You might be interested to know that the flyer was circulated by an independently owned and operated franchisee and I don’t believe ANZ would have approved it.

I am trying to get more information regarding this and will let you know what I find out.

The flyer has not appeared in Sydney as far as I have seen so I don’t think it would be a…[Read more]

I have not heard of the company you are asking about but why would you take less than 10% return per annum when you can get 2% per month with similar established lenders in the market?

Keep looking around for better returns if mortgage backed securities is what interest you.

Robert Bou-Hamdan
Mortgage Adviser

Investor Links

I wonder if the friendly building society compared their loan products with any other lenders products available in the market. I would also be very helpful if I was sucking someone into an expensive loan and had no obligation to provide the most appropriate product like mortgage brokers are required to do.

Robert Bou-Hamdan
Mortgage…[Read more]

It is common for mortgage insurance to be charged again on the complete loan amount if you borrow above 80% LVR again. The premium is for the risk associated with lending you money at high LVRs.

What Stuart referred to was a rebate that may apply (discretionary) if the loan is not very old. This usually only applies if the loan has only been in…[Read more]

I still see no reason why anyone would use a LOC in any situation other than as a loan for a business they are operating.

The benefits of a home loan with an offset account far outweighs any benefits attributable to a LOC.

Robert Bou-Hamdan
Mortgage Adviser

Investor Links

Originally posted by Stuart Wemyss:

Quote:
ATO eyes loans for cheat tips
Jason Clout (AFR)
2005/04/26

Low-doc lenders look beyond those obstacles, instead concentrating their assessment on the person’s capacity to repay the debt.

I find this comment to be hilarious. How does a lender providing low docs concentrate on serviceability when the…[Read more]

It is sometimes important to use a local broker as an Interstate broker cannot offer you all lenders. An example that immediately comes to mind is ANZ. They require the broker to sign that they witnessed the signatures on the application form. Another example is for WA residents trying to use a non-resident broker. This is not permitted unless…[Read more]

I use an ANZ account for personal use. There are absolutely no ongoing fees. It does not pay any interest either. I use ING Direct for interest bearing accounts although BankWest has one that pays more. Either one of these accounts also requires a standard transaction account like my ANZ one to access the money.

Robert Bou-Hamdan
Mortgage…[Read more]

7.1% is one of the good ones.

Thanks for the welcome. It has been a while. I actually missed the place this time.

Robert Bou-Hamdan
Mortgage Adviser

Investor Links

Make sure you can afford the repayments or it is goodbye house!!!

No doc loans usually attract substantially higher interest rates and must be for investment purposes so you will not have the protection of the Uniform Consumer Credit Code.

Robert Bou-Hamdan
Mortgage Adviser

Investor Links

There are actually a few 95% low doc products on the market. They are usually very expensive but the one Kerri is referring to is one of the best I am aware of.

Robert Bou-Hamdan
Mortgage Adviser

Investor Links

No. It is all about credit policy. They do not consider where you grew up. They consider your ability to complete a transaction and to repay debt. They also place heavy emphasis on the saleability of property in the event of default. That is why they don’t like rural or small towns. The population is not high and investors come and…[Read more]

I would disclose it to the lender when I was ready to wrap it. I thought you were settling long before wrapping.

Just on having the loan ‘called in’. I am still yet to see this happen to anyone who makes all their mortgage payments on a loan secured by residential security and NOT a Line Of…[Read more]

The loan should have nothing to do with the wrap. Just get yourself the cheapest loan possible. Should be around 6.5% or less if you have serviceability.

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[withstupid]
The forumite formally known as Big Rob

I sat down with Paul tonight. I am signing with IFHL tomorrow. Things are looking very good. There have been a few admin issues though which we are trying to get through.

One big problem is Professional Indemnity insurance. Membership to organisations such as the MIAA is usually reqiured. With the MIAA being so vocal about IFHL, we believe we…[Read more]

Teachers have it easy. All those paid holidays!!!

Kwilko, can you let me know when they book you in?

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[withstupid]
The forumite formally known as Big Rob

I like all these letters you guys are using. Some of us do not know what they mean.

Regarding your problem, if an agreed price existed, I would be contacting fair trading. I believe in WA you have DOCEP – Department of Consumer and Employment Protection (whom I detest) but they are worth something in situations like this. A well worded complaint…[Read more]

Scremin, I will come when it is snowing.

Kwilko, did he indicate any date or time?

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[withstupid]
The forumite formally known as Big Rob

How is the application going? Have you heard anything?

Did you hear that the effect of today’s bad publicity was a massive inflow of new applicants?

I hope your CV is impressive!

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[withstupid]
The forumite formally known as Big Rob

Hehehehe…. More like a night rat.

I am half-insomniac. I rarely sleep more than 5 hours out of every 24.

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[withstupid]
The forumite formally known as Big Rob