jmsrachel wrote:

I hope Jamie or RIchard don't do this, it's a good way to pi$$ people off!

lol – I've never heard of it. It would annoy me too.

I send my clients a bottle of nice champagne to celebrate their purchase. The local Dan Murphy's love me.

Cheers

Jamie

Hi Wilko

Most bank staff aren't equipped to take on queries outside the norm.

Using trust income for servicing shouldn't be an issue but it wouldn't hurt having a decent finance person look over your numbers and provide advice, particularly one with a knack for complex structures and one that's been giving outstanding advice for a number of…[Read more]

Sorry to hear – hopefully it's smooth sailing going forward.

Cheers

Jamie

Might be a few more in the future if the current news about oil in the area comes to fruition

Cheers

Jamie

Hiya

Did they take into consideration any comparable sales that were presented to them or did they just flat out refuse to review their decision?

Cheers

Jamie

Someone just came on asking about a PM in Coober Pedy.

Cheers

Jamie

Too hard for them! Sounds like an excuse my 6 year old tries to use on me all the time.

Best of luck with it, I hope it all works out ok.

Cheers

Jamie

I'm not a builder so I'm not sure about the extent of damage that could flow from this. But that's the question I'd be asking the person that gave you the quote.

I'd be thinking more so about the longer term effects that this can cause. $700 now might be a bargain compared to the larger problems that could surface as a result of it.

I came…[Read more]

Hi Hiten

I'm sorry to hear.

Do you know why they acted in such a manner?

I don't know of anyone in Cooby Pedy but hopefully there's some forum members that might have an idea.

My only concern is that it's not the most populous place in the world – so there may be very little variety in the way of property managers.

Cheers

Jamie

Yeah I'm not sure whey they provide that. It just shows your actual equity – which is taking the value of your home and subtracting the loan amount. 

They won't allow you to access your actual equity because that essentially means you're borrowing 100% of your properties value.

We've been able to go up to 95% on equity releases previously (most…[Read more]

Paul B. wrote:
Hi Jamie,

Property is worth $375,000 and $325,000 is outstanding.

Does this mean that I essentially have no useable equity? i.e. 80% of value is $300,000.

Hi Paul

There's not a lot there.

If you can take your current loan up to 90% LVR – then there's only $12k you can access.

$375k value * 0.9 = $337.5 (90% of properties…[Read more]

Hi Hiten

Are you looking to engage them or have you experienced issues?

Where are you looking for a property manager? If you mention the location you might have some people on the forum that can provide recommendations.

Cheers

Jamie

BigCubez wrote:
Sorry Shahin, I might be reading it wrong, but it doesn't sound like Paul is calculating equity correctly. Its sounds like he is subtracting the loan amount from the value, and then using 80% of this figure.

Yep, you could be right there.

Paul, what's the actual value of your property and what is the loan…[Read more]

Ahhh – Tamworth settlement today. It just clicked!

Cheers

Jamie

Excellent, they'll do upfront vals. Ask your broker/banker to arrange for you.

Cheers

Jamie

Hi and welcome aboard.

I like the idea of buying your first home and then having your mates as boarders. It will soften the blow for you in terms of repayments.

There's a few things to consider with purchasing an IP soon after.

Firstly, you won't be eligible for concessions or grants on an IP so the purchase costs are going to be higher than…[Read more]

Hi Paul

Which lender is your current PPOR with?

Cheers

Jamie

Hi Paul

Welcome aboard.

With $40k, it's not going to cover a 20% deposit and costs on a $190k purchase as you've alluded to. It would be in excess of $45k at least when you take into account stamp duty, legals, ect. 

However, that's not the end of the world because a lend higher than 80%  for an IP  in the hunter shouldn't be an issue from a…[Read more]

I'm with catalyst.

It's better to overcompensate then under.

I remember how many people were under insured a decade ago during the Canberra bush fires. A scary thought.

Cheers

Jamie

The 228sqm sounds like the entire block size.

We've got a 3 bedroom unit/villa that sits on a 300m2 block.

It's usually big enough for a front garden and a bit of a courtyard out the back.

Cheers

Jamie