Accounting & Tax Manager
Price Accounting Services Pty Ltd
Unit 11, 1 Central Avenue
Thornleigh NSW 2120
Ph 02 9875-2444 (61-2-98752444)
Fx 02 9481-0594 (61-2-94810594)
There’s nothing stopping them – but if they do get caught they may be penalised. It’s not common at the moment – but no doubt lenders will become more observant with tracking this into the future.
As a very general rule – valuations for refinancing tend to be on the conservative side. It’s not uncommon for a valuers estimate to be less than the client believes their home to be worth.
On the flipside – it’s not uncommon for purchase valuations to come back at the purchase price. It’s quite rare for them to come in less.
Jamie Moore replied to the topic Flipping and Access for renovations during settlement in the forum Help Needed! 3 months, 3 weeks ago
Yep – I’ve done it before.
It was part of our offer. We required access to the property post exchange/pre settlement to carry out some renovations.
Our solicitor put something in writing to the owners solicitor – the owner signed off on it and everyone was happy.
Hit up your current lender first and see if they can provide any further discount.
There’s some second/third tier lenders that are reasonably competitive but have terrible borrowing capacity calculators for investors – such as Suncorp, ING etc
Jamie Moore replied to the topic 23 yr old graduate need advices on personal finance in the forum Finance 4 months, 3 weeks ago
Not as easy as it once was in the post APRA world of investing :-(
Especially if on a low/average income.
Only you can make the decision regarding whether fixing is the best option for you or not.
If you’re planning on investing further- and if the property with the loan you’re considering fixing is involved in those plans….then it might be best to leave the loan as variable so you maintain a level of flexibility.
If it’s a set and…[Read more]
It’s impossible to answer without a crystal ball :-)
Melbourne has grown quite quickly of late. Canberra is also on the rise – probably not at quite the same pace as Melbourne.
Which one to invest in now is a difficult one to answer. Personally – because I have a good understanding of the market and access to trades for renovation work -…[Read more]
Melbourne is going nuts – it’s performed strongly of late.
Canberra is doing well too – but I suspect there’s still a bit of growth left in the current cycle.
It’s a tough question!
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