Forum Replies Created
I would strata them immediately. You could then deal with each unit seperately. It would open the way to many lenders.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
There is always something that can be done when you have some equity. You may be restricted by your serviceability (ability to repay) though. Some creative mortgage broking may help though. Sit down with someone who has access to lenders who accept social security payments in serviceability.
Good luck with it all.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
It is very simple if you can service the debt or, if you are self employed, it is even easier.
You could borrow 80% against the new property if it is suitable security and you could borrow the rest against one of your existing properties (ie: 20% plus closing costs). You would not need a cent as you have heaps of equity. You could eve borrow more for other things like renovations, etc if you can afford the repayments.
Speak with a good mortgage adviser and you will be fine.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Thanks Monopoly.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I would guess 4 kids with 2 in private school would cost a huge amount per annum. I admire you for being able to afford all that.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Brahms, take it easy mate. I am just stirring you like you were stirring me. If one ommission is what you are going to base your opinion of me on, I feel sorry for you mate. I have made many posts and it seems only one mistake or I am sure you would have corrected me earlier.
Anyway, I am here to help people and to learn. I ommitted something tonight and I sincerely apologise for my mistake. I have since corrected myself. Can we move on now please?
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
It is your choice whether you use family or not. There are a lot of great mortgage advisers on this site and you could probably easily find one. You will know whether they are professional or not by what they tell you and how they tell you your options. If there is any doubt, you could always post the information on here and get lots of different broker perspectives. If you prefer to keep the information private, choose a broker or two from the site and email them directly with more information (They are bound by the Privacy Act for your protection). Most are more than happy to help even if you go elsewhere to put the paperwork through.
Regarding superannuation, although I have just finished a financial planning diploma, I do not consider my knowledge suitable enough in that area to be of any help to you. An accountant my be more appropriate. I found Mark Unwin (Steve and Dave’s accountant) to be very good. Email him at [email protected].
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Sounds like you would have needed to ask around mate. Like I said above, never mind… I remembered.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Never mind brahms, I just remembered ANZ do it up to 95 with LMI cap. There was another one but it has slipped my mind.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Conveyancer and solicitor have the same responsibility to their client in conveyancing transactions. I would find someone independent.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
A good way would be to obtain a loan and purchase a property. These days you can borrow up to 106% of the purchase price if you are solid income earners. 106% finance is expensive and I would advise avoiding it if possible.
100% loans are readily available but you will need a few thousand dollars (depending on purchase price) to cover costs (and many thousands of dollars if you are not eligible for stamp duty discounts like in NSW).
97% or 95% loans are also available if you have some deposit but costs for mortgage insurance etc can be expensive.
The higher interest rate loans like the 106% and 100% are good to get you into the market and you can refinance out as soon as you have enough equity to get into the cheaper products.
Talk to a good mortgage adviser and they will help you through. No deposit lending is very common place these days.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Why don’t you just take a loan with no fees?
It would be cheaper than setting up a business with a financial services license and preparing a product disclosure statement for your offering.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Who lets you refinance to 95?
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I am with brahms regarding the solicitor. They should know if there is a deposit or not as an exchanged contract is done by the real estate agent but confirmed and processed by the solicitors.
I would be interested to see how the agent justifies an exchange without a deposit? The $500 is not what the contracts were exchanged on.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Thanks. I will quietly sit back pretending to know what Benzene is…
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I saw part of the story on TV tonight. It was a good story and I liked how the Mappers are helping their communities. I would like to hear how that is going.
It was a pity that the host made her disclaimer straight after the story ended.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Hey Pelican,
Good to see you are still out there flapping those wings.
Can you do me a favour… could you put one of those catalytic converters (the pollution control thing) on the go-kart? It might help the environment a bit and save a few more pelicans!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
You are taking a very narrow outlook regarding diversification. You can diversify by buying in different suburbs, different states, different countries. You can buy different security types, utilise different structures and purchase for different results. This is all property but could result in a very diversified portfolio that would see less volatility in changing markets.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
If you are self employed but have not yet done your financials, you can get a lo doc loan. The interest rates are the same as standard loans now but you will need at least 20% deposit. You will also need to pay mortgage insurance in some cases to get the really cheap rates. So many different situations can arise so you should discuss your own personal details with a good mortgage adviser.
To answer your question directly, lenders usually require 2 years self employed before approving a low doc loan but some will allow 1 day self employed. Basically, NO, you do not need to work for a boss to borrow money.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I would be going after the real estate agent who did not inform you that the deposit bond was not received. This looks like one hell of a civil dispute and my next call would be to my solicitor.
I would also report the real estate agent to the real estate institute and fair trading.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
