Forum Replies Created
- zehra wrote:IMB offers 5.49 for 1,2,or 3 yrs fixed is this still bit high ? I dont really have much choice I have to stay with them ( I think )
and on my last statement it shows I am paying 5.860
Why do you have to stay with them?
It's not high – but there are betters out there.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
lila77 wrote:My issue is that they're on 1 title but the land is 1300sqm. The area is being renewed with many of the maisonettes knocked down and next door there is four houses built on the one block. I would have to borrow over 80%lvr.
Not usually an issue arranging finance for a few securities on the one title above 80% LVR
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hiya
Like any profession – there's good and bad ones.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi there
I'm probably stating the obvious but the large stores like Bunnings and Masters are generally pretty cheap with this sort of stuff.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
9GoldFisk wrote:Hello Jamie,Thanks again for your comment….so to recap….if a deposite of say 10% was required at a lend of 90%….would you say…the 60K represents the actual 10%? Therefore the loan would be…600K ….??
Regards,
Roezetta
Hi goldfisk
You need to account for purchase costs as well – stamp duty being the largest.
You really should chat with a broker or banker about your situation. They'll be able to answer your questions and run some scenarios for you.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi again goldfisk
Yes, the $60k would be used to cover the deposit/costs on the next purchase.
In regards to the second part of your question – it's impossible to comment on your specific situation without knowing the finer details of it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Here's an article from a broker website today
http://www.theadviser.com.au/breaking-news/7937-ybr-to-challenge-majors
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Goldfisk
I don't quite understand the questions but I'll give it a go.
There's a difference between "actual" and "useable" equity.
For instance, a property worth $200k with a loan of $100k has an "actual" equity amount of $100k.
However, the bank won't let you access the entire $100k because that would leave you with a 100% loan.
The max they will go up to is generally 80% – which in this instance would be $160k – so an equity release of $60k.
Some lenders will allow you to go up to 90% of the properties value – which will allow you to access a bit more.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I forgot to mention – we used this online company for a recent IP reno http://www.cheapa-blinds.com.au/
Can't complain. The quality was pretty good and they were shipped quickly.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
alfrescodining wrote:I'd rather buy big land in a "lowlife" suburb than paying $1.2 million for a box in the inner city with a 2% yield.There's much better value out there.
And people aren't lowlifes for living there.
Agree with the last sentence – just because an area's deemed to be a lower socio economic area or whatever they want to call it – doesn't mean that the people living there aren't decent.
Not sure if I agree on the land comment though – but that's just me.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi S Drake
If you think your current unit would make a good investment then I'd be inclined to hold onto it.
The LVR isn't too low – so by converting that loan to interest only now, you'll be able to claim a decent chunk of interest when it becomes an IP.
How much are you looking to spend on your next PPOR?
If you do decide to hold onto your current PPOR (and turn it into an IP) you need to be careful when accessing equity to cover the next PPOR purchase. The equity release needs to be set up as a second split so you can identify your deductible from non-deductible debt.
A decent broker/banker will be able to assist. A not so decent one will make a mess of this.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Depends on the type, size and dimension of the blinds but that seems pretty reasonable for supply and fitting.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Looks like I got this one right
On hold for another month http://www.theadviser.com.au/breaking-news/7926-rates-on-hold
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
lol – I don't mind admitting to not being able to pick RBA rate movements. Sometimes it's obvious – sometimes it isn't. I don't think today's decision is that obvious – it could go either way, I think it will remain unchanged.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
No change.
But I've been wrong before – plenty of times.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
No worries.
Welcome aboard.
We're a friendly bunch so don't be scared to ask questions.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I'm no IT tech head but I've just started using google chrome and find it heaps better than Mozilla.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
+1 for Richard.
He'll do a great job.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
No – you can keep them separate with the structure I outlined above.
Yes – depending on the lender, a 90% equity release on your current property might be possible.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Terryw wrote:Just because most are clueless doesn't mean all are. (from what I see at training sessions etc most are clueless)
It's scary isn't it.
I went to an accreditation session for a lender that just came onto our panel the other day. I must admit, if that room was used as a sample of the general broker population, then the quality is on the decline.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
