Standard variable rate currently is around 5.75% + so is cheaper not more expensive.

Yes exit and entry fees would not differ.That rate would represent a professional package rate so normally an Annual Fee of say $350-$375 but would cover application, valuation (and at $1.5M + that could be a couple of thousand dollar savings on its own) bank legals, rate discount and fee free 100% offset.

Hi AlphaFirstly welcome to the forum and I hope you enjoy your time with us.As Terry has mentioned the two are totally separate beasts and perform different functions.You would be better of not only to approach a mortgage broker to obtain a pre-approval but more importantly put the wheels in motion on how to structure your deal to enable you to…[Read more]

BrianI think you are shopping in the wrong place.Most of our customers are paying 5.05% with 100% offset on loans more than $250K.

BrianWont comment too much about point 1 as i think that is an individual decision. I dont believe in ever taking on too much bad debt however if you have good employment and sound income then at the moment there are some real long term bargains to be had. Remember what is a depresed house price today will not be tomorrow and over the long term…[Read more]

Hi BrianFirstly welcome to the forum and from what you also said welcome to Australia.Not sure from where you originate but i am also a fairly new Australian moving from the UK 15 years ago.Certainly with the information you have provided i think you will find most lenders will welcome you through the doors but you have to remember that you need a…[Read more]

No worries Bigpond.

A few answers for you:We want to clear (we will need landowner signatures on the application to do this) and build a dam and establish a house site and build on the block. We will need the owners signatures on applications to do all of this. How can we go about this if we are not the landowners?  The Contract could be constructed in such a way t…[Read more]

Oh yes totally agree Terry but as you say "done correctly" is the main criteria.Not a good one for clients just intending to live of equity.

Oh yes totally agree Terry but as you say "done correctly" is the main criteria.Not a good one for

Oh yes totally agree Terry but as you say "done correctly" is the main criteria.Not a good one

Oh yes totally agree Terry but as you say "done correctly" is the main criteria.Not a good

Oh yes totally agree Terry but as you say "done correctly" is the main criteria.Not a

Mick not so easy to shop around these days as there are only 2 dominant players and for an off the plan property over 12 months that soudns about right.Like anything insurers are worried about loosing money like everyone else.

Hi adrainFirstly welcome to the forum and I hope you enjoy your time with us.When you state that you intend to become more active is this because you intend to be buying and selling or merely try and increase your portfolio.The reason i ask is because the way you structure the funding and the entity which you would use to purchase these properties…[Read more]

Firstly good luck and this answer is not trying to sound flipant.Realisically i dont think you have any chance of having funds available for settlement by the 6th April unless you have other security and a short term funding arrangement can be utilised.If you need a high lvr or GR finance based on end debt valuation i think you have no chance in…[Read more]

DSIn essence rather than servicing the debt each month the interest is added to the original loan amount hence the debt gets bigger and bigger.Ideal when price appreciation is greater than the interest being capitalised but no so good in a stagnant or declining market.

AllanThey are as good as the Broker they then send you off to.Brokers can subscribe to the deal and offer to take a cut in commission and then bid on the loan deal. Like anything if a Broker is cutting his commission or payment he is starting to get desparate and do you really want to deal with a desparate Broker who has time to ring you back or…[Read more]

Hi RidigaNo i am assuming you have used a Discretionary Family Trust to purchase this property.Have to say with the speed that lodoc is disappearing I would be getting the application in fairly quickly as anything over 60% many lenders require copies of your BAS for the last 2 quarters.A good mortgage broker should be able to steer you in the…[Read more]

I am assuming that the lvr is less than 60% as Anz wont do lodoc above this LVR.80% is still available but you need to be quick as it wont last forever.I am doing one for a client at the mo and there where only 2 lenders we could find still doing lodoc on HDT structures.