So don’t lie.

Some LODOCS don’t ask for an income but rather ask for certification of affordability.

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.

HGWells,

Can you drop me an email with a phone number,

ta

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.

That looks like a 12% return to me.

There are some differences with commercial that you need to be aware of. Not bad things – just different things.

LVR are often lower although nearly anything can be done – for a price[]

Vacancies can be longer. Houses are usually rented within days, commercial can be empty between tenancies…[Read more]

Allan,

The FHOG can be used for whatever you want. Doesn’t even have to be spent on the house – it is a payment made either at settlement or afterwards. You can use it for that cruise for your lovely wife if you like!

For a house costing $100 000 you will need to save a min of $5000. This means a 95% lend which is the minimum for most normal…[Read more]

Betty,

You can get the loan in the trust or company loan.

As the entity hasn’t got figures for two years it cannot stand up alone.

You or other trust members can go guarantor on the loan. Quite simple really. Another idea is you go co-borrower.

I think you need a smarter broker.

Cheers,

Simon Macks
Mortgage…[Read more]

Approaching a broker or banker and asking them to run your figures is not the same as applying.

I think a broker is your best bet.

Cheers,

Simon Macks
Mortgage Hunter
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…[Read more]

Arty,

Only if you believe that prices may come down to below today’s values.

There are other possibilities.

They may level off, they make go up further and level off, they may continue to rise for the short to medium term. Who knows? A year ago many people said that further rises are unsustainable.

I am not trying to make any predictions -…[Read more]

Funny thing is when my wife and I had two incomes we actually saved less than when we got older, had kids and went to one income.

I think it was the lifestyle change that did it.

Cheers,

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

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

Do you have a parent who will go co borrower with you to get you started?

Do you have any scholarship income?

Any casual employment?

Cheers,

Simon Macks
Mortgage Hunter
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…[Read more]

Why can’t you borrow on the properties? If it is postcode then you need a lender who isn’t fussed. There are major banks who will do any postcode.

Ideal situation is to draw 20% deposits from your home and borrow 80% against the IPs.

I am sure Mel or Picja can help out if you contact them!

Cheers,

Simon Macks
Mortgage…[Read more]

A valid concern Jane.

Noone can tell you what to do. You need to consider all the risks and make your decisions.

A valid choice is to do nothing. Personally I think there is a likelihood that a person might regret this choice down the track…

End of the day it is your money, your goals and your life.

All the best,

Simon Macks
Mortgage…[Read more]

I don’t 100% agree to get rid of the car loan.

There are two issues when it comes to borrowing. Deposit and income.

If your deposit is low then you are better off saving the money and keeping the car loan seperate.

If income is your issue then sooner the loan is gone the better.

Cheers,

Simon Macks
Mortgage…[Read more]

Check out PIA at http://www.somersoft.com.au

cheers,

Simon Macks
Mortgage Hunter
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.

Don’t be too concerned about employment status…3 years is long enough for some lenders to consider even casual status.

It all depends on the LVR and serviceability.

Cheers,

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

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

Commercial is a specialised area.

Packaged correctly finance is available for up to 100%.

Email me if I can put you onto someone.

Cheers,

Simon Macks
Mortgage Hunter
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…[Read more]

Not true of all lenders mate.

Simon Macks
Mortgage Hunter
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.

Sounds like all the professional packages offered by the major lenders.

Any broker in here will easily match that.

Methinks clever marketing []

Cheers,

Simon Macks
Mortgage Hunter
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]

What discount do the brokers give? Most offer a free service anyway so they must be giving a discount on rates or fees?

I am not trying to give you or them a hard time – just professional curiosity!

Cheers,

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

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

Alan,

Build the deposit. I am sure you know this but you need to focus on 5% of the purchase price. This is your goal atm.

I am no expert with housing commission although I did speak to a very helpful girl from the RT office last year for an hour or so about an client I had out there in the same position. Unfortunately she has moved on now.…[Read more]

Allen,

I have had two clients in Newcastle in the past 12 months who were offered very favourable prices from the Housing Commission to purchase the house they were renting. One was at Elemore Vale and the price was $80K – that was a year ago and we have had much growth since.

The houses are only sold to the tenant for two reasons. It gets rid…[Read more]