You possibly wont get standard residential finance either.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

Shirley,

Had she not taken the honeymoon rate she would now be able to ask for the basic variable rate of 6.56%.

Unfortunately the honeymoon rates automatically revert to the standard variable.

Might be worth talking to your PB and seeing if he can switch it for you []

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228…[Read more]

Originally posted by ANUBIS:
Definitely only the portion of the month that you rented the property for.

Anubis,

Is this your opinion or is it based on the residential tenancy act?

Check with your PM. You do not want to make any mistakes that could jeopardise the smooth refund of your bond!

All the best,

Simon Macks
Mortgage…[Read more]

Let me think exactly what I used. My place has full length built ins and big windows so wall space might be a little reduced.

Flat paint two coats – 24l

Gloss Trim paint – 4l

Semi Closs paint for kitchen and bathroom above tiles and also toilet – 4l

Ceiling paint onecoat – 8l

OK so I guess we used about 40l all up. But there is a bit left…[Read more]

Both are mortgages Penguin. Homeloans are a marketing word that sounds less threatening!

You are doing well – some people take ages to grasp this stuff.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

This is simple but difficult to explain. A loan’s interest payments are deductible if the loan was used to buy an investment. If it is used to buy a home then it is not.

Regardless of what the loan was secured by.

So to draw money from a loan against a property that is an investment and use it to pay down a homeloan then this part of the loan…[Read more]

Fullout,

Many people prefer to buy quality paint as it makes the work so much easier. Cheap paint is horrible to use.

You can buy Dulux 101 at Kmart for about $125 for ten litres. We recently used 26 litres to paint a 5 bedroom home on the inside. That included semi gloss for the wet areas.

I think painters get the paint cheaper than you and…[Read more]

You don’t need to buy a property.

I own a home atm. I could go to the bank and take a new loan against this property for any purpose I choose.

He is simply saying that he raised the loan because of the higher valuation and paid out his home.

There are some tax implications for that here in Australia that make it not as simple as it…[Read more]

This is a good indication of some of the downsides of commercial investments for the beginner.

Thanks Tools and I am sorry I don’t have any suggestions as to how to tackle this problem,

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

Generally it means to change your lender and start a new mortgage. You might do this to get a better rate or to find a lender who may lend you a higher amount. Some people do it as they dislike the current arrangement.

There are costs and these should be considered.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228…[Read more]

She can’t get the Choice package as the loan is too small. It wouldn’t really be worth it anyway. The discount will be the same as the annual fee!

With this size loan any interest rate rise won’t be the end of the world. Even with four rate rises she will be only paying $13pw week more and I can’t see this happening in the immediate term.…[Read more]

Be careful. Have the property independently valued. Don’t use their legal team or recommendations. Have clauses to escape the contract with.

Check what finance they recommend as well. There will be kickbacks there too.

But most of all have fun []

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may…[Read more]

You don’t have to set up a trust unless you choose to do so. LODOCs don’t need a trust.

You may be able to use normal loans – depending on the figures. Approach a broker and ask them to run the numbers for you against all the lenders.

All the best,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be…[Read more]

Much will depend on where these properties are. LMI will play a large part in approving these loans.

With such small loans you should be more concerned about fees and costs and less about rate.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

Which lender Shirley?

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

Indifference is right. Most people do not win against the bank.

Many people who fixed last year did come out better due to the recent rate rises.

I think fixing is of most benefit for those people who like to have some certainty in their financial arrangements. I am generally not a fan of fixing but I must admit I seized the opportunity to fix…[Read more]

http://www.gatherumgoss.com/

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

Me too thanks!

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

Gina,

Please get onto someone ASAP. Bridging finance isn’t as straightforward as a normal home loan.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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

Terry is right as usual. But things can be a little flexible if you can demosntrate that you are in the same industry. Demonstrates continuity of employment etc

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

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