No worries Ben.

Ok sorry cant help you there.

Ring the local branch and ask them as i doubt they publish fixed rate movements on their website.Altenatively your mortgage broker can probably tell you the changes from his own records.

Hi JackssonHard to provide a structured answer without more soft data however bear in mind that when it comes to an investor lending policies change dramatically.What one lender will go to can be totally different with another.There can be a hundreds of thousands of dollars difference.All boils down to how the loan is structured and presented at…[Read more]

Nit you wont get it for nothing he will need to purchase it from the REIQ or get a friendly agent to provide him with one.

Hi doubleYes bang on totally unuseable for most people.You can do a lot better with the same result and full flexibility.

Hi IsobelTo be honest this day and age most of my forum clients are not in Brisbane and are right through Australia and the World.Mortgage Broking has come a long way over the last few years and with the majority of lending applications being lodged electroncially i find that client can be anywhere and we can still assist them.Of course a lot of…[Read more]

If you are after a cost of construction only and the Townhouses (assume they are 2 storey) are fairly basic then you could quiet easily work on say $1200  per square metre depending on what is being included.Dont forget over and above this you have landscaping, driveways etcOther issue maybe financing it if you havent done one before.4 Titles on…[Read more]

Blacklab3 units is fine and no a separate body corporate is not required under a small scheme arrangement.Happy to email you a Residex report on the property if that helps at all. Just need an address.

Hi GatsbySorry to hear about your loss. Unfortunately there are some unscrupulous operators out there.From the limited amount of soft data provided you would appear to have sufficient to afford a new IP however biggest i can see is the cross collateralising of the current loans.Provided these can untangled then possible to move forward.

Yes all i am saying is the offset account is not fully transactional and with $100K coming into the account you want to maximise your savings and flexibility of the loan.Some offset accounts are not 100% CBA just happens not to be transactional. Course they never tell you that at the Branch when you get the loan.

Simple dont use the CBA as their MISA 100% offset account is not a fully transactional account.Look to refinance the loan to interest only with 100% offset account and as SNM as mentioned park the money there for the time being. Not doing any harm there and savings you 5.1% or so interest on your home loan.Flexibility is key when it comes to loans…[Read more]

Hi KyanneWow certainly nowhere near 10% nearer 2.5% basically the same as a vendor would pay an agent for selling the property.Some Buyers Agents work on a flat fee other a sliding percentage.

Hi CarolOne big difference is that the Buyers Agent acts on your behalf and not on behalf of the seller.As to finding an honest one a referal is often the best source. Which State are you looking in ?

AndrewYes if the buyer choices the property themselves they feel more of an ownership and more likely to stay and look after it rather than choicing from a selection of properties the Vendor has available for sale through an instalment contract.Several of the instalment contracts have seen are certainly UCCC complaint and others contain…[Read more]

Yes it is a comparison against the other sales prices in the street.

Hi RitaWelcome to the forum and I hope you enjoy your time with us.I couldnt agree more you need to find a Mortgage Broker who works with investors and understand their requirements rather than the typical cookie cutter broker who has no idea.Secondly ask the Broker does he own investment properties himself. Personally as an active investor I…[Read more]

Hi KyanneFirstly welcome to the forum and I hope you enjoy your time with us.With equity in your PPOR you certainly have the recipe to go forward and start adding properties to your portfolio however one of the key mistakes i see with virgin investors is the way they structure their loans and whilst this may not cause an initial problem will lead…[Read more]

Terry for once i have to disagree with you.As you know i own First Home Owners Group Pty Ltd here in Qld and at present we have 81 properties on our books all wrapped through Instalment or License to Occupy Contracts. At out peak we had 184 properties but have wound the Company back and have helped purchasers refinance out to traditional style…[Read more]

Must admit i have a fair number of units in my portfolio and dont see an issue as long as you throughly check out the Body Corporate fees and Sinking fund provisions first.Just financed a deal for a client where the block of 12 units had a sinking fund balance of $102,000. Thats rare but very much peace of mind for the buyer that the fund has m…[Read more]