Would need actual purchase and construction figures to make a comment of to whom you could approach to consider it.

Yes Peter there is nothing new there.The security upon which the loan is based on is neither here nor there as it the Loan contract itself which is important.If the lender was prepared to lend against cash then you could probably sell the house and give them the balance of the sale proceeds as security for the outstanding debts. All they would…[Read more]

Yes Peter there is nothing new there.The security upon which the loan is based on is neither here nor there as it the Loan contract itself which is important.If the lender was prepared to lend against cash then you could probably sell the house and give them the balance of the sale proceeds as security for the outstanding debts. All they would…[Read more]

VicYou only included part of the quote.The rest read 'place RHG top of mind for borrowers and increase my annual salary and bonuses with the interest fat we have earned by holding back on past rate reductions for borrowers, Mr Sulicich said' lol.

Interesting amendment to lodoc lending from QBE PMI that they have now refused to provide cover on any future lodoc refinance an action which is certainly likely to have an effect on future deals.Purchases are still ok but refnances are out.

Regretfully the strategy does not apply here in Australia.There are no exemptions to CGT in relation to buying and selling property.Whilst depending on the length of time the asset has been held may mean CGT  will be charged at a concessional rate it will still be charged.Book should be taken with a grain of salt.

sorry repeated post.

PH, No it is not normal with other Companies but not every other lender got themselves in the same boat as RHG.

Im thinking of buying my PPOR and renting it out for about 5 years. In the meantime, my partner and I will be making massive repayments to the loan so that it will be paid out hopefully in 5-8 years. (We will be most likely be chucking in anywhere between 2.5 – 3.5k in extra repayments a month.Stating the journey is probably the hardest part so…[Read more]

I agree with Terry although must admit i am not a fan of Bank West.The simple reason why they re-opened the product to the Mortgage Broker market was than they were loosing market share.The rate is only one consideration when assessing the suitability of the loan.

Regretfuly the pre-approval was probably not worth the paper it was written so the fact that it ran out was neither here nor there.Construction funding is getting harder to obtain especially on lodoc and all lenders and mortgage insurers have tightened up.To be honest CBA have probably tightened more than most over the last 3 months so the…[Read more]

Hi JasObviously all of the personal information regarding names, address, dates of birth etc and then a break up of your assets and liabilities.Either merely a Stated Income or Affordability Statement in relation to the income evidence part.If it is a refinance evidence of satisfactory loan history with your current lender or evidence of deposit…[Read more]

It will only affect you if you wish to use the property to release some equity out of.I think if you wait until nearer the loan expiry date and compare rates then as many lenders are sharpening their pencils.

As Terry has mentioned 80% is max LVR these days and for the better interest rate you will need 2 years ABN registration +In saying that if you dont mind paying for it then 12 months registration will still get you over the line with a couple of non bank lenders.

Terry i agree i was thinking short term whilst he expands his portfolio.To sell the complete property into Trust In Qld is not going to be a cheap exercise and would depend on the occupation or profession of Drabs.

Agree with Terry however likely to incur Stamp Duty on the Transfer which in Qld is not cheap.Alternative would be to mortgage the property and then deposit the raised funds in an offset account to reduce interest outlay. This combination is often a good form of Asset Protection.  Drop us a line if you want any further ideas.

StartDont accept the valuation report provided by the Vendoor because without being funny he s unlkely to give you one where the property has been downvalued. It wil also liey to be done by some company not acceptable to any conventional lender.Get your mortgage broker to commission an independant one for you once you have the Contract to hand and…[Read more]

VicYou are definately correct with your description of the former RHG.

PeterIt will vary from State to State depending on the Transfer value.

C2I guess i have dealt with them on many many ocassions and now what the Bank is really like.I now a couple of the lending managers in their Specialist Mortgage Area in Kogarah and certainly would never place my settlement on their word.Good luck to you must have been a day when they were away.