You can do it if you have additional security such as another property.

There are other 100% lend products but the fees you pay with those are nearly as much as the LMI.

What do the other brokers have to offer?

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

There are plenty of brokers in here who would do the best they can for you.

Please feel free to email one or more of us with what you need and see what we can do for you.

Cheers,

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

Are you really in Afghanistan?

This is an easy one to refinance but wouldn’t bother until you are ready to buy again.

My reasoning is that it is such a small loan it isn’t worth the fees to save a little interest.

Cheers,

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

Take my advice with a grain of salt as I really don’t know you well enough.

One idea is to buy the home using all of your money.

Pay down the home as fast as you can and in the meantime find your other investment.

Draw money from the home loan to invest. Use a split loian to clearly see the new debt as a seperate entity.

This means that your…[Read more]

I have had clients recommend Deppro for QS Reports.

http://www.deppro.com

Check out the FAQ page.

Cheers,

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

<My pleasure guys.

I Live to Give []

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

Put it in an offset account.

There are strategies you can employ however they are expensive. You need to wiegh up benefits and seek professional advice.

One is to sell the property to a trust, incur stamp duty and finance it back to 100%.

There are some CGT issues to consider here too.

Simon Macks
Mortgage…[Read more]

NO NO NO

It is the purpose of the loan that makes it deductable not the security used. You draw the funds to buy a home then no deductions allowed.

Depending on your time frame I would recommend some different strategies.

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

There are reasons why it can be argued that one is better than the other. Depends who you speak to.

A common idea people express is:

Land appreciates and buildings depreciate.

So by this you may expect higher capital growth for a home on land and less on an apartment sharing a much smaller slice of the land.

Usually an apartment will give you…[Read more]

I just spoke to a fellow being audited and he was asked for proof covering a three month period.

Scott,

You are quite correct. If a partner in a home purchase has used the FHOG or owned a home before then you cannot get it. In addition if you then reside in that property you will never get it either.

There are ways around this. I have…[Read more]

Buying an IP and not living in it does not preclude you from using the FHOG later on to buy a home.

There are other factors to consider though.

Have a good read of the FHOG section on the site:

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

If you are in another state then use your states one. The rules are the same though as it is a federal…[Read more]

Well the FHOG is designed ta assist to purchase your home.

I understand that whilst there is no minimum period you must live in the property the OSR is actively auditing people and the they are asking for proof that the property was your home for a three month period.

So I hear on the grapevine,

Simon Macks
Mortgage…[Read more]

quote:
Hi Steph and Cremin
We have the same motivations as you guys, what`s it like in London?
My wife is a teacher and we are thinking about going to England next year. She is applying for positions in the Cambridge area. What are the kids like there, she is sick of them here!

Cheers
Clinton and Julie,Queensland

Clinton,

My wife was a teacher…

[Read more]

In answer to Q4.

I normally advise clients to pay IO on an IP esp when they are still paying off a PPOR.

You can get IO for ten years with some lenders.

It will maximise your cashflow.

However some clients are more comfortable knowing they are paying down the mortgage and that they will be debt free on retirement. These people typically only…[Read more]

Sushi,

I think it is worth dropping picja an email. What have you got to lose except for 10 minutes of your time.

Cheers,

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

Please see a broker before you apply for any of these loans. So many times people tell me they can’t get a normal loan and we find they can. I hate to think how many folks are paying more than they should.

Any of the brokers on this site could probably help you out with just an email or phone call.

Or look in the phone book.

Cheers,

Simon…[Read more]

Clownsta,

Drop me an email and I will pass it on to a chap I know in Sydney. He is very very good.

Glad you guys found the free section – it is well hidden isn’t it!

Cheers

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

Polski,

Lots of people would love to help but we need more specific info on your needs?

Tell us your plans?

Cheers,

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

Hopeless with money…You sound like you are doing fine – plus you are planning to do more.

100% loans should be OK with your equity.

Well done.

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

Not really LODOC…. they are more for people who don’t wish to prove their income.

There is bad credit history and bad credit history – some worse than others.

You can get a free copy of yours from http://www.baycorp.com.au.

Be more concerned about loan defaults and less about little things like telco defaults for a hundred or so dollars.

There are…[Read more]