Total Members: 158,351

cubman09

  • cubman09 replied to the topic Best property investment lender for the self employed? in the forum Finance 11 years, 10 months ago

    RIchard,Its not advertised is it, so you just have to ask i suppose?Regards,AM

  • cubman09 replied to the topic Best property investment lender for the self employed? in the forum Finance 11 years, 10 months ago

    Hi Richard,Must not be a mainstream as QBE and Genworth policy doesn't allow.May i ask who? As he would be very unlikely.AM

  • cubman09 replied to the topic Best property investment lender for the self employed? in the forum Finance 11 years, 10 months ago

    Hi Peter,Very hard to get a loan with one (1) year of returns considering you would not have lodged the current return for the business and would be all based on your PAYG income (i assume) prior to purchasing the business in Sept 2011. Especially at 90% would be impossible.But, at 80% should you have been within the same industry from PAYG to…[Read more]

  • cubman09 replied to the topic Who will loan to SMSF to borrow for property at 40% LVR? in the forum Finance 11 years, 10 months ago

    Hi House Call,Pretty common product nowadays with most banks and lenders getting a part of it. Best to look around as they are definately out there at that LVR.AM

  • cubman09 replied to the topic Studio Apartments (less than 50sqm) in the forum Finance 11 years, 10 months ago

    xdrew wrote:
    Kirsty .. I would be repeating myself if I said that your current option for purchasing a unit under 50sqm is a bad idea .. i've written almost the same thing over and over on this forum regarding that option.

     Hi Kirsty,Very much agree with xdrew on this one. Most lenders keep it at 40-50m2, but this small is not much interest…[Read more]

  • cubman09 replied to the topic 85% finance in the forum Finance 11 years, 10 months ago

    Hi Keiko,Also, with 85% you could have LMI as you also wont need to demonstrate 5% genuine savings and may be able to obtain the LMI from family etc.AM

  • cubman09 replied to the topic bank holding up settlement in the forum Finance 13 years, 5 months ago

    Its frustrating but as Terry & Richard say it is extremely common.The banks will delay settlement for as long as possible in order to obtain some further interest payments. Look at CBA have a 30 day discharge notice and are no flexible on this in most circumstances as they want to make money.I had the same situation were my property settlement was…[Read more]

  • cubman09 replied to the topic LMI Question in the forum Hi Matt,
    What a complete
    13 years, 5 months ago

    Hi Matt,What a complete load of crap Adelaide Bank are spinning. If anything if you have not been with Adelaide Bank that long you can possibly seek a refund as the LVR is now <80% on Full Doc (PAYG) loan.I would look to refinance straight away as the loan is provided by Adelaide Bank, however as Genworth provide the Lenders Mortgage Insurance…[Read more]

  • cubman09 replied to the topic Two lenders or one in the forum Finance 13 years, 10 months ago

    But i can withdraw littler amount so it is a lot more flexible. A lot more flexible. Sorry Banker do you work with CBA?

  • cubman09 replied to the topic Two lenders or one in the forum Finance 13 years, 10 months ago

    I reckon the Westpac Rocket is brilliant for your means. I love the flexibility.Regards,Andy

  • cubman09 replied to the topic Home loans drop to 9-year low in the forum Home loans drop to 9-year low 13 years, 10 months ago

    Definately seeing a drastic decrease across the board. A lot of the mortgage brokers i speak to feel the same way. There are a lucky few at the moment, but banks are becoming more restrictive. But i think thinks will look up later in the year.

  • cubman09 replied to the topic Troubling Situation in the forum Help Needed! 14 years, 3 months ago

    Hi Sonya,They have contributed equally. Do i take the profits and run as i have been told you should never sell. Six years and the growth is about $90K, They will inherit the property anyway, so we can diversify into further investments and look to use that later on. We also have to weigh up the tax benefits that help at tax time.Should we go and…[Read more]

  • cubman09 replied to the topic Low Doc Loans to 80% without LMI in the forum Finance 14 years, 4 months ago

    Im not in the position to argue with you. LMI can be very expensive and you should know of the lenders mate.Maybe have a look around as i know of a few and its not a risk fee. Its an Application Fee. Various banks/lenders have a risk fee which is seperate to this as you should well know.The person wanted some information about 80% Low Doc and its…[Read more]

  • cubman09 replied to the topic Appealing a valuation in the forum Finance 14 years, 4 months ago

    Basically, it is done for the purposes of lending for the lending institution. The borrower has no legal right to have the report released. It is the lending institution who ultimately decides.

  • cubman09 replied to the topic Low Doc Loans to 80% without LMI in the forum Finance 14 years, 4 months ago

    Richard,Hate to say it then you are not giving your customers the service they ask for.There is no risk fee. 1% App fee. Thats it. Have a good one.AM

  • cubman09 replied to the topic Investing. What to do? in the forum Thanks Richard,
    Will keep in
    14 years, 4 months ago

    Thanks Richard,Will keep in mind. Any other tips. Will contact you in the new year.Kind Regards,AM

  • cubman09 replied to the topic Thinking of buying first IP in the forum Loose Nut,
    Discuss with your
    14 years, 4 months ago

    Loose Nut,Discuss with your Accountant is the best bet. In QLD possibly!Kind Regards,AM

  • cubman09 replied to the topic investment partners in the forum Etty,
    Terry is right. This
    14 years, 4 months ago

    Etty,Terry is right. This could be a major stumbling block especially if it gets nasty. Have seen it happen before.Have an exit strategy in place as that party who doesnt want it anymore may stop making payments etc. Caution and your due dilligence should be paramount.Kind Regards,AM

  • cubman09 replied to the topic Thinking of buying first IP in the forum Hi Loose Nut,
    My brother has
    14 years, 4 months ago

    Hi Loose Nut,My brother has moved out of his PPOR and is living with me at the moment as he has moved back from Perth to VIC and renting out the property. His Accountant has advised him of something similar to the 6 year rule, but it all depends on how long you have resided in the PPOR before changing it to IP believe and he can sell within 2…[Read more]

  • Hi All,Under the AML/CTL legislation it is far more difficult. Kind Regards,AM

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