Negotiate the rate down this will save you 0.5% plus switch to an interest only loan with 100% offset account if not already.

Can it be financed in such a town.

From memory the Plaintiff won the case and RHG settled out of Court. Think the details were in Australian Broker a few months ago.

GibboYes there is a push and the quicker the better as far as i am concerned.Sure i take a commission on life related products (usually discount it by a reduction in the clients premium) but for managed funds, investment advice or hedge fund management i work on a fee for service.I think a real issue is the MIS schemes such as Great Southern…[Read more]

Hard to comment when i havent all the personal details.

Never heard of him but No money deals in Oz in the current climate are almost impossible unless you are referring to Call Options and even then you will need some money down.

Hi JazHate to say that is a common timeframe and Westpac are not alone.For the Q&A department to be involved the must suspect some information in the application needs clarification or is not correct so might be a little longer.Unless it is a lodoc application we wouldnt use Westpac for a refinance as you can do lot better in a lot less time…[Read more]

Hi dodoOne of the issues i tell every client is what starts off as your PPOR often ends up as a IP and therefore if the structures are correct from day 1 then it is a lot easier to control down the track.Unfortunately the Equity Manager account is not a recommended product at all for your main loan.I would need a little more information to give…[Read more]

dodoPlease please dont make the mistake of thinking that a LOC is similar to an offset account.If you stay with what you have then you are going to have real real issues as the interest on your redraw is not tax deductible.Everytime you have paid the loan down (for example by making a salary credit into the account) and then redrawn the funds over…[Read more]

Hi dodoYou certainly have a reasonable amount of equity in the property due to the natural capital growth and the fact that you have been paying down the loan. If you are looking at purchasing a new PPOR the last thing you want is to carry on paying principal & interest on the current loan and therefore i would look to switch this to an interest…[Read more]

Hi investorFirstly welcome to the forum and I hope you enjoy your time with us.There are many ways to work out serviceability and each lender adopts a slightly different criteria which can result in significantly varying results. What will be the maximum borrowing amount with 1 lender could be totally different with another.Not suggesting you…[Read more]

Peter it is not aimed at the investor market but merely at the FHB who individual who has limited serviceability for a number of reasons and is looking at creating equity through repayments.

In the current climate if you dont have a steady flow of professional contacts and referral base i think you will suffer.Clients want more and more advice from Brokers who have experience or who are investors themselves.Sure if you want to market yourself at the First Home Owners market then you might get by but remember this will be a limited…[Read more]

Hi PaulTo be honest an unsecured personal loan would have to be the hardest type of loan to obtain in the current climate and i think unless you have a good asset base, job security and squeeky clean credit you will struggle to get anything.These loans are solely credit scored with little human credit intervention so other than the big 4 try one…[Read more]

Look hate to point out you are wrong in this statementI have since learn't "shorting.(no it is not allowed on ASX shares at the moment). Shorting a stock on the ASX is certainly allowed with the exception of Finance and Insurance stocks where the ban still stands.There is no such ban on any US stock and i prefer the US market for the depth, range…[Read more]

Thanks for the endorcements guys and to confirm i DONT charge ANY commission upfront, during or post setlement and rely purely on what we receive from the panel of lenders with whom we deal.Just on the buyers agent commission front the amount they have quoted you is standard for a Real Estate agent in Qld so is on par with what you can expect to…[Read more]

Funny the Director of PF who telephoned me threatening the world if i carried on this thread owned no property at all.

DavidYou would be lucky to finance 65-70% of cost on a maiden project of this size so thing financing will also be an issue.

Hi Darran Firstly welcome to the forum and I hope you enjoy your time with us.Be vary careful as to how you structure your ongoing purchases as interest on a redraw is not tax deductible.Dont have an issue in you wanting to pay down the non deductible debt as quickly as possible on the basis the current will be your PPOR forever and a day however…[Read more]

Thanks GibboI think you just saved me 10 minutes typing a similar worded reply.Sure anyone can walk into a Bank and apply for finance but which Bank and how do you structure it.Dont tell me the Bank are going to tell you the lender down the road has a better serviceability formula than us and their offset product is 100% transactional and will…[Read more]