… what Tools said!

By the way, my name is Robert, not Richard. ))

TMA
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Originally posted by Terryw:
It is not lying on the contract. Stacking the contract may be a way to get a higher valuation after settlement.

Can you define “stacking”?

I take it as putting a misleading amount on the contract. Misleading referring to NOT the true purchase price. How does this differ from lying? I believe this is also prohibited…[Read more]

Location and tenant will be very important. Is it a shop, office, factory unit?????

TMA
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I would say yes seeing a company pays their own tax whereas and employee is paid in after tax dollars.

TMA
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Before trying for more finance, look closely at your serviceability. You do not want unsuccessful hits appearing on your credit history.

TMA
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A pimple-faced research assistant who trolls the Internet and steals most of the information from Cannex, filters it, adjusts it and dolls it up.

Go to:

http://www.themortgageadviser.com.au/index_files/essential_links.htm

Click the Cannex link (second choice in the list under Property Research). Select ‘Rates’ on the cannex site.

The…[Read more]

I don’t know… maybe declare bankruptcy!!!

Seriously though, I am looking for a career position in something interesting but I am being fussy. It has to be within a large company so I have options. Considering travel industry at the moment because I can’t get into the banks as they say I am “too qualified” (rubbish) for entry-level stuff and I…[Read more]

More income always pays debt down quicker. I would be looking at my structure to ensure the fastest possible debt reduction program you can implement.

You seem very highly geared across a lot of your properties. Buying additional properties (good ones) will certainly decrease your overall risk through diversification but buying poorly may see a…[Read more]

Drop the rent more and/or get a new agent!

TMA
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Shares are far more risky than using equity in an existing property.

TMA
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Essential Links
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Originally posted by Terryw:
One possiblitiy is to lend your money to your trust and then to buy a property for cash. Buy only bargins and Stack the contract up higher with a rebate on settlement.

Then after settlement apply for a loan to release your funds. If you have purchased well, the valuation should come up higher and you may be able to…[Read more]

I almost forgot…

The interest would not be considered if you were using the funds to buy a property as it would cease on settlement of the property. That would leave you with ONLY the rental income. Rental income is not very certain. Income from established employment is far more certain.

TMA
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First Home…[Read more]

When you apply for a loan, you have to state your assets and liabilities as well as your income and expenditure. The interest on your money as presented by Magellan would only just cover your living expenses for a single person with no children and no other expenses at all. This is highly improbable for anyone.

The rental income will be used for…[Read more]

Lenders have maximum exposure limits in place to cap their risk with any single client. These kick in for many different reasons but usually apply when the dollar amount gets too high. Other reasons may include type or location of your property investments are too restrictive or, most commonly, your serviceability is no longer evident if you have…[Read more]

Do you know where that information usually comes from???

TMA
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LMI refunds are optional and up to the mortgage insurer. They usually only apply within one year and only if using the same mortgage insurer for the same property for the same loan amount.

TMA
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So where are you putting your extra funds until you are ready to purchase your next investment or personal item?

TMA
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Did you get a P&I loan or I/O???

Is it PPOR or IP?

TMA
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I totally disagree as well. There are very specific rules regarding taking possession and they are very strict regarding PPOR properties. They are more relaxed regarding investment properties but they are still pretty sensible.

Everything is outlined in your loan documents before signing anyway. You are responsible for what happens to you.

TMA…[Read more]

Was there an existing relationship, a shorter than 30 year loan term or was it just a pay off for some other reason?

LMI waivers are not common.

What was the point of the second valuation????

Regarding the 95% LVR with no LMI, was the client a new professional (ANZ do this)?

Regarding the Lite Home Loan, what is so good about it?????
* no…[Read more]