Every day is a holiday and every meal a feast at my place!

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Todays Hot Rate
3 year fixed – 6.57%

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

I guess to an outsider this is all Newcastle – but Toronto and the surrounding towns are actually in Lake Macquarie. an area I am investigating myself.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate – 6.85%

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

Chief,

I am in Newcastle and am pretty up to date with the local market.

Prices seem to have levelled off and vendors are opening up to offers more so that they were. Although I do hear that things are picking up a little atm.

Some of those suburbs you mention are pretty rough. I wouldn’t put my mother in them (Mother in law would be a…[Read more]

Do a search for Off the Plan or OTP.

Many people did well during times of high growth. I think you need to be cautious now. There are reports of people having to settle and finance properties worth less than they paid a year or two ago.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate -…[Read more]

I only advised my site as it has the different state offices listed for you to check.

This is the elegibility criterion:

ARE YOU ELIGIBLE?

To be eligible to receive the FHOG, the following eligibility criteria must be satisfied:

Each applicant and their partner must not have received a grant under a First Home Owner Grant Act 2000, in any…[Read more]

Mark,

You probably wont have to travel too far up or down the coast to find something in that price range as an investment.

Howeber, you will probably find you can borrow a lot more if you see a mortgage broker.

Like most other brokers, I can run a spreadsheet with quite a number of banks calculators and I always find there are lenders who will…[Read more]

Sounds to me like you have thought this through and perhaps have a decision all but made.

If you sell and buy well you may be even better off than you imagine.

Just don’t get caught up in the trap of signing the new contract and having to accept a low offer so as to not lose the new home.

Cheers,

Simon Macks
Mortgage…[Read more]

As far as I am aware there is no problem with owning property outside of Australia.

Just call your relevant state office to confirm.

They are all listed at:

http://www.mortgagehunter.com.au/first-home-owner-grant.html

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate – 6.85%

Comments may not be…[Read more]

I agree with Maximus. Just take advice from people who are where you want to end up.

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate – 6.85%

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

So if I use the LOC to purchase new investments, then this is ok to claim deductions? As I close out my existing investments according to my system rules I can then move this money to my home loan. Obtaining the result I wanted but over a longer period.

I would suggest that you need to first repay any borrowings that funded the purchase of these…[Read more]

Factor in SD exemptions, CGT exemptions and the FHOG too.

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate – 6.85%

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

As I mentioned in the reply to your email:

You won’t get a mortgage on a loan this small – $50 000 is usually the
minimum. I don’t think it would be worth it either. I would consider a
personal loan or even a credit card to cover this purchase.

The fees charged to open a commercial property loan would probably be more
than the additional…[Read more]

You will have a lot of trouble getting an Australian Mortgage secured by Canadian real estate.

Do you have property here to borrw against?

Perhaps a Canadian lender might do it?

Maybe you can take a personal loan to start the first few and the use built up equity to fund further property in Canada?

Just some ideas.

Cheers,

Simon…[Read more]

This is the thing with negotiations – you will never know. I guess you have three options.

Accept her offer and reduce by $15000.

Negotiate to something more acceptable.

Call her bluff and tell her the price agreed is final and that you will put it back on the market.

Is a hard call and I wouldn’t dream of advising what to do. I do know that…[Read more]

Good point. There are exceptions for spouses with some lenders.

Surprised I overlooked this – sorry. That’s my second mistake this year [blink]

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate – 6.85%

Comments may not be relevant to individual circumstances. If you intend making any investment, financial…[Read more]

Many people have explored this strategy after reading articles and books from the US.

We don’t operate like that here in Australia – thankfully. The owners have to receive fair market price for their home if it is repossessed.

They are sent to auction and advertised as a normal auction with the words mortgagee sale or such.

This means they…[Read more]

One of the main benefits to being able to go one on title and two on loan was in the case of a youngster buying their first home.

To improve their serviceability the parent can go on loan as well. But if the parent went on title and they have ever owned a home) then the youngster cannot use the FHOG. If they occupy the property they lose it…[Read more]

I do agree that our gene pool could do with a little more chlorine in it.

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate – 6.85%

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Joe,

Regardless of the lender they require that your income is stated.

LODOCs were designed for the self employed to submit a loan that didn’t need to be supported by two years worth of trading records or tax returns.

Some LODOCs only need a new ABN to get through.

In any case – overstating your income to get a loan is fraud. I trust that you…[Read more]

As far as I am aware the title needs both names. At least with all of my lenders it does.

Sometimes there are ways to achieve otherwise using guarantors etc. I cannot advise without knowing specifics.

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

3 year fixed rate – 6.85%

Comments may not be relevant to individual…[Read more]