PropertyInvesting.com | Finance Friend | Activity https://www.propertyinvesting.com/members/finance-friend/activity/ Activity feed for Finance Friend. Wed, 15 Apr 2026 02:53:42 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 6b996daa6c3024d6c5b5f986c9de1dfb Finance Friend replied to the topic THE NEXT STEP in the forum Help Needed! https://www.propertyinvesting.com/topic/4389542-the-next-step-2/#post-4567420 Tue, 08 May 2007 15:14:41 +0000 Hi Johann. Agree with John – in the sense that you need to be comfortable with the commitments. It's great to own multiple properties, but if they cripple you financially, it aint worth it.However, Im a big believer in turning money into money. 20% equity in property can get you off and running with another property. You dont need to look big,…[Read more]

]]> 41cee1fe48174a69b54b2a4649be763a Finance Friend replied to the topic IO loan on PPOR?? in the forum Finance https://www.propertyinvesting.com/topic/4389499-io-loan-on-ppor/#post-4567256 Tue, 08 May 2007 14:20:22 +0000 CJ, depending on loan size, a few good ones to look at:Bankwest  – 7.35% with 100% offset (7.30% for > $1m)ANZ One – 7.37% with 100% offsetWestpac – 7.37% with 100% offsetAlso, limited lenders allow 100% offset on a fixed rate, 7.35% 3yrs, which interestingly enough also has a redraw facility (not common with fixed rates)Hope this helps.Rgds,Rob

]]> bf47e4b2c508b70668396cb45ad17971 Finance Friend replied to the topic Commercial loan: WHY? in the forum No Subject https://www.propertyinvesting.com/topic/4383637-commercial-loan-why/#post-4537884 Fri, 30 Dec 2005 17:13:18 +0000 Cabo, can only agree with above. Westpac do many things the hard way. It should be the security nature that determines where the application falls; consumer or commercial

Commercial security, whether it be an individual or corporate/trust borrower will be treated generally over a reduced term, 15-20yrs, with rates on average 0.5-1% higher than…[Read more]

]]> b52eb6149055ad7c95562492ff241434 Finance Friend replied to the topic Need a great loan? in the forum Forum Frolic https://www.propertyinvesting.com/topic/4382929-need-a-great-loan/#post-4534011 Tue, 01 Nov 2005 01:31:30 +0000 Redwing, thanks for the introduction. My Fantasyworld Mortgage Specialist has just given me the approval to buy Brazil! Even more, the first 75 years are to be interest free! I love their “wink wink” contract-free “can do” attitude!

Rob

Rob Whyte
Certified Mortgage Consultant MIAA

Principal & Licensee
The Mortgage Gallery
e…[Read more]

]]> 335e0cdcb6c33f34ec463785520d812a Finance Friend replied to the topic max lvr on commercial building in the forum Finance https://www.propertyinvesting.com/topic/4382962-max-lvr-on-commercial-building/#post-4534154 Tue, 01 Nov 2005 01:23:55 +0000 Hi Lawrence, look at IMB (illawarra Building soc) have set deals with them to 75% quite comfortably, must be arms-length, nothing speccy, also paramount mortgages will do 80% need be (havent used them) but looked seriously a few times.

Regards,
Rob

Rob Whyte
Certified Mortgage Consultant MIAA

Principal & Licensee
The Mortgage Gallery
e…[Read more]

]]> 2aa5f5ed6623f908fc027ed9853dea0e Finance Friend replied to the topic Remote Location Lending Ratios in the forum Finance https://www.propertyinvesting.com/topic/4382943-remote-location-lending-ratios/#post-4534058 Tue, 01 Nov 2005 01:16:55 +0000 justgjt, it is the opinion of some banks that this area (as Richard aluded to) can be hard to market for a quick sale.

However, I am WA based and have just returned from Karratha last week presenting the changing views of some lenders in this region to real estate agents and builders. Obviously with you having some knowledge of the region, would…[Read more]

]]> bb415b9f8f5e7c11a845c4ce89e27804 Finance Friend replied to the topic mortgage discount rates in the forum Finance https://www.propertyinvesting.com/topic/4382665-mortgage-discount-rates/#post-4532417 Wed, 12 Oct 2005 03:19:24 +0000 Achw, also, when looking stay away from the lenders offering super low rates, they’re generally an intro rate, reverting to a standard variable or higher rate after a specified period time (6-12m). They will generally always be more expensive compared to an overall lower rate upfront.

They will have exit fees and/or other costs if you choose to…[Read more]

]]> 81293ba4523e88947392b21da13b7776 Finance Friend replied to the topic construction finance in the forum Finance https://www.propertyinvesting.com/topic/4382641-construction-finance-2/#post-4532260 Tue, 11 Oct 2005 14:28:56 +0000 Dallasm, vacant land is not a security many lodoc lenders will accept. Also, the few that do, will limit the LVR to generally 80%

I know of some that will do 90% on vacant land as lodoc, but will charge higher rate/fees, something you said you werent prepared to do.

I tend to agree with Simon, if you’re pushing your limits with servicing…[Read more]

]]> 0bb322e0551d7f151d756a642ff01fba Finance Friend replied to the topic P.I.G.T. in the forum Heads Up! https://www.propertyinvesting.com/topic/4382629-p-i-g-t/#post-4532213 Mon, 10 Oct 2005 11:18:14 +0000 Great idea John. This is the enthusiasm and interest that I enjoy most on this list. I wish you well in your endeavours to financial freedom!

It is good to talk with likeminded people, it helps solve problems. I have had some good advice from people on here so I hope you are able to find people with similar aspirations as yours to help you…[Read more]

]]> b0790d3e83aaae6fa2d05ab634e1d70a Finance Friend replied to the topic "Bonus" counted as income? in the forum Finance https://www.propertyinvesting.com/topic/4382621-bonus-counted-as-income/#post-4532166 Mon, 10 Oct 2005 10:18:18 +0000 ET, Stu’s pretty spot on. Minimum 2 yrs under your belt and generally accepted by most.

However, if it’s paid quarterly or even monthly, dependant upon the type of work, it may be considered as “prop up” income to mitigate a shortfall in servicing and you may have success with even as little as 12 months, however would need good confirmation of…[Read more]

]]> 400bf290ee43088758b7d346b9b0fc44 Finance Friend replied to the topic LMI Refund in the forum Finance https://www.propertyinvesting.com/topic/4382582-lmi-refund-5/#post-4531872 Sat, 08 Oct 2005 01:30:12 +0000 ned, if you just amortise/reduce the loan to within 20% within 12 months, you quite possibly wont get it. You’d need to close down / terminate that loan contract to stand a chance.

If you setup a new loan with your bank to payout the old loan, you wont pay stamping again, standard fees/charges, however may be elegible for rebate. Again, check…[Read more]

]]> 286bfa39a8e0e93b603c664282f46db0 Finance Friend replied to the topic Which way to finance? in the forum Finance https://www.propertyinvesting.com/topic/4382584-which-way-to-finance/#post-4531880 Fri, 07 Oct 2005 06:25:02 +0000 Unfortunately, the only way to have one loan is to break the other. However, you say you’re fixed at 6.79% enquire with your bank the “ERF” or Economic/break cost of the fixed rate. You may find it may be negligible if any at all. However, generally in a falling market the exit fee increases (as the lender would prefer you to remain at a higher…[Read more]

]]> 076e6fc57e409083fd0cf7211e9c6e02 Finance Friend replied to the topic Best way to finance? in the forum Finance https://www.propertyinvesting.com/topic/4382521-best-way-to-finance-3/#post-4531495 Mon, 03 Oct 2005 09:49:32 +0000 S.O. lodocs are an option, however most lenders only recognise lodocs with an ABN being registered 2yrs or greater and usually to a maximum lend of 80% (or 82%) Im assuming neither of these are options?

So unfortunately I think you may be dead in the water because of the LMI and ABN issues. However, saying that, I do know of a lender that MAY…[Read more]

]]> 580c649a509f3c7f9dae5686cf0125c5 Finance Friend replied to the topic on the fence, too in the forum Help Needed! https://www.propertyinvesting.com/topic/4382487-on-the-fence-too/#post-4531350 Sat, 01 Oct 2005 01:34:59 +0000 Hi Kwaidan,

not sure if you’re earning any income in Aust (ie: lodging an Aust ITR?).

2 options – throw down all deposit to minimise mortgage and respective repays – look at i.o vs P&I, depends upon your strategy. Being non-res, the IP really wont provide too much benefit to your o/s income. Not sure about Japan and their tax laws, but if your…[Read more]

]]> 5a8dfe757b8ccaff61fd2096fae97a67 Finance Friend replied to the topic Finance Brokers in the forum No Subject https://www.propertyinvesting.com/topic/4382466-finance-brokers/#post-4531245 Thu, 29 Sep 2005 02:27:15 +0000 Sampson, this can be handy! If you’re selling through an agent, the agent can use it as leverage to potential buyers, by stating that if they ring “Bill” and are elegible for finance, he will present their offer to the vendor (yourself) in the best possible light. They dont necessarily have to proceed with Bill’s finance.

Helps weed out the tyre…[Read more]

]]> bba7d74eb484bfb02f8ff8c2a1bf1299 Finance Friend replied to the topic "Buy & Hold", but how long? in the forum Help Needed! https://www.propertyinvesting.com/topic/4382443-buy-hold-but-how-long/#post-4531049 Tue, 27 Sep 2005 10:44:18 +0000 Maruco, it’s the land component that you want to “hold” as long as possible. Improvements on land, in this case a dwelling, are a depreciable item. Although property prices increase over time, the dwelling in fact does the opposite. Bear in mind, all properties will require maintenance, it’s like buying an old car vs. new car. If you hold it long…[Read more]

]]> 9c3136fb8f12c5567f079f1a5ffcb987 Finance Friend replied to the topic Any experience with St George Profesional Package? in the forum Finance https://www.propertyinvesting.com/topic/4382417-any-experience-with-st-george-profesional-package/#post-4530917 Tue, 27 Sep 2005 02:58:08 +0000 Another option, if you’re chasing a prof package purely for rate discounts and offset, Macquarie offer a fairly good product, they offset on their basic product, giving you a fairly competitive rate without the annual fees. Also, lenders offering fixed 3 yrs with offset AND redraw on the loan.

Prof pkgs have their merits, but sometimes are over…[Read more]

]]> 1d788f0805ddb0c87dbbf24f3495dc66 Finance Friend replied to the topic Increase your Serviceability in the forum Finance https://www.propertyinvesting.com/topic/4382365-increase-your-serviceability/#post-4530554 Thu, 22 Sep 2005 10:36:17 +0000 Serviceability is always the problem when you adhere the buy&hold policy.

Banks become more and more conservative the more your exposure increases. Some banks limit borrowing percentages, lower than 80% as your loan book with them grows.

One of the biggest traps, is cross-colateralisation. A mouthful, but simply put, the banks cross-lend one…[Read more]

]]> 5ad754c63007c73d7cbcd8a8908806f6 Finance Friend replied to the topic NODOC + LODOC ??? in the forum Finance https://www.propertyinvesting.com/topic/4382367-nodoc-lodoc/#post-4530577 Thu, 22 Sep 2005 10:17:13 +0000 Also referred to as lite doc or easy doc, they refer to the application paperwork. Even still, it’s not exactly reduced much !

Another main difference worth noting, is lo-doc loans are offered by most banks and lenders in one form or another now. Banks and lenders securitise their loan books with these sorts of loans, which requires mortgage…[Read more]

]]> fa8a96a0e06e2d9e4852fc8f832467e9 Finance Friend replied to the topic Accessing Equity in the forum Finance https://www.propertyinvesting.com/topic/4382347-accessing-equity-4/#post-4530430 Thu, 22 Sep 2005 07:01:53 +0000 Hi Burlboy, as Megan and the others have alluded to, equity can be redrawn and made availanle via a line of credit or fully-advanced term loan.

Unlike the rest of the country, our WA market still appears to be very strong even in the rural and south-west area. We just settled on an IP in Busselton 2 months ago and still amazed at the interest in…[Read more]

]]> 7e2e111b20c38f560d0ad01a1a5e245e Finance Friend replied to the topic Commercial property vs residential in the forum Help Needed! https://www.propertyinvesting.com/topic/4382260-commercial-property-vs-residential-2/#post-4529885 Tue, 20 Sep 2005 14:37:22 +0000 Craig, Nigel’s point is a very valid one. Often you may pay an inflated price for a good tenant, as commercial is generally return-orientated. Another thing to consider, is the potential GST issues. A standard PAYG (non-GST registered borrower) may pay GST on the purchase price, however the lender will nett the purchase price for their lending…[Read more]

]]> 60713bef0e72f1f3cb9818c5bd7e5022 Finance Friend replied to the topic Between Two Rocks and Jurien - Perth in the forum Help Needed! https://www.propertyinvesting.com/topic/4382338-between-two-rocks-and-jurien-perth/#post-4530357 Tue, 20 Sep 2005 14:14:26 +0000 Lancellin is a terrific spot, only 1 hour north of Perth, Im quite a fan of it. It is a tourist haven especially over long weekends and school holidays, however I consider it quite pricey in comparison to surrounding areas. Ledge Point is about 10 mins south and I believe has more to offer, but it all depends on what sort of investment you’re…[Read more]

]]> 5ccd5cd012c8766be89184affdba05b5 Finance Friend replied to the topic help on 2nd morgages(vendor finance) in the forum No Subject https://www.propertyinvesting.com/topic/4382316-help-on-2nd-morgagesvendor-finance/#post-4530197 Tue, 20 Sep 2005 14:05:42 +0000 Paula, the major banks and lenders will generally bawk when they hear about vendor terms, as they usually involve a 2nd mortgage being registered by the vendor and/or a caveat.

The contract of sale by offer and acceptance, or O&A (as used in WA) details terms of purchase including deposit and other conditions. THis is normally where your vendor…[Read more]

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