Qlds007 wrote:
On a separate issue anyone get the contact details of the 101 posts this morning for Ugg boots and ski equipment.Moderators did such a good job of cleaning the the site up i missed on out the details and might be needing a pair shortly lol.

Picked me up 100 rolex's, 40 pairs of ugg boots and some viagra I logged on this morning…[Read more]

fredo_4305 wrote:
Who is on a standard variable though lol most packages are a discounted non standard variable rate. It seems like a big marketing stunt. I have some loans with CBA and they are beating the NAB on my package by about .03. Which granted isn't much but the Standard Variable means jack to me. Adding to this I had a Suncorp rep…[Read more]

Interest only is favored by investors because the "interest" component of the loan is tax deductible. If they set up the loan as principle and interest, the "principle" they pay on the loan isn't deductible.For that reason, if you're looking to pay down any loan, it's best to pay down non-deductible debt first (ie your PPOR loan).However, I'd even…[Read more]

grantos_champos wrote:
I can understand the <300k listing to get people that are close to that mark on budget to see it in their searches. That is around my budget and I always include up to 350k when I do searches.In our offer we've said that it is subject to bank valuation being to our satisfaction, is this enough to allow us to re-neg price…[Read more]

Hi GrantosIt can be frustrating when the price is listed with a plus sign after it. Some agents use it as a lure to generate more interest.At the end of the day, it's up to the vendor to decide which offer they are willing to accept. CheersJamie

Hi Deb and KarlA line of credit is a type of loan.A 100% offset account is a feature of a loan. It's like a savings account attached to the loan. If you have a $10 loan and you place $1 in your offset account, then you only pay interest on $9.I'm not sure why Margaret Lomas recommends a LOC over a standard interest only loan. They are generally…[Read more]

I should have also mentioned. Leave the challenger loan as is – breaking the fixed period won't make financial sense and taking it over to CBA prob won't make much of a difference in terms of the rate discount you organise.CheersJamie

mentee wrote:
Hi all,We are currently with cba for our ppor with 6.86% interest rate (was 7.11% a couple of weeks ago). The loan amount is about 500k with LVR 65%. We have an IP with 50% fixed and  50% variable, totalling about $180k the fixed term will mature may2012. This loan is held with challlanger, and breakup cost would be quite c…[Read more]

Terryw wrote:
It should be just a mathemetical calculation in that case???? Which is larger 0.05% of the loan or $395?

That's the equation I'd be using….and if you intend on staying with them for longer than a couple of years than the rate discount will prob best. CheersJamie

Between compliance, writing loans and keeping up to speed with everything else……I don't know where I'm going to find time to knock this thing over.Besides, next year they'll probably want us to have a doctorate in mortgage finance CheersJamie

bucko666 wrote:
I didn't pay LMI due to having a guarantor. Does this help my cause much? I think I will ring CBA and see what they can offer. If its better, then I will use that in my negotiations

Unless you use a gaurantor on the switch you'll prob have to pay LMI.Sounds like a lot of paperwork everyone – all for a small savings. I'd take…[Read more]

Qlds007 wrote:
Definately and Wesuck are not one of them.CheersYours in Finance

Yep, they're not the easiest to negotiate with. We've organised a couple of 1.06% discounts in the last month for borrowings around the $700k mark…I doubt they would consider going any further at this level…..ANZ will give you 1% off anything over $500k if the…[Read more]

Hi buckoYour bargaining power will come down to your total borrowings and LVR.Is your LVR above 80%? If so, WBC know that jumping ship will involve you paying LMI again elsewhere…..therefore, they catch your bluff and won't offer a discount.If your LVR is below 80% and you want to move elsewhere simply for a cheaper rate – then you have options.…[Read more]

Have to get a diploma before 1 July 2012 as well. Apparently a few additional modules are being added to the diploma shortly as well…..ah, it never ends CheersJamie

Hi againNot sure how you'd go without MFAA accreditation – I don't know you'd be able to become accredited with lenders without it.CheersJamie

Ron the Mortgage Broker wrote:
Hi Rob, (Fix my previous post) at the moment 2 years fix from ING is 6.09%.

Not a good lender to opt for if you plan on accessing equity at some point – particularly if you were planning on topping up to 90% LVR CheersJamie

Ron the Mortgage Broker wrote:
so do your residex report /research and if you think your LVR is 75% or lower, find lender who will give better rate for lower LVR

You'll also need to factor in the switching costs for leaving. Historically speaking, ABL weren't the cheapest to break away from, so do the math before switching. A small rate…[Read more]

hmmm…..the ABS might have some info, but I'm assuming you've probably sussed that out already.CheersJamie

jamesp33 wrote:
hi guys, im currently 22 years of age and i have now been approved to a $400k home loani have been looking on the market to purchase a investment property and im really confused about what to look for. i live around south western sydney please give me your own feed back on what to look out for and other details about areas that…[Read more]

Shape wrote:
Jamie- like measure and quote? or start on the renovations? Regards Michael

Start on renos.We managed to remove a kitchen and rip up some flooring on the same day as exchange for one IP.There is risk with this method – but it's worked out well for us so far.CheersJamie