That is all that matters… as long as YOUR property is ok!

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

Sounds very much like what I am doing except I am using a single Trust.

I would have put up a table but Admin took away the ability to link through to tables etc when certain members complained about my previous signature being too colourful.

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The poster formally known as The Mortgage Adviser

When…[Read more]

I am totally against cross-collateralising.

It does have instances where it is needed though. An example is where you have one good and one bad security. To get the finance approved for the bad one, they will want you to cross-collaterlise.

The reason for this is that when properties are ‘crossed’, the lender, in the event of default and they…[Read more]

Originally posted by terryw:
Whatever.

Why were my comments about this deleted?

It shows good experience by Terry. I think Terry’s earlier comments are much worse than this!

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

More information would certainly help. Will you get this?

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

What Mick said!!!

It would be easy to increase your loan if you service. There are options if you don’t. Expected rental income from the new purchase can also be used to help with servicing.

Good luck.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

My comments were in reference to lenders.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

Just because it is common does not make it a correct term. It is only a common term because the industry shows you a professional courtesy by not correcting your error and embarrassing you. Of course people in the industry know what you mean when you say it. It just shows your poor attention to detail and I thought I would try and help you out so…[Read more]

What circumstances would they be?

I was under the impression that the unit value will incur stamp duty.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

Yes you will if she earns an income from it.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

What do you call the “cheaper end”. What dollar value?

I have property in Wyee Point and I find the next point (Mannering Park) to be cheap but there is not much money around from tenants. There is a lot of unemployment on the Central Coast.

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The poster formally known as The Mortgage Adviser

When I…[Read more]

Thank you JPG, much appreciated.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

Are you sure about how much ‘useable’ equity you have?

It would be better to tell us how much your property is worth and how much is outstanding on your loan.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

I don’t think they would do anything like this unless someone was living beyond their means… ie: had 6 houses, 3 cars, a yacht, etc and were declaring $20,000 gross income per annum.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

Most sensible thing I have heard you say Terry. I would also reduce my offer!

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

Terry, how can he take action against an agent that was not a party to the transaction?

I am also wondering how an agent who was not yours could force you to sell cheaply?

It is all your choice. You did not have to sell unless you set a low reserve and the auction reached that price.

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The poster…[Read more]

Thanks Terry,

I did not say Securitise = Collateralise though!

Your lack of knowledge in this industry amazes me. We are discussing “Securitising”, not ‘Security’. They are totally different things! I provided definitions so you might work it out but that is obviously not going to happen.

There is no such thing as…[Read more]

It could also indicate that rents are affordable. An increase may see this drop off quickly. Current demand may also indicate lack of affordability to purchase a property or inability to obtain finance.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

2nd mortgages are usually restricted to 80% LVR anyway. Why not just get an increase from an existing lender. Alternatively, some lenders will just use a caveat which does not require approval.

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!

Try The Investment Detective from this website. It is a great tool and it is not costly!

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The poster formally known as The Mortgage Adviser

When I grow up, I want to be a Storm Trooper!