Originally posted by Amused:
Wizard seems very good? does anyone agree?

My mummy said say nothing when you have nothing nice to say. So….

“NOTHING!”

I suggest you use a mortgage adviser / broker. You won’t get a Wizard Low Doc but you will get something a lot better!!!

The Mortgage Adviser
http://www.themortgageadviser.com.au

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Luci, this is a great advertisement for using mortgage brokers. Now imagine dealing with 30 or more lenders to source the best deals for clients and tell me how your blood pressure would feel.

The Mortgage Adviser
http://www.themortgageadviser.com.au

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Foundation, the ‘living off equity’ (without income other than rental) advocates also forget by spending on non-deductible personal items would soon see them paying tax on the rental income due to the reducing portion of deductible interest being exceeded by the rental income. They also neglect the impact of inflation which you…[Read more]

‘Never Sell’ is only advocated by The Investors Club so their ‘members’ (customers) do not realise the losses from the crappy and over-priced off-the-plan stuff they are flogging. Anyone can make a capital gain out of a property if they never sell. What is the point though?

The Mortgage Adviser
http://www.themortgageadviser.com.au

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A couple of things…

There is also PAYG low doc and no doc loan options so ABNs are not always required.

As for rental income, if it is positive cashflow, declaring the income should not be a problem as you can also include the expected rental income. If you commence a job in the same field before applying, the lender will only want to see that…[Read more]

They do not have much leverage as the representative bodies of brokers also represent the lenders. As the lenders love throwing their money around, it seems they are represented in a far superior manner. This leaves brokers to operate independently and there is no strength without numbers.

Legislation is being heavily implemented directed at…[Read more]

Jeff, please go and read the earlier posts about this topic in the various threads. This ‘living off equity’ discussion relates to someone who has no income from work and a negative portfolio (meaning they are geared substantially). Then, go and look at the ability to borrow based on no employment and a negative rental position and then get back…[Read more]

No. Not a peep. I guess it is just rumour and inuendo on the part of those telling me. I find it remarkable that not a single representative of The Investors Club has responded to my comments though.

The Mortgage Adviser
http://www.themortgageadviser.com.au

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2,500 a week is a lot. You should be fine. Of course, you could purchase under low doc or no doc if you have the income but not the documents to support it.

The Mortgage Adviser
http://www.themortgageadviser.com.au

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If you only earned 15k and 20k ‘GROSS’ in the last two years, and you tell them that, they will probably not think very much and they may also ask where you got the 100k.

Whether you can borrow or not will be focused on what you want to buy… ie: how much are the property values and their location.

The Mortgage…[Read more]

See, I did not dismiss your response about the lenders. I have already sent two emails and will call the lenders tomorrow to confirm that they do this. Your ‘distraction’ comment is just ridiculous and reaching. My response after your naming of the banks was addressing other issues and expressing my views again.

As for linking to Somersoft, I…[Read more]

See, just as you do not consider managed funds to be shares, I do not consider principal repayments to be income.

I would not submit a loan in this way.

It seems Rolf implied the lenders did not pick up on the principal repayments and were just looking at payments going into bank accounts or through another statement.

What happens when the…[Read more]

This is one member asking another member about their business. Kay is actually questioning something on John’s website. This happens all the time.

The Mortgage Adviser
http://www.themortgageadviser.com.au

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Can someone spit out a name for a lender who does this so it can be verified instead of just saying ‘they do it’???

The Mortgage Adviser
http://www.themortgageadviser.com.au

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Nigel, you will be amazed what you could borrow with other lenders. ING are not the best on serviceability but they do have some decent products.

Sit down with a mortgage broker and you may be pleasantly surprised. It beats running around to every lender. They have already done this for you.

The Mortgage…[Read more]

He seems to only read posts about economic doom and gloom. Lets talk about him behind his back!

Maybe he thinks a ‘wrap’ is a Lebo bread rolled sandwich. But then again, a ‘sandwich’ is something else. Lets talk about ‘KEBABS’!

The Mortgage Adviser
http://www.themortgageadviser.com.au

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[chill]

The Mortgage Adviser
http://www.themortgageadviser.com.au

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Originally posted by JasonBourne:
….well, at least not until you have left the seminar []

The disbelief that there are numerous negitve factors on ‘real’ equity seems to be leaking out into the real world in plague proportions.

The Mortgage Adviser
http://www.themortgageadviser.com.au

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Again Amused, it will come down to what you want to do. What I consider to be the ‘cheapest’ low dow loan at 80% LVR may not be the ‘best’ for you for other reasons. For example, you seem to want to access funds. The cheapest 80% low doc loan has a 100k cash out limit so you could not draw more than 100k above your exiating loans.

The one I…[Read more]

Hi Bob,

Basically, they are a real estate agent who demand higher commissions than most other real estate agents which results in higher prices being passed on to purchasers. They portray themselves as a ‘Club’ or as working for the purchaser. This is NOT the case. Their main income is derived from selling so they are certainly not working for…[Read more]