You can also go higher than 80% LVR on both properties but it will cost you a few thousand in mortgage insurance. Best to use a broker to sort it out for you so you don’t make a mistake and leave yourself short.

TMA
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Prices have dropped plenty already. I can’t see much impact of the loss of $5,000.

In any case, the FHOG is not geared at any LVR. First Home Buyers cane borrow at 100% LVR or more. It all comes down to serviceability.

TMA
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Also report the Agent to the State Real Estate Institute!!!

If they cannot afford to pay you the losses you incurred if it was their fault, they should not be licensed.

TMA
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Lots of lenders in NZ will do this. You can access them from Australia if you like but it would be easier to deal with a NZ lender as they are specialists in their own rules.

TMA
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In simple terms, you can refinance up to 95% (97% if you capitalise mortgage insurance) but ONLY on the ‘value’ of the property. The value and your ‘real terms’ figure should be very close.

TMA
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The ONLY way you could borrow the whole lot is with a whole lot of additional equity you already own and a whole lot of stable income!!!

Alternatively, get a partner with money!

TMA
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1-2% higher than standard rates….

I like the 80% ones myself at 6.76%!!!

TMA
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I agree about the sticky note. It is a question to ask management and mods though. I have asked in the past for similare stickies only to be refused.

TMA
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Also, I would seriously considering changing the loan to interest only and attaching an offset account so you maximise your deductions when you build on it and it becomes and investment property.

You can pay as much as you like using this structure as well.

TMA
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It is becoming more common. I would prefer lending to someone with a history at such high LVRs than someone without any history such as a first time purchaser.

TMA
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Just to help you along a bit Programmer seeing you are new…

Searching ‘LOC’, I found the following…

• 408 pages in all current and archived threads
• 20 pages just in the Finance section

Searching ‘Line Of Credit’, I found the following…

• 45 pages in all current and archived threads
• 8 pages just in the Finance section

With…[Read more]

Give it a rest ‘Programmer’!

The informatiion you didn’t want but ‘supported’ IS available. I certainly hope you do a better job of ‘Programming’ (assuming again) for your clients seeing you are not capable of doing a simple search in a forum!

TMA
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I don’t think there is any need to physically view a property these days. It is very easy and fairly cheap to get a building and pest inspection done with colour digital photos. All other due-dilligence can pretty much be done on the Internet or telephone.

In my opinion, if the numbers stack up, it is good enough for me (following a favourable…[Read more]

An Agent is not qualified to provide a valuation on your property. There is an old trick that Agents use called ‘crunching’ (or ‘conditioning the vendor’). This is most common during auction campaigns but is equally as effective through standard for sale campaigns.

What happens is the Agent will tell the vendor the price they want to hear (ie: a…[Read more]

And on top of asking, you may also need to plead, beg and threaten to take away your business!!!

TMA
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Programmer, it has been done to death over and over again. Just search for LOC or Line Of Credit and you will have numerous scenarios. You will also find many of your FAQs answered in the many posts. If you cannot find a clear and well-constructed post in this forum, it is only because you have not looked.

In any case, who will pay for a full…[Read more]

Advanced mathematics has nothing to do with business. I did 3 and 4 unit maths in high school and have been in business for years. I have never used any of the advanced formulas. Everything I have used was learned at the 2 unit level or lower.

Specialist formulas are certainly used for such things as calculating repayments, various ratios, etc,…[Read more]

Sorry Kez, you can get 95%.

TMA
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An agent only misses out if the solicitor or person doing the conveyance is dodgy and does not pay the agent as part of the settlement advice.

This doesn’t bother me that much though as some agents often do the the dodgy on their clients. Pay back is sweet!!!

TMA
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Originally posted by plproperty:
– introduce you to a network of professionals including: legal services, finance professionals if needed for your next purchase, tradespeople etc

I should also add that 99% (guess-timate) of agents get paid great commissions for offering this ‘SERVICE’ to their clients!!!

I would also guess-timate that the same…[Read more]