quote:
…or if it’s anything but a brand-new place you can say you are not satisfied with the building report.

This will o0nly work if the contract allows it. ie subject to building inspection.

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]

This is a good strategy if you have any non deductible debt. Use any deposit to reduce or eliminate it then borrow as much as possible for the IP.

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…[Read more]

Fluctuating currency rates add an extra degree of risk to overseas money.

Also, as mentioned, security for the loan will be a difficult issue.

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…[Read more]

I have found the NAB to be pretty good with this sort of deal.

This is one area where a broker’s relationship with a Mobile Mortgage Manager really helps get the applications accross the line.

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]

If the $100 000 cash is to be used for the purchase then this should be fairly straightforward.

I would suggest moving as fast as possible in order to have everything sewn up before you depart – last thing you want to do is to sort this stuff out from overseas, I worked OS for 3 years and know what that was like[]

Cheer,

Simon Macks
Mortgage…[Read more]

Great idea – just remember that by pitching it to younger people you may cut out those who have years of experience to bring to the table.

I wish you guys every success.

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,…[Read more]

I was there once some years ago as a guest for their ANZAC Day ceremony. It was a friendly and pretty little town.

I also have a client who bought several properties there some months ago who raved about the place.

Cheers,

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

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

Don’t forget team that the banks can move the fixed rates up and down independent of the RBA announcements. This recent fixed rate rise was in expectation of todays announcement.

I do think fixed rates are nowhere near as attractive as they were a month or so ago.

Cheers,

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

Just bought a house in a reasonably strong growth area for $315K. Will rent for $520pw in the New Year after a small cosmetic reno <$10K to spend.

Should be positive esp as the fixed rate is 5.89% for three years.

Cheers,

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

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

Thanks mate,

What I mean is we all use many lenders and steer a client acccording to his needs.

The main banks pay us a commission based on the loan size and the smaller ones pay more or less depending on their marketing strategy.

So for example many lenders pay less than half of what say ANZ might pay whilst others pay slightly more – maybe…[Read more]

Very possible to do it long distance – as to whether I would buy a house that no local will offer a better price for is another thing.

Although to be fair often the locals are the last to see the potential in a property. For example the booming suburbs here are the old working class ones that are inner city and becoming very trendy. Locals will…[Read more]

As always Mel is right.

Sometimes if you do the reno it is better to get a QS in than use the receipts – the reason is receipts don’t show your labour component whereas their estimate for the value of the new kitchen wil include that.

All the best,

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

Comments may not be…[Read more]

Thank you for those kind words Cecilia! As I told you earlier you are a dream client!

itsamoorey – all brokers get paid for their services. There are very few of us left that do charity work these days! []

All brokers get paid a spinoff – thats how we get paid. The fear out there is that we only recommend the highest paying lenders. This is…[Read more]

Mortgage Brokers are all ratbags[]

Depends on the situation as to my recommendation for IO or P&I. In many cases for an IP IO is preferred.

As far as products go it is a bit like asking which is the best car? It all depends on the drivers needs.

So post some more info and lets see what we can suggest.

Cheers,

Simon Macks
Mortgage…[Read more]

Josh,

Doesn’t hurt but it isn’t particularly effective either when you think it through. My comments were directed at the earlier post which talked about PPOR vs IP debt having the offset.

If you have a non working spouse then consider putting it in something like ING Direct at call account in the spouses name – just an idea.

Kat,

If you are…[Read more]

http://www.gatherumgoss.com

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.

Shaun,

I think you should see a decent accountant as to redoing your tax for the past few years.

I don’t believe that the ATO polices the FHOG. Regardless you have a very valid reason to leave the place and I would be surprised if you have much trouble with anyone over it.

I also agree that Pro Packs are very useful for those considering…[Read more]

Mel this is true.

However I recently tried to neg a 5% deposit and the vendors solicitor crushed it. His grounds were that if I shot through and had to forfeit that 10% then they would have to chase me for the extra 5%.

Made sense to me and good advice to the vendor I thought.

Cheers,

Simon Macks
Mortgage…[Read more]

You have built a house? You have already started my friend[]

Just keeping pushing on ahead!

Look at 20 open houses in your area next weekend. Start researching.

I wish I was in your position when I was 21.

Cheers,

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

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

Peter M,

I have an example report if you still want to see one.

Email me and I will send it to you.

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.