[hilaryMember@hilaryJoin Date: 2002Post Count: 146]

December 24, 2002 - 1:06 am

If you have it re-valued (u will have 2 pay a small fee to transfer this valuation to the lender, as well as cost of valuation), then start asking a few lenders, this should be possible. If u just approach the lenders, they will use their own valuer (some will insist on this anyway – give them a miss) and some of these could be drive bys made by their own staff at a fire sale level – not what u want![^]
Hilary

[hilaryMember@hilaryJoin Date: 2002Post Count: 146]

December 24, 2002 - 12:57 am

The lenders will look at things like family allowance….if it’s for older children and may cut out within a few years, then they will consider her risky, but there are many lenders with different criteria, so put out feelers with brokers in your area before you sign her up.[]

[hilaryMember@hilaryJoin Date: 2002Post Count: 146]

December 23, 2002 - 10:44 am

My husband is relatively new – 6 months- to brokering, and has learnt much, tho’ he had previous experience with ING bank. My advice to you is to look for someone who understands what u want to achieve, and ask their processes/fees/time frames – they will vary widely. Find someone u can really talk to, and who doesn’t come over as an amateur. Lots of brokerages have people with long experience in dealing with lots of different bank/non bank lenders – don’t be afraid to ask any question.

[hilaryMember@hilaryJoin Date: 2002Post Count: 146]

December 23, 2002 - 8:32 am

Family Tax Benefit is income assessed………been there done that and it’s very complicated for self employed who have great accountants like mine(who get our incomes down low)….Judy Anderson at One 2 One Accounting Southport – will deal with people all over oz……..not sure about os, but probably. Her number is 07 55 327622 if u need a good one.

[hilaryMember@hilaryJoin Date: 2002Post Count: 146]

December 23, 2002 - 8:17 am

An important note on this – mortgage insurance previously paid, should be refundable against a new insurance – check this out – this comes from info by GE mortgage insurance, so like other insurance, say your car, you should get a partial refund to defray the new policy. Self insurance does not mean the banks assume the risk, merely that they pay for the insurance up to 80% LVR[][]

[hilaryMember@hilaryJoin Date: 2002Post Count: 146]

December 23, 2002 - 7:59 am

It should be possible to transfer a mortgage – as in a case where we did a vendor finance via mortgage – if someone wants to buy the mortgage deal from us, it is simply a transfer, then the new mortgagor would receive the income not us. This is not what was being queried, but if you can find someone who is in trouble, their bank would probable like to talk turkey – it really is easier for them not to go to court.