Hi Mark

Is their scope to add value? Could you possibly carry out some of the work yourself to add value at a lower cost?

Are there similar properties to yours that have been renovated in the area that you can draw a comparison from to get an idea of the sort of value you could add with particular renos?

Cheers

Jamie

I need to give Bankwest a wrap (there's a first time for everything). Placed a 95% + LMI deal (effectively making it 98.5%) with them on Friday afternoon and went formal this morning. It's not a groundbreaking effort when compared to some other lenders but it is for Bankwest – we were happy with the result.

Cheers

Jamie

Hi Sarema

Welcome aboard.

Assuming the reason behind the refinance is to purchase your new PPOR then the short answer is no.

Tax deductibility is determined by the "purpose" of the loan – what are the funds being used for?

If you're refinancing your current PPOR loan to access funds for another PPOR purchase – the purpose is private use and…[Read more]

Forgot to mention that Advantedge have dropped their fixed rates further down to 4.79% for 1 and 2 year rates. Half of the loan has to be variable though and LVR needs to be less than 75%

Cheers

Jamie

It's interesting to see that graph because it feels very similar to 2009 from where I'm sitting. Rates have dropped to 5%, FHB's seem to be moving back into the market and investors with equity are buying up. 

Cheers

Jamie

Hi Dave

It would be interesting to see if those vacancy rates apply to the "bad areas" of town as well. That's one of the issues with lower socioeconomic areas – the vacancy rates (and I'm generalising and it's only my opinion) tend to be higher in those specific areas compared to the overall town/city.  Finding decent tenants can be difficult as…[Read more]

Tread carefully – it might look like a good deal on the surface but could potentially cost you heaps.

I take it that a pest inspection came up with the finding – do they have an idea of the extent of the damage and likelihood of it getting worse? Have they provided an idea of how much it will cost to rectify? If you get serious about the purchase…[Read more]

Policies don't change – servicing for some people improve with some lenders.

Cheers

Jamie

Tough one to call.

ANZ jumped on board the 4.99% 2 year fixed wagon today.

Cheers

Jamie

Hi Haddy

Welcome aboard.

Your question is too broad to give a decent response.

For what reason(s) are you considering trust structures?

Cheers

Jamie

No worries.

Cheers

Jamie

Excellent – it's the best way to approach it. 

We're a friendly bunch to stick around and ask lots of questions. It won't take you long before you start answering them.

Cheers

Jamie

The discounts on their SVR is quite poor – and they haven't been very competitive in that space for a while.

Anyways, 4.99% seems to be a bit of a bench mark now – let's see how many others follow.

Cheers

Jamie

Hi Sambo

Welcome aboard – always good to see a fellow Canberran on the forum

You're right – the local market isn't cheap. It's also heating up in the lower end of the market – so properties around the sub $450k mark are being snapped up quite quickly with a lot of competition.

I see value in the inner north from a CG point of view. But it's…[Read more]

It makes a huge difference. Clean, modern and uncluttered. 

A family member recently done something similar in Canberra when privately selling and they ended up getting a fair bit more than they anticipated – even the valuer gave praise!

Cheers

Jamie

Hi Dean

Welcome aboard.

Before jumping into any conversations with the bank – I'd spend some time getting clued up on exactly what it is you're aiming to achieve. 

Forums like this are a great free resource – there's also heaps of property investing books that provide a good insight into the various strategies and fundamentals of property…[Read more]

I think there's a common misconception that you must have all your loans with different lenders to avoid cross collaterisation.

This isn't the case. You can have multiple loans/properties with the same lender but keep the structure clean and uncrossed.

Whether this is ideal for you is anyones guess – everyone's circumstances are…[Read more]

Yep, have seen quite a few as well.

Most recent being a WBC client who was fixed in the 8s for a number of years! Still has a while to go before it ends.

Crazy to think that they're currently offering sub 5s at the moment.

Cheers

Jamie

You're too kind – thanks for the wrap

Awesome comments as well. I was hoping you'd pop up to give some feedback on the negotiating side of things.

Cheers

Jamie

Hi Max

Welcome aboard.

An ex-German – lol, my wife is one of those as well.

Give Richard a buzz – he's an ex pom, he'll sort it out for you

Cheers

Jamie