I found it wqorthwhile to actually make an appointment to sit down with the Duty Planner and go through all the possibilities. I thought they were very helpful but I have heard that some councils don’t enjoy that reputation. Ask around and you should quickly learn the best way to approach your council.

It’s one thing to maximise the usage but…[Read more]

What goes around comes around.

To me it refers to the way I should treat others.

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.

You will need the plans drawn up before you get the DA from council – they will need to see the site plans at least.

Depending on the project you may not need an architect. Our last one was two identical houses and the builder had the plans drawn up which were satisfactory to council.

Cheers,

Simon Macks
Mortgage…[Read more]

Paula,

When borrowing money there are two issues.

First is deposit and second is serviceability or income.

It depends which one is weaker whether you pay out the debts or whether you save a deposit.

Sounds like you have a low deposit. I suggest you save money and pay the minimum off your debts. When you are ready to buy your broker will let…[Read more]

That isn’t true.

Interest and other costs can be claimed for any period the property earns taxable income.

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…[Read more]

Equity loan is OK if you have the income to service it.

Tara,

You need to speak to your broker and have him run some figures using your income and your expected rent to see what can be achieved.

Cheers,

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

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

jason,

Where did you get that info from?

Check out http://www.osr.nsw.gov.au

You will see that there is no minimum time needed to occupy the residence as a home. However it must be occupied within the first 12 months. This was done, I believe, to allow existing leases to expire.

However I have heard that they are auditing and the proof they are…[Read more]

To take it one step further – if your partner hasn’t used it but you have or you own a home and you are defacto or married then she has no entitlement.

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]

There are some pretty good fixed rates still available. Five years fixed from 6.29%.

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.

At this price range some banks don’t use valuers. I can relate a story of someone I know who prepares a folder of all comparable sales and other information (which supports his valuation) and convinces his lender of equity rises with that!

If the lender wants to help find the equity to finance the next deal (and the next loan) then they can be…[Read more]

Your friend will need a min 5% deposit to buy. Don’t include the FHOG as this will be needed to cover LMI, SD and other purchase costs.

So at the price range listed she will need $6 – 7.5K genuine savings. The more she has the better.

She will also need the income to service a debt like this.

Assuming no dependents and a small credit card she…[Read more]

Check out some of the smaller towns around Newcastle.

Would be at the 2 hour mark perhaps a little further.

What about out Lithgow way as well?

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]

Sue,

Talk to a broker…being self employed for under 2 years doesn’t necessarily mean a LODOC. I did a land loan for a guy self employed for one year on the strength of his BAS.

Lower interest rate too.

Cheers,

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

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

Give them a call and ask them.

Has there been any renovations done recently?

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.

From discussing this with investment clients I would suggest it is always worthwhile having a schedule drawn up.

Talk to Deppro. http://www.deppro.com

I have heard great things about them and am using them myself. Discuss it over the phone with them and see what they advise.

Cheers,

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

With most low doc loans you will need 20% commission.

I think Terry means 20% deposit[]

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.

I have a client who has just bought one and in the process found several he is willing to pass on for a small fee.

Let me clarify that I earn no fee from him.

Email me and I will give you his email address.

Cheers,

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

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

A few months employment shouldn’t make a loan impossible.

Have him contact an independent broker.

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.

I have clients finding them all the time.

Even in Victoria!

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.

As the agents introduced you to the vendor and subsequently the tenant they can probably argue their case.

Not saying I agree.

Perhaps you need to let them know you are speaking to another PM and see if this changes their tune.

Cheers,

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

Comments may not be relevant to…[Read more]