money they could take both 2 securities to the cleaners.

I also got told its best to setup your loans with different banks spread the mustard around may be a little more time consuming and maybe at some stage banks might not lend as much but iv been told its safer.

It was a little to late for myself to take my latest property purchase to another bank i found this out a little late, but if it helps you good luck.

Hope i explained this ok i’m only learning my self and ain’t no broker or bank manager so my word isn’t the gospel.

cheers
Bill

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

November 5, 2010 - 3:05 am

keep in mind the all monies clause! only if your crossing it with the same bank & separate loans. i only learned about this the other day.

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

May 11, 2010 - 5:37 am

Hi Brad,

With so many defaults within 5years i highly doubt you will get finance through the big banks especially if you need to use Mortgage insurance.

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

November 4, 2009 - 2:53 am

nope i haven't i done exact same thing as yourself i had to change my loans over to IO from PI set this up wrong from the start.

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

September 28, 2009 - 3:20 am

thanks
i may take these guys up on the gold package so cheap! iv been quoted $500-650 for a report done on my house

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

September 27, 2009 - 10:52 pm

hey Nafe,
shoot me a pm with the details

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

September 14, 2009 - 4:22 am

not worth the risk of paying back $17000+ and fines!

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

September 10, 2009 - 10:39 pm

hmmm

Richard am i right in my last post? or can you correct me

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

September 10, 2009 - 1:16 am

Thanks Richard my broker can get me 97%LVR because i am an existing customer i think thats including LMI. So on my new property would i be paying LMI based on my total debt? or just on the new property? i don't quite understand

if my total debt is 103% with my bank and say i wanted to sell for an example would the total LVR on both securities need to qualify at 97%LVR or does the comibined securites need to meet 97&LVR? based on capital growth and appreciation. not with my putting any of my own money in.

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

September 7, 2009 - 2:33 am

Hi Guys,
can anyone recommend someone in melbourne?

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

July 6, 2009 - 3:33 am

Cheers Mike
Real eye opener to read the reports should of done the hunting around prior to purchase but i didn't know

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

June 1, 2009 - 11:35 pm

Hi Rich71,

iv recently ultilized the FHOG & PPOR consession
FHOG is paid before or on settlement you don't see it all happens in the back end
PPoR concession is done at settlement i acutally recieve my stamp duty concession about 3 days after settlement.

hope this answers your question

cheers
Bill

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

May 22, 2009 - 6:24 am

i done a caveat purely for peace of mind it only cost me $70 odd dollars
i don't know were they got that figure from

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

April 9, 2009 - 5:19 am

least they are cutting them!
im happy my bank pulled its finger out "westpac"

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

April 8, 2009 - 11:04 pm

Richard
Wont be it be tax deducable sorry? im learning all of this

I have my PPoR and don't have a offset account as yet i want to knock off some P & I first, then have my loan offset capable.
will i be able to claim tax or interest on my rent still or if i redraw out of my equity? btw i will have someone living in after the first 6months due to my FHOG so i need to live in there first.

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

March 26, 2009 - 5:31 am

Richard,

Wow that information i did provide was based on pre approvals back at the end of febuary when i was looking at house loans. I am guessing with the fincial crisis the banks are tighening up there lending requirements.

all the best Dank

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

March 25, 2009 - 9:47 pm

dank,
i recently got a loan new job same idustry on a probation through westpac no worries, apprently commbank don't care thats what my broker told me.

i just had to provide a letter saying i am doing really well and i am working full time didn't mention the probation.

good luck

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

March 16, 2009 - 4:36 am

is it worth switching if i most probaly be moving in as my PPOR within 2yrs?
I definatley want my next property to be a full offset interest only

thanks Richard

[coretexParticipant@coretexJoin Date: 2009Post Count: 25]

March 16, 2009 - 4:13 am

Hi Maree

Thanks i have emailed you

my loan is with westpac flexi first principle & interest i do eventually one day move into my house to live and have 1 or 2 IP interest only loans.

Cheers