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  • Profile photo of saldsald
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    @sald
    Join Date: 2007
    Post Count: 5
    August 28, 2014 - 10:10 am

    Hi Jamie,
    I am unsure as to what you mean. Not sure what the deal is not serviced means. I am putting in more than the minimal monthly payment. I did tell them that the loan was for investing, business etc. however, I gather from this site…telling them an honest reason gets them nervous. I haven’t even started on my investing journey yet, so I haven’t even got a property in mind. Thanks.
    Sald

    Profile photo of saldsald
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    @sald
    Join Date: 2007
    Post Count: 5
    August 28, 2014 - 10:04 am

    Thanks for the feedback everyone..I am in contact with brokers at the moment to see what options are out there.

    Profile photo of saldsald
    Participant
    @sald
    Join Date: 2007
    Post Count: 5
    August 27, 2014 - 6:53 pm

    Thanks for reply Chris, so basically they’re nervous about giving me a ‘personal’ loan even though it stays in my LOC until needed? They’re eager though to lend if there’s more security and I actually have a property in mind. Thanks for the explanation. Looks like we have a looooong way to go in our investment journey.
    sald

    Profile photo of saldsald
    Participant
    @sald
    Join Date: 2007
    Post Count: 5
    August 27, 2014 - 6:47 pm

    Hi, thanks for feedback and help. The bank is ANZ and I haven’t yet bought an investment property yet. The loan I was asking was for $50,000 and it would remain in my LOC until needed. The approximate value of property is $400,000 and we have equity of about $110,000. We are shopping around for a better rate!
    Sald

Viewing 4 posts - 1 through 4 (of 4 total)