Can do 6.29% with offset and $150pa fee.

Because you want the offset we cannot do a simple “no frills” product with no fee.

Please don’t let a banker convince you that redraw = offset. There are significant differences.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

Quote:
Originally posted by thek:
We’ll I saw the e-choice guy tonight. He seemed like a pretty knowledgeable fellow. Although he didnt like it when I mentioned that I’ll be getting second opinions./quote]

Thats pretty funny – wonder why he didn’t like it?

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

My rate conscious clients currently end up with 6.29% with free offset.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.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]

Electrodry is very effective on older carpets – I have used it to good effect too.

I agree with the advice earlier – be guided by your PM and just do what is necessary to make the place rentable.

Save the tarting up for sale time.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

Were the Seminar folk actually selling the property or offering to source it for you in the guise of showing you how to create wealth?

This is a Red Flag in my experience.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to…[Read more]

If you are currently only just servicing your current loans then a construction loan with no rental income might not be the wisest move.

However if you have the equity then you may be able to capitalise the interest until it is rented….still may be too tight. With CG being in a slow or stagnant phase it may not be the time to stretch yourself…[Read more]

You are on the right track.

Some fine tuning of your idea might be to draw a 20% deposit and costs from your home loan using a split to clearly identify which part of the loan is for which property.

Use this to get an 80% IP loan IO.

Pay IO on the IP loan until you have no PPOR loan left and indeed no nondeductible borrowings left.

Does this…[Read more]

our property finance lecturer once said to us, “How would you like to get a practically guaranteed 6.5% return on your money? Easy, make extra repayments on your home loan.”

Tax Free return too!!

But I would counsel people to choose an offset account for the same effect but with far better flexibility for reason outlined in other…[Read more]

Originally posted by clones:
Originally posted by Dazzling:
Maybe – just maybe, some, not all, are little 22 yr old journo’s on 35K p.a. with no property experience at all.

Funny you mentioned that, isn’t 35K p.a. and 22 years old the average salary and age of the real estate agents and mortgage broker?

Clones

I wish I was 22 again – wouldn’t…[Read more]

Keystart is a very useful product but unfortunately as a WA Govt initiative it is unavailable outside that state.

I am not aware of anything similar elsewhere.

QLD did have one in the 80’s but when rates dropped it proved to be a disaster and really hurt the folks it was supposed to be helping.

Cheers,

Simon Macks
Residential and Commercial…[Read more]

Has something bad happened to you Clones? You seem a bit hostile to people you don’t agree with?

Noone is disagreeing with you that the market as a whole is in a post boom phase of the cycle. Some areas are dropping, some are stagnating. But I think you might agree that studying the micro markets might find some properties with a chance of…[Read more]

You are better to find another lender who is able to lend you more based on your income from all sources.

You may not need to refinance all the properties to do so.

Most reputable brokers will be easily able to point you to the right lender.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

I would expect that stamp duty would be applicable based on the value of the Father’s share of the property regardless of whether any money was being paid for it.

Does this sound right given the amount of money being charged?

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

Originally posted by clones:
Originally posted by Mortgage Hunter:
What advice is that Clones?

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

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

What advice is that Clones?

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.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.

Drop me an email mate

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.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.

Give a broker a call and ask him to run some figures for you. You might be able to make some decisions armed with the info he can give you.

Sometimes it is better to pay down a PL and sometimes better to keep it. Depends whether your strength is in a big deposit or a good income.

All the best

Simon Macks
Residential and Commercial Finance…[Read more]

You know I remember a saying describing playing Poker for Money:

“Look around the table, if you cannot immediately identify the sucker then it is you”

This describes how I personally feel about investing in Eastern Europe or SEAsian countries – especially when buying property marketed to OS investors.

I once went to a seminar on Auckland Studio…[Read more]

Do you have a PPOR loan?

I think that going to IO will free up cashflow if you wish to buy more IP’s.

You may not need to refinance – see if your current lender can change over for you – it will be cheaper.

If you do decide to refinance then you should speak to a broker and determine which lender will allow you to borrow the most and hence…[Read more]

I suggest that you remind your friend that he has choices.

Find out the current market rent of such a house. PMs will bend over backwards to tell you what they think they can get for you (might not even hurt to pass it to a professional manager either).

Your friend can choose to pay market rent or try his luck on the open market.

Sounds like…[Read more]