I've personally requested rate discounts with CBA twice on a couple of loans and each time they've agreed – they even waived the package fee for a year.

Agree with Mick – try again later.

Cheers

Jamie

Hi Joe

it can depend on the loan amounts and LVR.

Did you pay LMI on these loans in the last few years?

They're generally more receptive to matching variable as well – but fixed can be possible.

Darkknight, give it a go.

cheers

Jamie

I haven't head of them. What were they trying to sell?

Just looks like one of those one stop shops where they sell and finance the property. Personally, I like to keep these transactions separate.

Cheers

Jamie

Hi Michael

It's good to see a QS on board – they don't appear to often. Would be good if you stuck around.

Cheers

Jamie

Yep, it's a pretty sharp rate. 

STG just dropped their 1,3,4 and 5 year fixed rates as well – not as low as 4.99% though.

Cheers

Jamie

Yep, it should do.

p.s I'm not an accountant.

Cheers

Jamie

Awesome post from D Wolfe.

7 months on the market is a long time – unless they're not strongly motivated to sell, you should be in a good negotiating position.

I would disregard the asking price and work off the figure that you think it's worth – which should be based on a comprehensive due diligence process, which D touched on…[Read more]

Hi Tracee

Welcome aboard.

With the $100k – is that equity in existing property or cash?

If cash, do you have an owner occupied property?

In terms of how much to use towards each purchase – it's different for everyone depending on their tolerance to risk. I have some clients who would stretch that $100k over multiple purchases using smaller…[Read more]

Hiya

It comes off your taxable income.

ie. if you earn $100k a year and claimed $5k depreciation on a property – your taxable income would be $95k.

Of course that's a very basic example though – there's a heap of other claimable items when it comes to IP ownership.

Cheers

Jamie

Hi Jon

If you do a quick search for landlords insurance you'll find heaps of threads – it pops up all the time.

Cheers

Jamie

Hi Kat

Following on from Paul's post, the general rule is that if you're planning to turn your PPOR into an IP – then it's best to set up the repayments as interest only now so you can preserve your future deductible debt. This becomes more important if you have other non-deductible debt (personal loan, car loan, credit cards, ect) that can be…[Read more]

Which lender are you currently with?

Cheers

Jamie

Depends on the lender.

Some allow upfront valuations for free – NAB, Homeside, St George, AMP, ANZ, Advantedge…I'm probably forgetting some, will do this.

Others won't charge for the valuation but will require you to submit a loan application upfront before the valuation is ordered.

There's not too many lenders I can think of that would…[Read more]

Homemade wrote:
Thanks shahin,

Fish n chips are only $30, so I might get better light fittings instead!!

lol – now you're thinking! Just grab some frozen stuff from Woolies- but back another $10

Cheers

Jamie

Yep, the rate goes up and the deal goes to Genworth.

If they can't keep it under 90%, then AMP is a no go because LMI probably won't be comfortable with the number of credit hits.

This is so important with AMP. Make sure you write it into your notes to reiterate that LVR is to not go beyond 90%!

Some of the sub 90% deals will still end up with…[Read more]

sharpe123 wrote:
Hi Jamie, thanks for your feedback. Will seek out the posts that discuss the pros/cons of serviced apts. I'm potentially looking at a block of 4 units that are currently serviced but has the option to be stratad and leased. Any experience on that scenario also much appreciated! 

My next step really is, as you say – spend it…[Read more]

The last major reno we carried out was a 3 bedroom place and we spent about $15k – including new flooring, paint, kitchen updated, window and light fittings and external render.

Homemade – Jac M knows the area. Probably wouldn't be a bad idea to PM/email her for assistance. 

Cheers

Jamie

 oh – if you do decide to try AMP, order the val upfront so you know if it's possible.

Cheers

Jamie

If it's credit scoring that's knocked it back then it probably hasn't ended up with LMI.

You could try Suncorp who don't credit score.

AMP don't credit score and it shouldn't go to genworth if it's a normal security/postcode and LVR doesn't go above 90% – including any capped LMI.

Cheers

Jamie

Hi and welcome aboard.

Personally, I'd stay away from serviced apartments. There's quite a few posts on the forum that discuss the pros/cons.

I haven't been up to speed with the particular markets mentioned but they have been on the radar for a while now – particularly Orange.

It's good to read that you're searching for growth – sometimes…[Read more]