The two options should be separate for you… ie, you pick how long you want to have your loan I/O for, and you pick if and how long you want your rate to be fixed by.  You can have your loan variable and I/O if you like.  You can have your loan I/O for 5 years, but the rate fixed for 1, 2, 3 yrs etc.  There are a few restrictions on the co…[Read more]

Each state has their own set of regulations at the moment relating to mortgage broking.  Currently, I believe, brokers in Victoria are required to give their clients a document to sign appointing them to negotiate on behalf of their clients – this is supposed to outline any fees.The current regulations outline that brokers can charge anything…[Read more]

People buying newly constructed property in NSW valued up to $600k will get a 50% stamp duty cut.The changes come into force from July 1, 2009 and will be reviewed December 31st.I'm not sure about other states, but I'll be looking into that in the morning.  For more information on the NSW cuts,, v…[Read more]

I've heard the most stupendous things coming out of the mouths of some people at the bank.  Some of them really know what they're talking about, but some of them are just downright dangerous.  Best to be on the safe side and get your "advice" separate to your products.  I'm with Richard, don't cross collateralise – he's got a good article on hi…[Read more]

Sure  Richard,We had a private offer from one of our insto banks that we work with to pick up units in an undervalued property trust which they funded at 60% – the return was actually a little higher than that and took about 3.5 yrs.  It's come back a little since those guys gave us the testimonial, however we managed to pull most of our clients o…[Read more]

I would seek legal advice on this one – I believe you may need to appoint them as an "Alternative Director" with ASIC as Directoral issues are distinct from personal duties.   It may not fall under your PoA.Again, seek legal advice at the time of having a PoA drawn up.

Ah ha,  yeah.Amazing grasp of sales statistics you have there.All I can say is take things at face value, do lots of research, and where possible get an independant point of view.  I hear all too often that you should never get emotional about your money – listen to the emotions, they might be telling you something.  Listen, but don't be le…[Read more]

I agree with Terry, I think you should get proper advice on the situation.  There are some complex issues in there that need to be worked through.  Additionally, an hour or so with someone working through all the issues and having them explain the concepts to you will be an invaluable use of your time.From a financial perspective, you have a one o…[Read more]

Banks will typically go off the historic purchase price, so if you paid $350k for it, in their eyes that's what it is worth, and they will say you have no equity.  However, your true equity in the property is it's current valuation minus what you owe on it.  For starters, you can get an agent in the area to give you an appraisal (usually free) w…[Read more]

80%  loan with a 100% offset account can be found with pretty much every major – you'll find it hard to get a true offset account with a mortgage manager.Main issues I believe you should look at would be the specific structure, rate, fees and processing time (if timing is an issue).  Different banks will have better pricing than others depending o…[Read more]

I’m over the whole “my car is flashier than yours” – so I ride a scooter now and pass all the Mercs & Porches on the way into the office while they’re sitting still in traffic